Alot of patience is based in this setup
The major indicies sp500, us100, DOW, FTSE etc. has made serious gains the last 18 months
Even though the evergrande crisis became publicly know whe hk50 was at it bottom it did held op and made massive support at the area.
Today we saw our first higher time frame trend reversal - it could offer a bank stuffing trade...
During the Asian trading session on Tuesday, Hong Kong 50 Index breaks above the resistance triangle line, beginning from June 21st. Yesterday the price impulse broke above the resistance line at level of $25800 and in the next few hours on a four-hour chart, tested the resistance line above and confirmed it as a support line. Tomorrow investors will observe with...
Trading a perhaps* Bearish flag.
*Perhaps, because, despite such Bearish momentum, anything aye still possible.
After TP1 clicks, If the market shows more of Bullish possibilities. Then RR should be... you know what, "hold my drink"
Ok,
For trade, setting two entries. Same SL, different TP.
If TP1 hit, and TP2 doesn't. Then RR becomes about 9:1, instead of...
31/12/20
Price is expected to relief and we can expect exhaustion before another push up. Price is at/near monthly resistance so buys are short term of higher risk.
Shorts can only be taken if we have a daily break as directed and a nice valid continuation pattern.
Have a great New years everyone!
Sunny
1.If we disregard the wicks, and pull out FIB retracement tool, we can see that HK50 is testing the 0,382 level. We can see that this level acted as support in the middle term and right now it has turned into resistance.
2.A blue wedge has formed on the daily chart, I disregarded the breakout because the resistance have been tested so many times since March. If...
FOREXCOM:HKXHKD is still in Seller's territory and now is a good time to short.
Purely Price Action setup and here is my personal trade opinion:
Sell Limit at 23,891
Stop Loss at 24,400
Take Profit at 22,589
Risk Reward Ratio = 2.63R
Disclaimer :
The analysis above for educational purposes only, I do not responsible for your losses. Please adjust your own...
The FOREXCOM:HKXHKD prices had been consolidating for quite a while and not creating any higher highs (HHs). Yesterday was a good setup to short after the compression was done, but I failed to catch it.
This morning, I saw another good opportunity to short with a condition that the price will close at 24,190 area.
Here is my personal trade opinion :
Sell Stop...
Hello Traders,
Hong Kong is going through some troubling times right now. To summarize very briefly, Hong Kong has been its own entity for some time with its own legal systems, boarders and rights but due to legal agreements China wants to take back Hong Kong as part of China. This is a crude summary of events.
This is causing friction between Hong Kong and...
I took this reversal trade with 4 confirmations
1 : Price was moving sideways around this area of support
2 : RSI was below 30 indicating oversold
3: Price was rejected by lower bollinger bands
4:Hammer candlestick on weekly chart
![HKXHKD: $HKXHKD #HK50 [D1] A Golden Bounce Ahead...](https://s3.tradingview.com/n/NrsBdw2C_mid.png "$HKXHKD #HK50 [D1] A Golden Bounce Ahead...")
