Hang Seng Index (HSI). Correction Could Be Over. Target 51300The correction that I expected earlier (see related) could be over already with shorter wave Y.
The final confirmation trigger set at 29200. The target is 51300.
HONG KONG 33
Low Volume Consolidation and a break up.As updated on 16th, selloff last week from 25255 seemed uncharacteristic of a markdown. Gaps were quickly being filled and volume in the morning hour on 3 days following the top showed minimum enthusiasm from either side.
Too early to call but low volume consolidation may mean a developing triangle.
I am seeing something along the lines drawn at the chart. Keep an eye on S&P. It may coincide with S&P filling the gap from Feb or making new ATH.
If wrong, selloff should start in next couple of days. If so, refer to post "HSI Update" on Jun 13th for the anticipated path.
Regards
HSI UpdateTop did come albeit 2 days late, important or not, we will know in next few days. Ideally, i would like to hv seen more distribution between 25k-26k but as pointed out in previous posts, there was high volume selling in the last move up from 22400 so it was bound to run out of gas real soon.
Pullbacks should be capped below 24500. Definitely dont want to see 24800 tested anytime soon. 22900-22400 will be key and if the markdown has started, this area needs to be quickly overcome perhaps with an acceleration gap.
I am not of a view that it is the start of deflationary crash as many expect and fear. NOT YET at least. Refer to my 23 May post, "Markdown or Shakeout?" linked below.
Quickly down to 20k and back to 25k-26k :D. One can dream.
Strong Head WindsWe did gap up and didn't fill, trapping the late sellers but high volume selling in this up move. Unlikely that accumulation below was enough to carry it to new HIGHS in one go.
It can come crashing down at any moment but if it can get to 25300-500, that will be a very good short opportunity.
Regards
HKG33We had a very good trade on HKG33 last month, and now it's giving us another opportunity for a good risk to reward trade.
After hitting our previous target (22600) it made a double bottom pattern and broke back above the previous resistance
(23500 ish) and it seems like its holding above it and regained it as support.
this setup provides a 4R trade to take.
HKG33HKG33 has been trading in a massive range between 24500 and 23500 since April, last week it failed to hold the lower range as support and broke the range to the downside with massive volume.
now it's back to the previous support zone which should act as resistant now. also atm its showing weakness at the resistance. it provides a good risk to reward and easy to manage trade to take.
HK33 HKD BUY (HONG KONG 33 INDEX - HONG KONG DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to complete the pattern and watch strong price action for buy.
HKXHKD Shorting Opportunitywait for some bear signal in the hourly to short HKXHKD. The move from the zone make the four hour trend a down trend right now, with a nice pull back, we might see some sellers get in and we might sold off next few days. Overall, still waiting for some confirmation in hourly candles.
HK33HKD inside day, only want to take the breakdown short.I don't have much to add on this one, I would only like to take the breakdown short today.
The HK market already closed, so if it could close as a daily shooter, it would be an even better trade!
Let's see how it goes!
Long Hong Kong 50 @ 26,070; TP @ 29,000; SL your choiceLong Hong Kong 50 @ 26,070; TP @ 29,000; SL your choice
HK33 Idea Due to the trade war, the price plummeted. Currently, it retraced back around 50%, and wedging. We should wait for a breakout.
Short. SL 29760. Target area 29000-28800. Possible fifth wave ending diagonal forming. If it is the case, 4th of fifth wave from current prices should make its way to support area in 29000-28800.
HK33HKD HK 33 long swing trade setupHK33HKD HK 33 long swing trade setup. Entry on pullback into support zone.
SHORT HK33HKD approaching resistance, potential drop!HK33HKD is approaching our first resistance at 28975.3(horizontal overlap resistance, 61.8% & 50%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27325.9 (38.2% Fibonacci retracement , Horizontal pullback support, 61.8% Fibonacci extension )
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
HK33HKD approaching resistance, potential drop!HK33HKD is approaching our first resistance at 28975.3(horizontal overlap resistance, 61.8% & 50%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27325.9 (38.2% Fibonacci retracement , Horizontal pullback support, 61.8% Fibonacci extension )
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
SHORT SHORT HK33HKD approaching resistance, potential drop!HK33HKD is approaching our first resistance at 28975.3(horizontal overlap resistance, 61.8% & 50%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27325.9 (38.2% Fibonacci retracement , Horizontal pullback support, 61.8% Fibonacci extension )
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
SHORT HK33HKD approaching resistance, potential drop!HK33HKD is approaching our first resistance at 28975.3(horizontal overlap resistance, 61.8% & 50%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27325.9 (38.2% Fibonacci retracement , Horizontal pullback support, 61.8% Fibonacci extension )
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
HK33HKD approaching resistance, potential drop!HK33HKD is approaching our first resistance at 28975.3(horizontal overlap resistance, 61.8% & 50%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27325.9 (38.2% Fibonacci retracement , Horizontal pullback support, 61.8% Fibonacci extension)
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
[Trading Report] Hong Kong Index - Profitable Week With 3%Last week was a good week for Hong Kong Index (HK33HKD), the index was slowly trending up.
7 long trades was taken: 2 losses and 5 closed at profits
Total return: 3%
HK33HKD approaching resistance, potential drop! HK33HKD is approaching our first resistance at 29034.0 (horizontal overlap resistance, 50% fibonacci retracement) where a strong drop might occur pushing price down to our major support at 27444.0 (38.2% fibonacci retracement, horizontal swing low support).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
HSI continued 0.618 rejection + pinbar1. Still bearish momentum as shown in RSI
2. Pin Bar formed
3. Rejection from 0.618 levels
4. Price action bearish as price could not be maintained above structure.
Hang Seng Index reversed off resistance, potential drop!Hang Seng Index has reversed off our first resistance at 27219.5 (horizontal swing high resistance, 38.2% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 24437.6 (horizontal swing low support, 100% Fibonacci extension ). Stochastic (21,5,3) has reversed off resistance and we might see a corresponding drop in price below this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
