Hey everyone! So if you take a look at the daily chart of the Straits Times Index, it breaks not only the bullish trend line but also the 9-Day Moving Average. That validates the end of bull direction in my opinion, unless it goes the other way around, or sideways.
Inside bar formed previously, and right now bullish candlestick is formed. So I created both support and resistance lines based on the previous bar. My opinion is that if it goes above the resistance line, go LONG. If it goes below the support line, go SHORT.
Stop loss:
LONG = below support line.
SHORT = above resistance line.
Wedge pattern that I drawn recently confirmed the uptrend, and it’s bullish candlesticks for about 3 days now. It’s never too late to have a ride in this bullish trend :)
Inside bar emerged, plus bullish candlestick means there's a possibility of going long if it closes above the inside bar (resistance line). Otherwise, if it goes below the inside bar (support line), go short.
HSI is up today! With breakout above the bearish trend line, it means, in my opinion, buy entry. Also, you might notice the inside bar forming by the time of my writing. The decision is yours :)
Bullish candlestick formed at the time of my writing. Let’s see whether it goes past my resistance line, or goes bearish. If it goes up past the line, BUY ENTRY.
Hi everyone! Here's my review of ASX 200 Index for today.
A few days ago, in tandem with the global market selloff, it was extremely bearish for a few days. But starting two days ago, the buyers took control, as shown by the bullish candlestick. As annotated in the chart above, I include the support and resistance for buy/short entry.
Let's see what happens next...
Hi everyone. I have not been posting my ideas on financial markets for quite a long time I could say.
Anyway, based on the HSI daily chart, it's bearish for a few days now, especially on Tuesday where it dropped more than 1000 points. For now, my strategy would be shorting it.
On the next analysis, I'll tell you how I can go long or short the indices, as well as...
The last candlestick shows it is bearish, just crossing below the 20-day moving average. It almost touches the bullish trend line I drawn. Let's see whether it will broke the trend line or keep up with the bullish trend.
Tell me what you guys think:)
It goes below the bearish trend line and 20-day moving average. But it looks like within few days recently, it traded sideways. Let's see whether it keeps following the bearish trend or otherwise.
Tell me what you guys think.
Based on the chart, the candlestick shows it's bearish. Today, however, it broke the bullish trend line I was drawn. By the time of my writing, the candlestick is within the previous ones or inside day. Let's see where it goes next, and I expect it goes down if it is true.
Tell me what you guys expect or give your opinion. Have a great weekend :)
