HSI bounced from support, potential for a further rise! HSI bounced off 26033.8 where it could potentially rise further to 27988.3. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks. Longby FlowState6
HSI bounced from support, potential for a further rise! HSI bounced off 26033.8 where it could potentially rise further to 27988.3. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks. Longby FlowState3
Hang Seng...Bullish idea valid!Hello Traders, Hang Seng popped from 26204, a multiple support zone to a 27093.8 level, which is shy above the 0.5 Fibonacci of the decline from 27897.9-26204. This low can be counted as a wave „2“ of lower degree and the advance since a wave „1“ that is close to being done. For this idea, the level of 26204 is to watch. A decline below this area suggests that the possible wave „2“ correction is longer in terms of price as the wave „1“ was and this is not allowed in EW terms. One argument for this idea is that the second and often the third !one`s and two`s“ waves often correct with a steeper slope like the one before. Note the Stoch below the chart where you can observe this behavior. Another one is, that the correction looks like „similar“ ones, which is more often than not the same behavior too. And last but not least, the second wave „i“ terminates at the upper boundary of the trend channel, which is often the case within double „1-2`s“! Another more important fact is the violence and the protest in the streets of Hong Kong, which often occurs at the start of a new impulse, suggesting a bullish price ahead. If Hang Seng will exceed the high at 27093.8 a common target range for the move is at or around the 27250.80 level, what is the 0.618 Fibonacci of the decline. Note that an open gap exists from the trading of November 08 (27651) – 27361 November 11! Only one thing makes me uncertain, that is the gap that occurs at today`s opening bell and it is not the behavior I like to see in an impulse move to the upside. So, it will be interesting in the coming hours and days; let`s see how the market will answer the question we have! Have a great week.... ruebennase Feel free to ask or comment. Trading this analyze is at your own risk! by ruebennase9
HSI bounced from support, potential for a further rise! HSI bounced off 26033.8 where it could potentially rise further to 27988.3. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks. Longby FlowState1
HSI bounced from support, potential for a further rise! HSI bounced off 26033.8 where it could potentially rise further to 27988.3. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks. Longby FlowState4
HSI bounced from support, potential for a further rise! HSI bounced off 26033.8 where it could potentially rise further to 27988.3. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks. Longby FlowState3
HSI bounced from support, potential for a further rise! HSI bounced off 26033.8 where it could potentially rise further to 27988.3. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks. Longby FlowState3
Hang Seng...From a raging bull...Hello Traders, HangSeng gaped down on Monday and again on Wednesday's session with massive losses. The index has broken my important level of 26491 and indicates that not an impulsive move is underway. But what could this move be? As to observe on the graph below, the high @ 33484 was a possible wave „3“ of Minor degree, and the following decline a correction within a larger uptrend counted as a wave „4“ of the same degree. This wave ended @ 24540. The advance following after was a wave ((i)) of Minute degree and the correction after a „three-down“ within a wave ((ii)) of the same degree. The structure since the low @ 24899.90 is not clear to my view. It is not a clear impulsive move, it looks more as a corrective, making the correction from the 33484 a complex correction, what is not clear now! The alternate interpretation indicates, that @ 27366 a wave ((1)) was done and the low @ 25522 is a wave „a“ of an „expanding-flat“, the high @ 27894.6 a wave „b“ and the decline now running a wave „c“ to new lows below 25522 or it will morph into a „running-flat“ that must end above the same level. Because of the gaps that have occurred on Monday and Wednesday, I think it is an impulsive decline within a wave „c“. Because of the negative mood in the streets in Hong Kong and the ongoing protests I favor the impulsive structure! Only a break of the 24540 will turn my view neutral! So, be patient in the coming hours and days. Expect the unexpected! Have a great week... ruebennase Feel free to ask or comment. Trading this analyze is at your own risk! by ruebennase7
HSI bounced from support, potential for a further rise! HSI bounced off 26571.5 where it could potentially rise further to 27988.3. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks. Longby FlowState4
HANG SENG Buy SignalPattern: Channel Up on 1D. Signal: Bullish as the pattern is approaching its Higher Low and the 4H RSI is on support levels. Target: 28400 (below the 1W Resistance).Longby TradingShot26
HSI approaching support, potential for a bounce! HSI is expected to drop to 1st support at 26456.4 where it could potentially react off and up to 1st resistance at 27988.3. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks. Longby FlowState7
HSI approaching support, potential for a bounce! HSI is expected to drop to 1st support at 26456.4 where it could potentially react off and up to 1st resistance at 27810.2. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks. Longby FlowState4
HSI bounced from support, potential for a further rise! HSI bounced off 27463.4 where it could potentially rise further to 28072.7. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks. Longby FlowState113
Hang Seng: Symmetrical patterns show an extended uptrend to at lThe index has broken above the multi month descending channel that started on April's peak with a clear cross over the Lower High trend line (dashed line) on very healthy bullish 1D price action (RSI = 66.138, MACD = 47.598, Highs/Lows = 433.2348). Since both 1W and 1M turned neutral (RSI = 54.126 and 51.251 respectively) we are looking at previous candle patterns for clues. So far we have spotted striking similarities with the October 2018 - January 2019 price action. Similar lows, High and rejection around 27,300 and then a continuous bullish sequence. Based on that symmetry we have set the following targets: 29,000, 29,500 and 30,200, which should be used in accordance to each trader's risk approach. A Golden Cross on 1D (as it happened in March) will further validate this outlook. In September we've made a similar analysis with targets based on Fibonacci retracements and is already near the first target: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.Longby InvestingScope15