HanG Seng came under fire and could see new lows in coming days. The price action recently flushed through resistance at 22416 and is now unwinding longs positions on a move down. A break below 21068 could see a move into 20165.
In this update we review the recent price action in the Hang Seng futures contract and identify the next high probability trading opportunity and price objectives to target
The Hang Seng Index Futures declined this morning but the hourly chart shows some early bullish signal near the demand are. As such, we expect some rebound.
I said yesterday afternoon that I was bearish on China, look at MFI on this chart. It's basically at support now so I flipped my puts this morning.
At least I found one index where indicators still work, lol. US/Euro markets in a complete melt up.
The chinese Index isn't kidding around when it comes to fulfilling those New Year's resolutions and is using all its power to climb all the way North. We're expecting the Hang Seng to rise further into the turquoise target zone to complete the red wave (3). After completion, the course should fall back into a correction in order to finish the red wave (3). In case...
The points outlined in the chart suggest a bearish move and the target is approximated by extrapolating the bottom of the support channel. The stop is placed above the top of the support channel, which acts as the current resistance.
Bullish bias: Bids above 17770 would target 18213
Break and hold above 18437 targets a traverse towards 18824. Continuation above it would target 19330
Bearish bias: Offers below 17720 would target a test of 17544. Break and hold below it exposes 17277. Continuation below would target 16651
Following up on the last post, the index continues to rallied after successfully retesting the 20ema. It has buttered through the 50dma and now testing the swing low break of March.
The 'uninvestable" index has clocked up +25% in a space of just over 2 weeks
Hong Kong’s Hang Seng Index have backed to “square one”?.. As its price slightly below its 25 years level ( 2020 - 1997 ).. BUT chart tell me different stories as I trade what I see “first” then what I think “second”.. where my “thinking” possible have bias and prejudice. You probably see lot of “doom” comments from western media or “westerner educated”...
HKEX:HSI1!
As long as 16239 holds, we 🎯16610/17520/18800
If we fail to hold 16239/16096,
"look above and fail" will be in play, 🎯 15701/15421/14858
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HangSeng stages a major rally today +5.89 % returning to tag the down sloping 20 ema ...
Does it weaken here or do we go test the 50ema ? Will be watching closely over the next few sessions.
As long as we stay below 14975, 13711/12450 would be in play;
If we stay above 14975, target 15539/15706/15866/16239
Will FOMC be the catalyst?
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HKEX:HSI1!
*****
I use this platform as a way to organize my thoughts and plan for my personal trading for the sessions to come. Do not misconstrue...
The Hang Seng Index has been going through a constant change of ups and downs. Going into November, we are expecting the index to drop down to ideally 13 715 points and make its way up again. As long as it stays within the green area between 14 451 and 13 119 points, chances are high of the HSI going up to 18 772 by the end of this fall.
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#orderflow #chartanalysis #chartporn
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I use this platform as a way to organize my thoughts and plan for my personal trading for the sessions to come. Do not misconstrue this newsletter as actionable trading advice. I am simply sharing my thoughts as a market operator through this newsletter, which helps me get my head straight...
Oversold on monthly RSI but it's also in no man's land as far as support.
For some reason, I think this can go down even more, maybe until MFI gets oversold?
Probably hits bottom when they invade Taiwan. They're just waiting for Russia to escalate knowing the US can't fight 2 wars.
In case you're wondering why everything is red, China tanked last night
Oversold on every time frame, 3 hr, daily, and weekly but I ain;t touching this one.
