HSI Anticipating lower high Weekly Analysis, looking for a lower high compared to 22565 with Weekly Hidden Bearish Divergence on both RSI & MACD
Using retraces for entries, tight stop at the .786 in case of possible reversal and full position at the .886
If you agree or disagree with the setup, please let me know and explain ! We're all here to learn and grow off each other!
Hengseng
HSI1! 2022 JAN 10 Week
HSI1! 2022 JAN 10 Week
If breakout of 23695 and is supported, this may signify change in trend.
Possibility of demand returning as price has been peeling away from the
lower trend line (black).
Fresh trend line (brown) scenarios will be
1) bounce from trend line and breaking upward and supported by 23695
could lead to change in trend.
2) Oversold and market re-enters the asymmetrical price boundary
between the brown and black trend line.
Daily: Downtrend. Approached trend channel on low volume
and closing off high = weakness
H4: Up bar closing off high on low volume = weakness.
Entry will be based off the price reaction to these levels
Short on Test and Reject) | Long on Test and Accept
Have a sane trading week for Hang Seng : )
Hong Kong Stock Index (Ready for the another leg UP?)View On Hong Kong Stock Index (12 Mar 2021)
We are seeing some strength coming back in the HK and it will use 28,000~28,750 as support region.
Once the current resistant of 29400~29500 is broken, it shall rise a lot higher.
29,750~30,000 will be the next.
Cheers.
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HSI HengSeng - short , Short termHSI has managed to show some upside volatility and complete chart patterns. It has rallied from 29850 level where I suggested a Buy. We have some resistance in this area and could potentially be looking to close some gaps from here as it has rallied around 2000 points from last week.
HENGSENG - IndexHengseng found some support at the 50% fibo level but we will have to wait and see how long it is able to hold that level,
We will however eventually see the upside bull run in my opinion as the rallies globally get stronger. We have some down side support on the 200 MA where I see a possible drop first than a rebound to the upside. It can indeed start to rally from here but I will find it more convincing after its in contact with the 200MA.