HSI is approaching its support at 27240.6 (100% Fibonacci extension , 61.8% Fibonacci retracement , horizontal pullback support) where it could potentially bounce to its resistance at 30197.0(61.8% Fibonacci retracement , horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support where a corresponding bounce could occur.
There might be a chance that Tom McClellan's Eurodollar Indicator is telling some people something ... QED1! Commercials Positioning with a certain shift fitted perfectly to Stock Marker and FEF Fund Rate lows... But of course it's different this time .
It looks like that the index has finished the correction around 61.8% Fibonacci retracement.
Now it could drop to the bottom of the range within a large complex correction
Ended last week with a daily that bearishly engulfed the prior 3 days and it's rally back towards its all time high stopped right around the .618. I'd have to call that a dead cat. Also a hanging man at the top where the rally ended along with an island. Currently losing this fib level as we speak. looks bad.
Buy above. Stop loss at. Take profit at.
Reason for the trading strategy (technically):
HSI is approaching its support at 27240.6 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 30197.0(61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3)...
Hello Traders,
following conclusion I have met as of my last analyze:
„...Hang Seng failed to exceed the upper boundary of the trendchannel and declined sharp after. It has left a „bearish-engulfing“ at chart, a sell signal on a daily basis. While closing below the 0.382 Fibonacci of the advance from Jan.-April, the odds do increase, that the targets for the next...
HSI bulls back strongly with 2 strong days to end the week above 30000 again after sellers didn't manage to sell it back down. Ideal uptrend intact as per trend indicators. With the US now at all-time highs, a good follow through with positive trade deal news can be strong catalysts to see HSI back to 31500 and beyond.
Hello Traders,
Hang Seng is moving higher since the low at 29504 on April 26! The structure of the advancing price shows overlapping waves, as it is often the case for „b“-waves of any degree.
I have labeld the decline from the wave „i“ high at 30280.10 – 29504.0 as a „flat“-correction, at one higher degree it is possible that a wave „((W)) has endet there, and...
analyzing from two perspective: time, angle and trend line, there should be still some time for the drop until it is time to safely buy hong kong stocks
Hello Traders,
the same as for NIFTY50 is true for Hang Seng index. It could be possible, that HS has made a major low at 27925.6 within a wave ((y)) of ((iv)) or ((ii)) of Minute degree.
The move from the low is countable as a „five-up“ indicating the early stages of a new impuls to the upside. From my view, the index shows the charactaristics of an early...
28000 may be the first leg for correction. Target top of the purple channel.
For long term, blue channel confirmed since 24500 bottom reached at last year.
idea, Simple A B C
since HSI dropped broken the 2019/3/8 starting point of 28201, I used 2019/5/3 @30081 as starting point and end on 2019/5/9 @28311 for a total of 1770pts
this 1770pts as A and the C set as the line of 28300. the market sometime jump up or down, but I just use this simple point as starting.
The idea is predicting a range of target, not exact...
The past week has absolutely been one of the worst selling we have seen since the start of the year as the market grappled with fear with the unexpected worsening of the US-China trade war.
However, it is at these times of panic and apprehension that traders and investors alike tend to lose their cool and become irrational. Thus, it is of utmost importance that...
A market capitalization-weighted index of 40 of the largest companies that trade on the Hong Kong Exchange. The Hang Seng Index is maintained by a subsidiary of Hang Seng Bank, and has been published since 1969. The index aims to capture the leadership of the Hong Kong exchange, and covers approximately 65% of its total market capitalization. The Hang Seng members are also classified into one of four sub-indexes based on the main lines of business including commerce and industry, finance, utilities and properties.
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HSI (Derived Data)
