Hang Seng Elliott Wave Analysis: Correction HappeningHello Traders,
In this Elliott Wave Analysis, we will have a look at the Hang Seng Index.
Short-term view suggests that the rally to 31521.13 high on 6/07/2018 peak ended blue wave (2). Down from there, the decline to 27990.45 low is proposed to have completed blue wave (3).
The internals of blue wave (3) unfolded as Elliott Wave Impulse structure with extension. This suggests the sub-division of each wave lower (i.e. red wave 1, 3, and 5) unfolded as 5 waves structure. Below from 31521.13 high, Red wave 1 of blue wave (3) ended in 5 waves at 30874.1 and red wave 2 of (3) ended at 31242.86 high.
Then down from there, red wave 3 of (3) took place in extended 5 waves & ended at 28169.1. Up from there, red wave 4 of (3) ended at 28962.29 high, and red wave 5 of (3) ended at 27990.45 low. Above from there, the index is correcting cycle from 6/07 peak in blue wave (4) bounce.
The internals of that bounce is expected to unfold as an expanded flat. As far as a pivot from 6/07 peak (31537) peak stays intact, the index is expected to fail 1 more time within blue wave (5) towards 27588-26540 target area next.
Afterward, the index is expected to find buyers there for larger 3 wave reaction higher at least. We don’t like selling the Index
Hang Seng HSI
Hong Kong Stock Index (* A nice rebound shall be underway)Hong Kong Index
We are seeing a very potential early signs bullish rebound.
If all works well, it can swing back to 29280 and eventually 30200 region.
I am NOT with the BEAR anymore.
Press "Like" and "Follow". We will help you become a better trader
Sonic
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation.
We, Sonicr Mastery dot com is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
Looking for Breakout in HSIThe Hang Seng Index has been in a downward trend for one month (since 8 June) and currently undergoing a downward channel.
The US and China tariff and trade war issue has been affecting market environment as well as investor sentiments for the period.
We have finally come to 6 July, the effective date of the US tariff, and we witnessed some heavy rebound in the trading day.
Looking for a breakout and the big move on the direction in the next trading day.
Will it be a chance of REVERSAL or CONTINUING WITH THE TREND?
Feel free to leave comments / share your idea!
Long Entry: 28500
Short Entry: 28100
Dow Looking DownAs we come to the EOM, a pretty well defined Monthly bear flag can be seen in the Dow Jones Industrial Average. Alongside this bearish setup, the current trade war is posing a big threat to global economies. Rising interest rates, tax cuts in a growing US economy, trade war threatening growth across the globe, this is not a time to be complacent in my opinion.
Furthermore, take a look at China's primary index (Hang Seng -- HSI) on the Monthly chart. A very similar pattern occurred there before the heavy selloff that we are seeing now in China. Could definitely see some turbulence ahead. But as always, no guarantees.
Hang Seng Long Short IndicatorEverything should be self explanatory in the chart. Of course - this will work until it doesn't, but for now, it seems like a pretty damn reliable indicator.
Go long SPY when the Hang Seng Index hits the lower range.
Sell SPY long and short the Hang Seng Index (hong kong stocks) when the top end of the range is hit.
The manner which this has historically timed major market tops and bottoms is rather ridiculous. The data speaks for itself to be honest.
HSI captured in sideways trend channelHSI moves within a neutral trend channel. It tested the upper limit and is seemingly now on the way to the lower limit. In between we find a fib retracement 78.6% - but this one seems to be weak.
The indicators are confirming the new short trend (RSI broke the trend to down, MACD is heading to negative zone with trigger line short before crossing the signal line).
I think HSI could rebound again on 29.500pt - but if the support is broken a further fall is possible. In this negative case the next support would be fib retracement 61.8% at 28.917 pt.
The fall out of the trend channel to the bottom would signal a bearish trend. A possible EW-corrective movement could follow as mentioned in the chart.
HSI: Top of range for 5% short tradeThink the chart says it all, HSI futures at top of consolidation channel which sets us up for a nice short to test the bottom of the range at 29550, for 5.5% downside potential. This has a clearly defined stop out range and gives optionality for a potential channel breakdown to test a ABCD target of 27500.
HSI: Top of range for 5% short tradeThink the chart says it all, HSI futures at top of consolidation channel which sets us up for a nice short trade to test the bottom of the range at 29550, for 5.5% downside potential. This has a clearly defined stop out range and gives optionality for a potential channel breakdown to test a ABCD target of 27500.
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.
HANG SENG INDEX - Hovering Around Risky ZoneLaburlah Technical Coverage (08-MAY, Tuesday):
HANG SENG INDEX
Technical Analysis Breakdown
1. Trend: Bearish
2. RSI & Stochastic: Bearish
3. MACD: Bearish crossover
4. Parabolic SAR: Bearish/ newly emerged signal
5. Supporting trendline: 29,500 - 29,866
Disclaimer: The abovementioned is purely for sharing purpose, you should seek advice from relevant personnel and do your own analysis before making your move.
Market Review 09/04 : BTCUSD, SPX, HSI, AUDNZDHope this idea will inspire some of you !
If you want to see my chart more closely, click the share button below that video.. You will be able to have access to the chart used in that video.
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
Indicators used in this forecast are PRO Sinewave BETA & PRO Momentum .
You can check my indicators via my TradingView's Profile : @PRO_Indicators
Kindly,
Phil
If you want to learn more about the basic rules to trade with my indicators here's the educational video link :
Market Review 06/04 : BTCUSD, SPX, HSI, TLSA, NVDA, AUDNZDHope this idea will inspire some of you !
If you want to see my chart more closely, click the share button below that video.. You will be able to have access to the chart used in that video.
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
Indicators used in this forecast are PRO Sinewave BETA & PRO Momentum .
You can check my indicators via my TradingView's Profile : @PRO_Indicators
Kindly,
Phil
If you want to learn more about the basic rules to trade with my indicators here's the educational video link :