Reversal bullish is happening! No more boozy dance
HK50 
HSI Hello everyone how was your trade since last update?
HSI turned bullish as forecasted from chart during my holidays!
Did you managed to gain some pocket money? I did with intermittent networks.
Let's review the Index action from wider tf; for the upcoming bull run.
1W Chart
For the week of 3 Feb 2025 the Index clocked a 1000pts +~5% gain. with this the W Chart had confirmed that the MACD formed GoldenCross with dark green histogram(with high volume)
19780 turned strong support level from resistance.
22760 the next resistance level to achieve and break the last Sept 2024 High.
Cross-checked with broader tf chart - D chart.
D chart on 27Jan2025
D chart today 11Feb2025
MACD break above zero level on 28Jan2025; confirming the Index turning bullish. The bullish continues since then till today!
KDJ is now at bullish zone but overbought.
MACD are still below zero level but seems arching and inching to break zero level to give confirmation of bullish.
Look at the 4H chart
There was a Golden cross formed on 3Feb2025 & 7Feb2025 (of course during these 4 days there was a slight adjustment on 5Feb2025 which probably the 🐳 flush retailers out).
MACD - still on the bullish zone but with reduced volume with light green histogram.
KDJ - Bullish zone with overbought zone above 80 level/
BB - Ranging at upper BB channel and continue to arching up.
Look at the 1H chart.
MACD is curving down (within bullish zone above zero level)
KDJ is in the bearish red zone almost entering oversold level of 20; wait for bullish reversal.
BB : crossed below middle line entering lower BB 21270 - 21470
Lower BB : 21265 (support level)
For day trade: Same strategy, sell at resistance; buy/TP at support.
Monitor the 1H,4H movement with confirmation using MACD & KDJ indicator.
Set your tf, have your entry and exit plan!
Get in the Golden cross and ride on the wave.
Support : 21250 ( next support level 21090)
Resistance : 21700 (if breaks then to retest the next resistance at 21955)
It needs to be stay above 21540 to bbreak the next resistance.
tradingview.com/news/te_news:447397:0-hong-kong-shares-end-3-day-winning-streak/
People sell on news. Here needs a healthy pullback, and markets continue its cycle. As a consistent and prudent traders, we should be Greedy when markets are fear.
It is easier to say than doing it.
Let's monitor the movement of the index and act accordingly and do not anticipate until we see confirmation from markets.
Again, sticktoyourplan trade according to time frame and set TP/SL.
Trading to make pocket money isn't that challenging and it can be boring and you can make it fun and zen with it.
Let's follow our own strategy and zen with 📙 and 🍵.
Happy Trading everyone!
Wishing everyone a good prosperous year of 2025 with many winning trades!
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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.
Related publications
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.