Along with my trading plan about SPX500,I think HSI is facing strong pressure soon
1.The negotiation between CN and US will not go very well.They will get someting quantitative but CN will not give great compromise on the issue about Politic and Strcture.News will be released step by step.
2.The technical analysis
long time down trend line
SM and Soybean are highly correlation
SB and KC are highly correlation
These futures are now at a very low level,and we can see the beginning of a new uptrend now ,will they go up together while the DXY goes down?
1.the price is supported well at this level
2.XYAB pattern suggused a movement upward
3.the Oil,stock market also suggused a correction after a sharp dropping.
I dont know if this rally would turn out to be a new trend up,but it is worth to try
I want to short USOIL on 1h for several reasons
1.the power of the impulse wave from 42 to 54 is going weaker.
We can see from the 1H chart,the MACD shows the turnning of the power,b>a,c<b
2.there are two Pivots on the chart,the trend can end anytime
I have draw out the enter point,TP and SL level on the chart
I'm looking for a good entry D arround 9.2,when the price falls down towards this area,I will focus on the behavior of the price, necessary condition as follow:
1.CD is clearly in trend divergent compare to AB
2.in the CD,the coming movement is clearly in consolidation divergence
3.the Price line 9.2 stop the down trend nicely
Although GBPUSD falls down quickly,but we can see that the PRZ of Gatterly Pattern converge very well
all suggest tha 1.29368-1.29442 will be a nice place to long GBPUSD
Let's wait for the price behavio