I doubt the price will hit the orange milestone just it precisely hit the yellow star milestone. Still, there are enough coincidences in this experiment for me. Related ideas: Check this out & Check this out Snapshot
Weekly:
1. Perfect align:
Ext Fib. 0.618 is the same of 0.618 downtrend on 23637.
2. The top is broken the previous high.
3. ?? 50% retracement is touch.
Daily:
Downtrend bias:
1. 50 % is actually not touched.
2. 184 is the last Bullish Breaker.
3. If the 184 is touched, double bottom is formed and 50% is hit.
3. Ext Fib. at 0 ext to 0.618 is the last 0.618...
HS50 - 24h expiry - We look to Buy at 20260 (stop at 20090)
Selling pressure from 20753 resulted in all the initial daily gains being overturned.
The current move lower is expected to continue.
Short term bias is mildly bullish.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Further upside is expected...
Hang Seng Index daily chart wave count: the correction of the fourth yellow wave has ended, and it is currently rising in the fifth yellow wave.
update view
View On Hong Kong Stock Index (13 Apr 2023)
HSI is in
* Uptrend in short term
* Uptrend in Mid term
* Downtrend in Long term
We are seeing a good swing back UP in HSI and it shall go UP higher.
20400~20600 will be the immediate resistant for now but the price shall break UP sooner or later.
DYODD, all the best and read the disclaimer too.
Feel Free to...
The price has tested the 20000 mark for the third time. Proving to be a short term support.
Long was initiated.
Stop loss; 19777.50
Take profit: 20995.39
Risk/Reward ratio:
This remains a risky idea.
HK is setting up for a very nice next 18-24 months. Expecting some chop over the next few weeks and an eventual push through the inverse head and shoulders neckline. This coincides with a weakening dollar which is setting up a head & shoulders pattern in an inverse correlation.
- HSI is in a falling trend channel in the medium long term.
- An inverse head and shoulders formation is under development.
- A decisive break of the resistance at 22780, ideally with an increase in volume, signals a further rise.
- The index has support at points 19500 and resistance at points 22600.
- The RSI curve shows a rising trend, which is an early signal...
HS50 - 24h expiry - We look to Sell a break of 20150 (stop at 20455)
Previous support located at 20250.
Previous resistance located at 20500.
Price action has stalled at good resistance levels and currently trades just below here (20600).
We expect a reversal in this move.
A move through 20150 will confirm the bearish momentum.
Our profit targets will be...
HS50 - 24h expiry - We look to Sell at 20209 (stop at 20430)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
This is negative for sentiment and the downtrend has potential to return.
Previous resistance located at 20209.
The medium term bias remains bearish.
Further downside is expected although we prefer...
HS50 - 24h expiry - We look to Sell at 19570 (stop at 19810)
Buying pressure from 18823 resulted in prices rejecting the dip.
The current move higher is expected to continue.
The bias is still for lower levels and we look for any gains to be limited.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further...
Hongkong 50 Bearish
Sequence of lower highs and lower lows
Short on strength
Ep: sell stop at 18830(break of lower high) or sell limit at 19130 (.382 fib level) or in instant sell between these 2 levels
Red candles as sellers are present
SL: 19600 last lower high
TP1:18639
TP2: 18344
2023, week 11
HSI: at 19,161
According to the latest market update, the Hang Seng Index ( HSI ) is still not in a upward trend, with a current long close at 19,161 points.
Use backtesting to evaluate and make objective trading decisions. - PresentTrading
#HSI
![HSI: HSI - Falling Trend Channel [MID TERM]](https://s3.tradingview.com/c/CwwJOHgJ_mid.png "HSI - Falling Trend Channel [MID TERM]")
