Based on the daily, this is what I called a dragon twin candle. 16500 is a pretty strong resistance level. Although Hk50 been bullish the past couple days last week, it never able to push above 16500 due to lower volume, with yesterday china market reopen, it actually close back a bearish with the same little top wick. Hence, this is what I called a dragon twin...
Liquidity Sweep followed by strong impulsive move to the upside to start the month of February. Entry will be off the 79% (0.786) Fibonacci retracement level using a limit order. Order block in blue is also in alignment with entry level. Levels 1 and 0 represent the Stop loss and take profit levels respectively.
😊Quick Money: The Secrets of Successful Online Trading
👋Hey traders, are you looking for a hot tip on HK50 for the first trading day of the year of the Dragon to boost your profits?
The HK50 index is showing a strong uptrend in the 4-hour and 8-hour timeframes (D1 is in downtrend), indicating the first day in year of dragon 2024 still keeping a bullish momentum...
Read the latest article here
With this mask off policy, we can expect more people to come out of their home and resume their pre-Covid days - shopping, meeting friends at cafe, more dining out, weekend travel,etc. This is good news for local consumption along with the incentives that the Government is currently offering.
I posted here to go LONG on HSI...
In this video I do trend and cycle analysis on the Hang Seng index and explain my thoughts on why I think big opportunities are just around the corner.
Note: my opinions, though supported by multiple levels of technical analysis, are still just my opinions and should not be taken as facts as there is no guarantee that what I think will happen will play out.
The Chinese economy is currently facing challenges, and the momentum of Chinese stocks is not great. It may seem questionable why anyone would choose to invest in Chinese stocks when there are other high-performing options available.
Yesterday, the leader of Hong Kong expressed his intention to enact stricter national security laws in the near future. These laws...
The Hang Seng Index is Near Important Support
The economy of China is hit by the decision to liquidate the developer Evergrande due to a debt of USD 300 billion. Bloomberg writes that this will have huge consequences for all of China.
While the S&P 500 index rose by more than 3% since the beginning of January, the Hang Seng index fell by more than 8%. JPMorgan...
The Chinese economy has had 4 consecutive years of closing in decline. Evidently, the Chinese economy supercycle (as depicted in the chart) indicates that a reversal is well overdue (or superdue in this particular context). By the end of this year, it can be expected to see a relatively massive reversal in the Chinese economy, one that may catch many by surprise....
President Xi Jinping’s New Year address put paid to hopes of much larger stimulus.
In his address, President Xi pointed to the consolidation and enhancement of the
economic recovery and no signs of a boost from policy coming. Furthermore,
China’s economic growth for 2023 came out at 5.2%, above the central
government’s 5% forecast, which it boasted it was able to...
Over the last 3 days, we witnessed a near 9% rally for the HSI. There were several contributing factors - the Chinese government has injected more stimulus into the market. Read here and of course the 360 degrees turn by famous Jack Ma who bought 271 million shares of its own company, Alibaba, giving the much depressed stock a huge rally, causing a rising tide...
Read some latest articles here , here and here .
We now see a good support at 21563 level and HSI might revisit this level or slightly below (to kill the retail traders who place tight stop loss) before a rebound can be in sight !
Hang on there , guys !
It was nearly three years ago when the China stock market notched a short-term peak. Recall how the world's second-largest economy was initially seen as a growth engine coming out of the worst of the pandemic. An authoritative regime in China, led by President Xi Jinping, crippled the economy's expansion trajectory through harsh ongoing lockdowns and by clamping...
Preference for wave 3 to extend. Using various fibonacci extension levels, I would imagine that HSI will ultimately move down to 14480 around 2nd Feb 2024.
The current status is uncertain, and there are two possibilities:
1. If it is the 2nd wave of an upward trend, the HSI (Hang Seng Index) will rebound in the short term and surpass 16500. The level of 16500 will be tested multiple times, which would be the most favorable situation for the HSI.
2. If it is the 5th wave of a downturn, the HSI will break the 15400...
Most have pulled out of HSI or China Market with much unhappiness, disappointment and anger. The Chinese Government has failed to shore up the economy and stock market and big institutional firms have sold or pull out large funds away from China.
Another 300 points down today , red and more red like the blood flowing out of a body, slowly but surely. So many...
HK33HKD - 24h expiry
Previous support level of 16014 broken.
This is negative for sentiment and the downtrend has potential to return.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Further downside is expected although we prefer to sell into rallies close to the 16015 level.
We look to Sell at 16015 (stop at 16195)
Our...
