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HONG KONG 33

Weekly Market recap 16: Preparing for the next leap. Global view: What's happening? While global coronavirus cases rise to 100 million, the risk assets keep rising as well! DXY remains relatively neutral, as it's range-bound between ~90.75 local resistance area and ~88.75 long-term support. I'd confidently consider trades in USD related pairs once DXY breaks either of the range borders. For now, it's better to abstain from USD trend continuation setups. Meanwhile, major stock indices form trend continuation patterns. The consolidation period in the global markets is the best time for the quality trend setups in the relatively strong indices. Betting on the strongest I picked three strongest indices at the moment: US100, JP225USD and HK33HKD. You can see that the American tech index has already recovered from the pullback and makes new highs, while the leading Asian indices are consolidating. Nikkei has been in momentum since it's come out from the 30-year range. Chinese economy looks best during the pandemic compared to the rest of the world. Initially, China A50 index, which represents China Mainland companies was relatively stronger than the Hang Seng index as the political situation in Hong Kong affected the latter one. Now, investors see the discount that appeared in Hong Kong stocks priced higher in Mainland exchanges, which motivates big flows of investments back to Hong Kong. It resulted in the short-term relative strength of Hang Seng compared to China A50. Trading tactics for buying Indices 1. The strategy in Asian indices is simple - buy the breakout the market closes above the recent consolidations (HK33HKD - above 30000; JP225USD - above 29000). 2. Although the best entry in US100 could be the breakout of 13200, I guess it still makes sense buying it intraday for a short-term momentum gain. Conclusion There is not much going on in FX market right now as USD keeps being bound in the range, meanwhile the major stock indices present trend continuation opportunities.
TVC:DXY
by Cherry94
Honk Kong 33 Ascending Channel - Short PositionHonk Kong 33 Short Order Entry: 28,267.8 TP & RR: 27,881.1 (1.5) Stop Loss: 28,525.9 REASONS FOR THE TRADE I hate to open a position against the trend, but I believe that the price will respect the upper trendline and reverse to test the lower trendline. The Stop Loss is set just above major resistance, so if we do get hit it's very likely that the price will continue trending up. The Market Flow indicator is not giving me a signal yet, still showing some strength, so if the trade setup is correct then it should start reverting soon.
OANDA:HK33HKDShort
by Quant_
USD/CAD : PRICE ACTION ON DAILY TIME FRAME 🔔Analysis of #USDCAD If you have found this useful then help us support my page by hitting the LIKE button. If you are not subscribed yet then please feel free to follow my page for daily updates and ideas. Thank you It means a lot to us! *** Strategy: Daily Price action - We will be waiting for all the confirmations to enter in this trade. A clear chart is Always the best business card for a trader. *** Your support and feedback will always welcome Thank you for your time. The information contained herein is not intended to be a source of advice or credit analysis Regards, Walter
by FOREXN1
7
Accumulation and Timing the Trades.For second week in a row, we sold on Thursday anticipating a selloff on Friday but both times it happened on Monday. We sold in good areas but timing was off by a day. I am not comfortable holding a trade over the weekend unless well in profit. It can be argued that trades should be given enough room and time. Valid point but Gaps are a common theme in HSI futures and i have seen gaps of up to 1000 points. I always insist on timing the trades because i personally like to time the quickest moves in the market and then spend majority of the time on the sidelines. Staying on the sidelines help me stay unbiased. For market makers to accumulate, we retail traders have to sell. In order for us to sell, market has to look weak, indicators have to give sell signals, wave counts have to suggest 3rd of 3rd of 3rd. Up moves have to look laboured while the sharp moves are swift and so on.
HKEX:HSI1!
by Dec0der
64
Accumulation ContniuesHSI isn't very popular on this platform as i rarely use to get 100 views on my posts but last week post was close to 500 so many of you were checking back as i was updating in the comment section during the week. I will post once on the weekend from now on and update in the comment section during the week as things develop. Couple of things i want to put forward. I only trade HSI and there is rarely a day when i don't trade but i can't tell you every trade where to enter or exit. I am just sharing with you what i see in the market at that particular moment. How you trade that is entirely up to you. Please don't ask me where is the bottom/top or i bought here, sold here, will market go up or down. I don't know. You don't have to know any of it to trade. Every moment in market just like each individual is unique. You yourself have to come up with a strategy which best suits your personality. I am just giving you a second opinion. Coming back to HSI, price spent majority of the week zigzagging between 24500-200. Thursday close looked really convincing for a gap down on Friday morning but it open up instead and concluded the week on a dull note. What it tells me is that they are not done here yet. Looking at the close, it appears that gap down and selloff on Monday is less likely. If Market goes back up to the selling zone 24700-800, it will offer a good opportunity to short. More often than not, price will go below the accumulation range in a trap move before reversing. Therefore, it is best to wait till it goes down to 23900 or possibly even below 23500 before deciding to go Long. During the accumulation, down moves are sharp whereas up moves appear laboured. Market has to look weak for dumb money to be on the short side in order for smart money to accumulate, vice versa during distribution. Having said that, i also believe that being on the short side until the very end of accumulation is the right way to trade as long as you are selling from the top of the accumulation range and taking profits in the middle or near the bottom. Do not expect every trade to be a big winner. Market spends vast majority of time range bound. Knowing when market is in the range and when it is about to trend requires understanding of market structure which can only come with time, discipline, dedication and perseverance. Ideas, suggestions, questions are welcome. Regards
HKEX:HSI1!
by Dec0der
24
Post Fed. HSI Super BearishRallied briefly but as anticipated it was short lived and sold off from first resistance. We now have an inside day fake out on dailies and are very close to the key levels 24300-500. Acceleration gap through there will signal the start of mark down. With the amount of distribution, 20k should be minimum but its not just the last 3 months. It has been going on since late 2017(refer to my 23 May post, linked below). If you are short, hold onto this one. It can be very big.
HKEX:HSI1!Short
by Dec0der
Coming Down NicelyAfter the Buying Climax on 7th of July, brief distribution was carried out between 25950-26250. Today saw a gap down and a selloff to first of the 4 unfilled gaps below which is acting as a support for time being. Key resistance above now is 25850-950. Move down so far appears to be in a channel formation. Major chunk of distribution took place between 24500-300 since the low in March. Gap through that will signal the start of a markdown and accelerated move towards 20k and below. Regards
HKEX:HSI1!Short
by Dec0der
4
Buying Climax and a Top? Zigzagged with huge volume(see above) at the open, took out the stops above the very important level marked in Yesterday's post and has since been on the decline. We will know for sure in next few sessions but there is a good chance that Today marks the start of a significant decline which will take HSI to 20k and below if my analysis of distribution near the 24k level are correct. First significant support is the gap at 25250-500. It can get real ugly in no time so trade carefully.
HKEX:HSI1!Short
by Dec0der
Update: SELL SELL SELL!!! More on the post earlier Today. HSI now has rallied beyond the point which i have marked for few weeks as the potential turning point. We may see brief distribution between 25950-26250 for couple of sessions and then move lower. I am to remain short until it breaks above 26800. I am of a view that the rally so far this month after the passing of controversial security law is to trap the investors who were on the sidelines waiting to see how the market perceives the new law. There is 10 weeks of distribution near 24k. If it reverses, 20k may come in no time.
HKEX:HSI1!Short
by Dec0der
2