China A50 - Hitting 5 Months SupportChina A 50 have rebounded 5 times in the past 5 months when the price reached 10800. The market have not move out from the 800 points range since July.
Yesterday selling again brough the price to this price zone 10800 with a low at 10710 and quickly rebound. Trader please stay at the buy side if price moving higher high higher low.
The up swing projection as followed:
If price trade above 10880, target 10985.
If price trade above 10985, target 11090 to 11155 (major resistance)
If price trade above 11155, target 11429. (Second major resistance)
Price may correction after reaching any of the above target.
Chinaa50
[CHINA A50] WAVE 5 IN PLAY?The Chinese index may not have reached the BOTTOM yet, from a technical point of view, a wave (5) is working with TARGET around 10,600. With this in mind, we will try to take a short position as shown on the H1 chart.
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Thank you for support and trade with care!
China bearish: Buy the trade war tech dip BIDU NTES IQ TCEHY On Friday the 3rd August 2018 Chinese stocks ceded their ranking as the second-largest equity market in the world amid an elevation in trade tensions after the Trump administration said it was considering increasing the initial proposed tariff.
Buying the dip: Considering Chinese markets are at almost a one year low and under a temporary trade war, a knee jerk reaction will eventually take place causing an influx of capital across the market. I cant predict when this would happen or whether stocks have reached their bottom but I consider this another buy opportunity.
70 pips more to drop or 2.5% more on the downsideChina SH composite is approaching 2016 low at 2638.
Adding the background the BOC raised the forward reserve requirement for foreign exchange and RMB surged.
If look at the down side, 70 pips to drop/-2.5%, will possibly see a resistance showed at the 2016 retracement low @ 2638.
Personally also considered it as the psychological support of investors.
Hope the index can stop there and enter into a new rebound. goldtrader666
Ignore the manipulation, play the Chinese Trump card on BTCAll explained in detail on the graph but the simplification of the economic dynamic:
Major world market index over the last 12 Months have been highly correlated with BTC (exceptions do take place).
On Friday the 3rd August 2018 Chinese stocks ceded their ranking as the second-largest equity market in the world amid an elevation in trade tensions after the Trump administration said it was considering increasing the initial proposed tariff. Given China and Asian markets are major contributors to the value that BTC holds, BTC has taken a tumble despite US equity markets being on the rise.
Chinese markets will open in a few hours. One would hope considering they are at almost a one year low and under a temporary trade war that a knee jerk reaction will cause an influx of capital across the markets (US markets could be an exception).
In my opinion an exponential recovery of Bitcoin is imminent. The suppression of BTCUSD is from a number of temporary factors. I would consider this another buy opportunity.
Hang Seng to 24000?Hang Seng index has been correcting since late January along with other stock markets. I consider the first drop to 29000 levels as wave A, the later triangle pattern as wave B and the latest break of the triangle as Wave C of the Eliott wave ABC pattern. IF this wave count is correct, then Hang Seng could drop to 24000 levels in Wave C (if wave C = 1.62 times Wave A). Interestingly, this level also coincides with 61.8% retracement level for the bullish wave started from 18240 in Feb 2016.
Note: Hang Seng is unlikely to go down that much on its own. Does it suggest that we are likely to see a similar downturn in other markets such as Dow Jones? Let's wait and watch!
CHINA A50 - long - technicals and on news - the Chinees markets took a step back cause of trumps extra tarrifs on chinees products. in the coming week the chinees president is going to meet up with Kim Jung Un that should be good news!! also the RSI on the 4 hour charts is real low and is starting a rebound.
good luck!!