My last analysis for HSI was a bullish call. Since then, the move for Hang Seng up move hasn't been that clean and I thought that it is time for me to publish the bearish alternate count. As should be clear, I have termed the up move as a triangle, and thus expecting a move down at least to the low made on 22nd Jan. Note: I have linked my bullish breakout analysis here.
Last week, HK50 finally tapped 17100 level but it retracts back to 16700 level to close the week. This week, based on the 1 hour and 4 hour time frame structure, it looks like we are starting to form a bearish structure with a lower high and lower low. I will need more confirmation that we are heading back down, thus my sell level remains at 16369. Once that level...
As discussed yesterday, the previous daily close right at resistance level of 17101, after a top wick, it ended up close back into the range below 16800. For today analysis, I am skeptical about the continuation of bearish candle. The reason being is because, if looking back at the last time, January 2, when it closed at 17101 and rip back down, the previous...
Yesterday, Unfortunately, it did not drive up as much as I expected to be. The daily actually close right at resistance level of 17106. Overall, I am still bullish for the week, eyeing at least 17400 level. Trade idea for today, the reason I mentioned to trade with cautious is because it closes right at resistance level. There is a possibility of a gap open to...
Hang Seng Index has been in a downtrend for last 4-5 years. The index bottomed in Oct 2022 when China uplifted the COVID restrictions. It has been correcting the first swing since last one year. The index is approaching a critical Fibonacci level where the wave 2 should end. The level has high correlation with the multi-year trendline as well.
For those that watched my analysis the past couple days, Congratulation! It was a pretty easy set up for a buy once the candle close above 16843. For today, we are finally back to the initial level I mentioned awhile ago. Whether if HK50 can break and hold above 17100? If it does, then we can sort of say we have now break the bearish trend and can look for more...
An inverse head and shoulder has formed and a break above the previous pivot will be the first confirmation that the Hong kong index has bottomed
Yesterday HK50 started off with some ranging candles but finally able to break above toward the end of the session. Today, depends how the first 15 mins candle open, I can see a continuation toward the upside as long as it can close above 16843. For sell, since it is starting to form a bullish trend from a 4 hour time frame, I will only consider sell once it...
HK50 is still ranging between 16843 and 16127 with no clear direction. The past couple days, it closed bearish but respecting 16127. For this week trade idea, I still stick with my last week analysis. For buy, I will consider when the daily starts to close above 16843. Tp can be up to 17565. For sell, once the daily starts to close below 16127-16000, I will...
Get ready for some thrilling opportunities as we dive into the market dynamics of HK50! Let's explore the charts, analyze the trends, and uncover potential pathways for profitable trades. 🚀💰 📈 Higher Timeframe Trend: Zooming out to the higher timeframes (H4 or above), we observe a clear trend in HK50. This sets the stage for exciting possibilities and potential...
So far, HK50 has formed a range in between 16843 and 16127. Overall there is still no clear direction as to whether if we will break out those range as yesterday we close right in the middle of the range. For trading idea, I still stand with my initial analysis. Sell only if the 1 hour candle close below the strong support level of 16127. For buy, proceed when...
HSI bottomed in January after hitting Fibonacci 1:1 in the last corrective leg. Since then, it has made a higher low forming inverse head and shoulder. Today it formed an impulsive run and closed above yesterday's high. Another confirmation that a bottom may have formed.
Yesterday HK 50 close off with a pretty nice bearish candle. Going back to my initial analysis, despite the past few weeks in a roll of bullish candle, as long as HK50 doesn't break any of the key resistance level, this could just a double top back to the downside. For Sell, as long as the hourly candle starting to close below 16000, we can look for a sell back...
Starting from the weekly candle, last Friday first spike down, touched 16127 then reverse back up 300 points. Overall, it's been 2 weeks in a roll it closes firmly above 16000 level. For this week target, as long as HK50 can start to firmly clove above 16800, we can start to eye for that ultimate resistance of 17100. I still believe that 17100 is a make or break...
Yesterday the market close with a bearish candle. If you focus on the top wick, it tapped exactly 16700 which is a crucial resistance level that HK50 just couldn't break above the past couple days. Thus, I am following thru my theory of a bearish trend until the market begins to find a solid support. For trading ideas, depends on how the first 15 mins candle...
After almost 3 days of ranging, it looks like HK50 is finally forming a direction. Historically, based on the last 8 years market day after the budget release, the market tends to close in a bearish candle. Based on the report, it doesn't seem like there is much positive news that can boost up the Hong Kong economy. Thus, fundamentally speaking, I am still Bearish...
Yesterday is a pretty quiet Monday, with lower trade volume and no clear direction. I anticipate somewhat the same market condition today as well as I mentioned in my analysis yesterday. Wednesday will be an important day for the market as the Hong Kong government is releasing the budget for 2024-2025. This will dictate how the market direction will move....
Last Friday, HK 50 close above 16700. However, it still hasn't close above the very key resistance 17000 level. The one I called make or break from last Friday analysis. The reason being is because, not only this will be the 2024 high, it will finally show the momentum of breaking the downtrend of lower high and lower low. One very important thing to keep in...