HSI is in a downtrend, and it follows the major downtrend line. I predict the HSI will drop to 16xxx as it has the a major strong support line.
The road path is predicted as shown. HKEX:HSI1!
I don’t usually post a supercycle because it is not that useful for a trader. But maybe it is good to use this as a reference when you decide on whether to have a long or short bias if you are trading the HSI.
Other than the EW counts, take note of the red support line that I’ve drawn. That is a crucial support. I also particularly like the fact that A=C.
HSI touching overbought on RSI, probably pulls back tonight.
If you're still holding along position in PDD, I suggest dumping or at least locking in some profit. I'm already out.
Oversold and hit my target last night so bought some PDD calls this morning.
Good earnings and positive news so you know that garbage is gonna go up fast, it always does. Already getting pumptarded, but I've seen PDD move $20 in a week, for example runup before last earnings.
This is why I plot stuff though, hit the target almost on the dot.
PBoC cut its 1 year and 5 year LPR again in an attempt to spur its credit markets.
As expected we saw a huge jump in HSI this morning. However, I think this rally might not be long lasting because of investors' sentiments. Based on the technicals, it seems to be in a downward channel as well. My take is that unless it breaks out 19860, it will probably reverse back down.
Expecting at least a one day bounce off this minor support
ADR traders must be looking at the same thing because PDD went green despite HSI going down last night.
MFI hit overbought last night and several companies announced they are going to delist from the US after their market closed.
There is a gap in futures, but China doesn't always fill those. Snagged some PDD puts on the gap fill, and added a few on this pump. Will wait until EOD to decide if to bail or add. Despite the delisting news, Chinese ADRs are melting...
Overall, $HSI remains cautious until heavy-weighted names earnings release. Therefore, I expect $HSI will continue tight range bound between Monday and Wednesday. Of note, I want to see how the price reacts around the 2H belt as it entered the belt.
Price scenario:
Open/bid above 20078-096, build up time/volume, would test these 20230s area and see if the...
China's tanking again, lol.
I guess I should have paid attention to the easy play. Was so hung up on CPI that I forgot all about China even though PDD is near the top of my watch list.
Oh well. Can't chase it now.
I know there's a lot of bears following me, a lot of time if I feel bearish and the US market is melting up I short a foreign ETF or in this case...
Last week HKEX:HSI1! rallied to 20300 previous week low volume area then got sold off towards 19450-ish, previous daily excess, where seller couldn't find traction. Buyers stepped in and ended OTFD and created three sessions of OTFU into 20300-ish and again got rejected, which left weekly OTFD continued.
Looking ahead, with the Belt, aka @spacemanbtc creation,...
The belt created by @spacemanbtc rejected $HSI breakout and created weekly OTFD. From the perspective of market profiles, weekly imbalance indicates bearish sentiments among traders and further downtrend expected.
Theme: STFR
Bulls target: reclaim 20633 and tackles above 20985, but note that top belt is leaning lower
Bears target: stay below the single prints...
China is probably the hardest market to predict because their govt exerts their will on the market, whether it be up or down.
I shorted PDD again today because I think it goes down and retests the bottom next week. We'll see.
Indicators are oversold, but chart pattern says one more down day.
Taking the safe approach and just leaving profits in PDD puts, cashing out the original investment to lock in profits.
HKEX:HSI1!
Failure to take out previous VAH led to sell-off down to level near the single prints created on Monday.
Week ahead, pivot would be 20868
Since the huge excess 21192-21600 has not been untested, the sentiment for upcoming week favours bears and remains sell-the-rally mode until aggressive buyers take out that excess, which I doubt. FOMC may be the...
Green and blue lines are the daily trend and VWAP is in red. You may observe that HSI night market did not follow much on the drop of US and Euro market, as during the HSI night market, the participants are relatively less than the cash hours (GMT+8, 0930 to 1600 hr). When HSI cash hours start, world wide major participants will trade in the HSI cash hours. ...
Based on the technicals, we can expect a retracement. Based on the macro environment, should the U.S remove the tariffs on China imports, it will be likely that there will be a breakout.
✅HANG_SENG_INDEX is trading in a downtrend
And the pair is now retesting a resistance cluster
Of the falling and horizontal levels
So I think that we will see the price go down
In bearish continuation move
SHORT🔥
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