After three days with the position placed, the price finally is moving downwards. Price action reached a level where I usually close half of the position running and move the S/L to BE.
To what is known as a "risk-free" trade.
Will keep a close look to find a better place to trail de S/L. I will keep the comments as a trading update.
CHINA A50 found rejection from a critical resistance level from the ascending channel. Price action making a tweezer top candle. MACD is showing diminished bullish momentum, together with a clear divergence for confluence on the bearish bias.
Price in consolidation.
The order:
Type: sell-stop.
S/L: 20 pips - R:R | 1:2 -
T/P: aiming to the next supply zone +...
Read article here
When compared to YINN , you may think that it does not move as high as CN50 from the look on the chart. Please note that this is leveraged ETF, which is a 3x multiplier on the bull side.
YINN is suitable for those who can tolerate a higher amount of risks and this can be used sparingly for short term trades. Currently, the US-CHINA tension...
Read positive news here and here
I am of the opinion dips are for further accumulation as I am bullish on China story for the long term.
But I won't recommend going all in or show hands with China A shares. There are still many unknown factors in the market , Q2 GDP data, unemployment in China, business activities , US-China trade war, Huawei saga,...
CHINA50 Potential Bearish Movement - setup forming
we are waiting for a momentum candle close below the last swing that touches the lower blue trendline to sell this one
Reason:
1- Regular Bearish Divergence on MACD (in red)
2- Objective Channel pattern (in blue)
3- Resistance / Supply zone from Daily
Three confluences are enough to consider Selling CHINA50,...
You've been told! Get ready. There is trouble in this heading south more likely, than not!
Reliable sources in non-mainstream media are picking up the second wave of a virus outbreak in China. This is not fake news!
The re-opening (or partial re-opening) was actually fake news. Facilities were actually being built to accommodate more sick and dying people.
...
over the last moth, it seems that genco opens according to the cn5's change of price between 4:00 pm when market close and 9:30 am when they open. If cn50 at 9:30 am is higher than at 4:00 pm the earlier day, genco opens up. If it is lower, genco down... usually, although sometimes it is not the case
China commerce ministry says production of auto, auto parts have fully resumed! This is china's way of saying that they have defeated the virus and we have moved on, so expect that to be reflected in the data.
In this 1H chart, you have 2 gaps , one on top and one below; both awaiting to be filled up. The question is WHEN ? I also dunno, haha.
Next, you see the price action is stuck in a sideway move with buy and sell opportunities , if you know how to spot it and trade it. Congrats if you are good at it as you can earn both ways !
So, the million dollar question is -...
Price was within the descending channel for this equity index and lately, china had done very well combating the virus outbreak and it has lower death rate comparing to Italy and thousand have already been recovered where new cases weren't escalating the way it used to like past. This all proves that china is one of a great nation around the world which may prolly...
If this level is cleared, then we have a higher chance of seeing it closing the gap (see triangle) which has yet to be filled up.
Think about it , China in a way has to thank Covid-19 as after it has manage to contain the virus issue, it is now becoming the go to expert in terms of medical supplies. That brings jobs and opportunities to the people of China who...
The Index tracks 50 of the largest and most liquid companies in China. These equities trade on the Hong Kong Stock Exchange (SEHK) and are weighted based on market cap.
Hong Kong's Hang Seng index slid 3.8 per cent and China's Shanghai composite fell three per cent. '£130bn' wiped off FTSE 100 as oil stocks ...
The FTSE China A50 Index is widely viewed as a...
