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...
I feel its important for even the most advanced traders to take the time once in a while to re-assess the fundamentals. For newer traders trying to learn this is how I create models of supply and demand.
I look on the daily or H4 chart for areas of consolidation followed by an engulfing candle and draw a line, if price returns to that line and doesn't break...
Hang Seng has broken out of channel that was almost 7 months in the making. This is a bullish. Coupled this with the end of EW counts and China crack down on malicious short-selling or selling of stocks and pledge to support the equity markets.
Today is the last day of the week for HK 50. 17000 is a very strong resistance level. Looking at the daily and the weekly chart, looks like we are coming up to retest the 17000 range.
The reason why I think today is very crucial in terms of the overall trend for HK 50 because if today close above 17000, we can then say HK50 is breaking the current downtrend of...
🔥 Let's Dive into the Key Points! 🔥
Are you ready for an exciting day trading opportunity, Retracement on HK50? 🚀💹 Pay close attention to the following key points:
⬇️ Sell Limit Levels:
🎯 16732
🎯 16758
🎯 16785
📈 Take Profits:
TP1: 16680
TP2: 16648
🔑 Key Level - Resistance:
🛡️ 16710
❌ Stop Loss:
🛑 16785
💡 Trading Insights:
Today, we focus on HK50 and...
Like yesterday analysis, the market opens with a spike up then re-test 16,000 range. Overall, the volume is still really low.
Yesterday it closes a weak bullish doji candle still respecting 16350 resistance level. For today's analysis, I can see there is a possibility of retesting 16000 and if the 1 hour time frame close below 16,000 range on the first half of...
Based on the daily, this is what I called a dragon twin candle. 16500 is a pretty strong resistance level. Although Hk50 been bullish the past couple days last week, it never able to push above 16500 due to lower volume, with yesterday china market reopen, it actually close back a bearish with the same little top wick. Hence, this is what I called a dragon twin...
Liquidity Sweep followed by strong impulsive move to the upside to start the month of February. Entry will be off the 79% (0.786) Fibonacci retracement level using a limit order. Order block in blue is also in alignment with entry level. Levels 1 and 0 represent the Stop loss and take profit levels respectively.
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👋Hey traders, are you looking for a hot tip on HK50 for the first trading day of the year of the Dragon to boost your profits?
The HK50 index is showing a strong uptrend in the 4-hour and 8-hour timeframes (D1 is in downtrend), indicating the first day in year of dragon 2024 still keeping a bullish momentum...
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With this mask off policy, we can expect more people to come out of their home and resume their pre-Covid days - shopping, meeting friends at cafe, more dining out, weekend travel,etc. This is good news for local consumption along with the incentives that the Government is currently offering.
I posted here to go LONG on HSI...
In this video I do trend and cycle analysis on the Hang Seng index and explain my thoughts on why I think big opportunities are just around the corner.
Note: my opinions, though supported by multiple levels of technical analysis, are still just my opinions and should not be taken as facts as there is no guarantee that what I think will happen will play out.
