Long
Slippery road ahead, be careful
This is what I see in the Chinese index, SHCOMP.
It could either go higher from here to reach 3600 level or makes a correction to fill the gap (pink circle) or to the resistance turned support at 3093.
If it comes down to this level, do remember to add on your long positions.
Trade cautiously.......
It could either go higher from here to reach 3600 level or makes a correction to fill the gap (pink circle) or to the resistance turned support at 3093.
If it comes down to this level, do remember to add on your long positions.
Trade cautiously.......
Note
scmp.com/business/markets/article/3092948/chinese-investors-borrow-most-money-five-years-buy-stocks-bullWhen reading news like this, we need to have a mental alarm clock that rings in our mind, not to buy BUT understand what the buyers there are doing. Most retail traders lose money as they tried to catch the wave up, not knowing the late entry could be killing them (possibly). Of course, it could still have room to go up but a correction wave is imminent and one needs to be patient to get in and not rush to join the crowd.
Note
I will wait for gap to be filled up first , monitor the price action before getting in for moreNote
Notice gap is not filled yet.....Note
gap is filled up now. Let's see if there would be any bullish reversal todayNote
Praise the Lord
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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.