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4th consecutive day of rejection.
Shooting Star and Doji fully formed.
Confirmed resistance area at 370.0.
Market overbought by looking at the Stochastic.
Singapore30 should give us a potential short opportunity.
China/Asia break support and head lower as the debt contagion continues to spread in SE Asia. Watch how this debt/credit issue expands across SE Asia, South America and across the One Road project countries. My assumption is that China is using every resource possible to prevent this type of contagion event from happening now with it having "fingers in every ...
My custom China/Asia index shows, very clearly, the support near 7200 is critical at this time. The continued weakness originating out of China and the efforts to contain the current rout as well as contain an economic crisis are clearly generating concern throughout the globe. China has it's fingers in many other global nations. A collapse in China would ...
Quick short to 369.00. Head and shoulders in formation on 4hr and daily timeframe. Cheers
More positivity could send this SG30 into a H&S. I would short from second shoulder not long now.
Watch out below, folks. It appears recent support may not hold in my custom BRICS index as Emerging Markets appear to be under extreme pressures.
Recent news out of China, Malaysia and Mexico could lead to a complete EM market collapse.
Chinese capital markets are under extreme pressure right now and over $1 trillion in equity shares have been pledged to ...
The breakdown in my China/Asia custom index appears to be accelerating downward. I called this move over 4 months ago as I saw economic issues playing out in China that could be dangerous. With Malaysia's new PM, Mahathir, pushing to expose corruption and graft from locals and Chinese investment firms, I expect continue news to POUND China over the next 12+ ...
Entry - 407.02
SL - 413.50
TP - 396.50
RR - 1.62R
Risk - 1.93%
RSI Divergence, MACD indicates momentum fading.
i will wait for price to cross both the trendline and the first resistance level; and short on confirmation candles (failed breakout)
Trend is bullish
The price breakout with momentum
Mid-term trend is down
Opened a short position
Enter a long trade on SG30 this morning when the price breakout.
The trade was in-ligned with the Lazy trend System.
US markets was bullish yesterday, thus i was expecting the Asia markets to follow as well.
Singapore 30 Long
Bought 3 units of Singapore index.
I read using candlesticks analysis, bullish engulfing pattern with stops under the pattern giving me a 2:1 ratio.
50 MA rest --> bullish evidnece ---> Long
As the Indices Team alluded to in the previous report, the Singapore free index has been in a channel since 2009. On monthly candles, it has broken further out of the Keltner Channel on the back of a bullish run since late 2016 showing promising signs for the indices long term growth. This run is fuelled by improved exports in Singapore.
Looking at daily candles, ...
Price nearing resistance highs which need to be broken to form the conditions for an up trend to form prior to a higher low.
All the elements point to an ideal Bearish Bat forming.
1) 50% retrace of the XA leg at B
2) 1.27AB=CD lines up close to 88.6% retrace level of the XA leg
3) BC leg projection of 2 also lines up close to the 88.6% retrace level of the XA leg
4) Additionally, previous high resistance zone also lines up close to the 88.6% retrace level of the XA leg.
Plan is to ...