There is a huge pattern on the Daily Chart to sell the HK50 index pointing to a 2000 pip drop. However we are going to take the smaller pattern on this as shown below.
1) We are approaching the strong resistance zone of 23,650
2) There is a bat pattern
3) This is counter trend, so we will wait for 2-3 hours to take this trade
Will update when we take the trade.
1) We are approaching the strong resistance zone of 23,650
2) There is a bat pattern
3) This is counter trend, so we will wait for 2-3 hours to take this trade
Will update when we take the trade.
Trade active
We are still waiting to enter this trade. There isn't any reversal signs. The best would be to short this against today's high but we will wait for a smaller harmonic pattern
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.