Time Frame: 2D
Sentiment: Oversold rebound
Forecast: Bullish
The market is approaching a significant resistant area 19500.
TP1 - 18500
TP2 - 18800
TP3 - 19500
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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HS50 - 24h expiry - We look to Sell at 18345 (stop at 18545)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Price action looks to be forming a bottom.
A higher correction is expected.
With the Ichimoku cloud resistance above we expect gains to be limited.
We therefore, prefer to fade into the rally with a...
HS50 - 24h expiry
Buying pressure from 17822 resulted in prices rejecting the dip.
The current move higher is expected to continue.
With the Ichimoku cloud resistance above we expect gains to be limited. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although we prefer to sell...
HS50 - 24h expiry - We look to Buy at 18110 (stop at 17830)
Buying pressure from 18225 resulted in prices rejecting the dip.
Short term bias is mildly bullish.
The hourly chart technicals suggests further downside before the uptrend returns.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Further upside is...
HS50 - 24h expiry - We look to Buy at 18355 (stop at 18125)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A lower correction is expected.
Our short term bias remains positive.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Further upside is expected...
While today the world’s first economy is celebrating Labor Day (so due to the bank holiday in the US, financial markets will most likely have below average volatility), the second world’s economy is recovering. From the low of the year reached on August 22, the Hang Seng index has already risen by more than 6%, as we suggested in the post on August 17th.
The...
HS50 - 24h expiry - We look to Buy at 18333 (stop at 18153)
Short term bias has turned positive.
Previous resistance at 18360 now becomes support.
We look to buy dips.
20 4hour EMA is at 18275.
We are trading at oversold extremes.
Our profit targets will be 18783 and 18883
Resistance: 18706 / 18800 / 19000
Support: 18520 / 18350 / 18150
Please be advised...
Referring to the China mainland market's reaction to the new stock brokerage fee, according to the previous updated market reaction, the stock index goes up by 9% which affects the HSI to go up at the same time.
HS50 - 24h expiry - We look to Sell at 18100 (stop at 18300)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
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...
Ahh, so the Chinese government is really in hot soup now ! They announced moving forward, they will not be publishing the youth unemployment data anymore. Read here
Remember 2 years ago, when the people of China got so stressed and went to the streets to protest and call President Xi to step down ? Read here
Could we see history repeats itself if the youth...
HS50 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
The current move higher is expected to continue.
Previous resistance located at 18532.
Preferred trade is to sell...
Today, the price of the Hang Seng index fell below the level of 18,000 for the first time since November 2022. The media is publishing materials about the slowdown in the Chinese economy (which is confirmed by statistics) and the lack of expected government stimulus.
The FT writes that foreign investors have canceled purchases of Chinese shares worth USD 7.4...
HS50 - 24h expiry - We look to Sell at 18585 (stop at 18785)
We are trading at oversold extremes.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
Short term bias has turned negative.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move...
Will this blue uptrend line able to support the price?
Price currently stay at the center X of parallel channel and trend line.
If broken, next two supports will be the pinky area (182 n 180 respectively).
Let see how the market maker next step.
Disclaimer: Mentioned stocks are solely based on own opinions for education and/or discussion purpose only. There's...
HS50 - 24h expiry
Previous support level of 18860 broken.
Short term bias has turned negative.
We are trading at oversold extremes.
A higher correction is expected.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
We look to Sell at 19025 (stop at 19185)
Our profit targets will be 18570 and 18015...
HS50 - 24h expiry - We look to Sell at 19695 (stop at 19875)
Buying pressure from 18979 resulted in prices rejecting the dip.
We are trading at overbought extremes.
Our short term bias remains negative.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Weekly pivot is at 19695.
Our profit targets will be...
Rules EW:
Elliot Waves Rules:
Wave 2 cannot extend beyond the start of Wave 1.
Wave 3 cannot be the shortest Wave.
Wave 4 cannot retrace into the territory of Wave 1.
All motive and Impulsive waves must have 5 sub-waves.
Even though Wave 5 might not surpass wave 3, wave 3 must always surpass wave 1
