HK50 is one of those nightmare indices that you can just hold and hope (long or short).
They are money eaters when you pay interest on the daily. ANd right now it needs a serious break up or down.
I am going to remain neutral in terms of position and the bias remains down as there are lower lows and lower highs.
The market is STILL BEARISH but,
1) HK50 is now fully oversold.
2) There is a harmonic pattern
3) There is H1 RSI divergence
Tight stop loss. We need to ensure to exit quickly as the market is still down.
HS50 - 24h expiry - We look to Buy at 17378 (stop at 17178)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Price action looks to be forming a bottom.
A Doji style candle has been posted from the base.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a...
Short set-up when Hang Seng trades further down.
When volatility starts to pick up on Hang Seng, the odds increase this will happen across other indexes too.
targetting similar corresponding support levels of 15,2K
HS50 - Intraday - We look to Buy at 17460 (stop at 17260)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
Previous support located at 17462.
Preferred trade is to buy on dips.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
Our...
HS50 - 24h expiry
There is no indication that the selloff is coming to an end.
Previous support level of 17809 broken.
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 17820 (stop at 17980)
Our profit targets will be...
Time Frame: 3D
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.
Like my works? Please hit...
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.
Like my works? Please hit...
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...
