Summary of the week and a swing long position & locked profit
FX:HKG33
Summary of the week for the index.
1h chart form a golden cross below zero line and happen that 4h chart had formed the same golden cross even though both are below zero line. I took a aggressive & several long position.
TP at 20735 level at time was looking at the index trying to close the week gap.
I did keep some position open hoping that the US trading time could continue to boost the index.
But it seems it loose its steam and 4h chart not strong for MACD & Signal line breakout zero line.
the Index closed at 20506.46 (still record a decline of 1.21% -250.70). Looking at the W chart it seems pulling back and let's continue to monitor if its prepare for the next climb.
You may note that the W chart the MACD is above zero line still consider bullish but with weak lighter green histo.
Jya. Let's zen during weekend with 🍵 & 📙
Zentradingstrategy
stuck in the middle breakout or breakdown?
FX:HKG33
Hi ya everyone here's to a week filled with optimistic, progress and hapiness - may the market treat us well!
As you can see from previous post ; last week 1h chart that the MACD & KDJ movement that gave us some insights testing the support level. It has climbing up steadily. quite handsome!
It didnt breakdown to 19753 level and staying above 20240 level.
Last Friday HSI closed at 20804.11 (+725.01; +3.61%) ; however it still record a down 447.87 ; -2.11% for the week.
As mentioned, a healthy pullbackis just the market catching its breath before the next big climb!
This D chart showing the momentum has turn weak the MACD had a dead cross and the KDJ is at weak zone too.
For today, we are looking at 20700, if it holds above this level then it could break 20900 and next resistance at 21395.
May trade within the range of 20400 - 20600.
For this week, the key support level at 20400 (the 52MA).
Note : the last high was Jan'23 (closed at 22635); the recent high (closed at 23119) early this month Oct'24.
Happy trading everyone!
My take:- For today I'll watch and wait for a better entry point to avoid my previous mistake enter the party too early. No action is an action.
while waiting let's zenning with 📙🍵
Testing the Support Level. One to Zero.
FX:HKG33
Testing at strong support level at ¬20240 if it breached, the index is going to test 19753.
Hi ya!
How is everyone looking at Hang Seng Index and its performance last week?
From the 1h chart with MACD movement, seems the mometum is weakening, both index and indicator are in bearish crossover.
As mentioned in previous post, we prefer to see the index climbing up the staircase slow and steady which is more sustainable.
Nonetheless, for shorter tf swing trade continue to short. Manage position size and the bearish mode expecting to continue at least for this week.
Enter short position where tf 1m,5m,15m diverge and using JD line for confirmation of bearish momentum.
As you can see from the D chart, the movement and the momentum has been declining and we can see the MACD and signal line is crossing down. You may check other shorter tf 12h - 30m at point of writing ; the index and indicator are below the zero level.
With expectations of more stimulus from gov ; the investors still hesitate to take further position with the recent disappointment.
Sell the news, buy the dip! This pull back is healthy.
With longer tf W chart the index is on the uptrend, time is all we need.
Continue to monitor and set SL for all position.
Happy trading everyone!
HSI significant pull back! FX:HKG33
Look at 1H chart movement together with the MACD & KDJ indicator, the histogram for MACD line & signal line is getting weaker (you can see both indicators curve seems lower than the previous wave). We should monitor.
marked the time zone where the index turned bearish for the 1H chart. There was no re-entry position as trading in Asia time zone.
The significant pull-back continues when market re-open here. It's 10% pull back this morning. Well, this is a good chance to look at for a better re-entry level. However, we should be cautious to avoid catching falling knives 🗡
what we see from the 1H chart MACD & KDJ both are on the downtrend level/bearish red zone. However, we can look at the support level at 21580. If the index stays above this level then the uptrend is still intact. Otherwise, we could expect a more significant pull-back (cross-check with longer tf chart 4H,8H).
For shorter 1H tf swing trade check the 8H Chart for support/resistance level
Find support level at 21500-21700
and resistance level 22000 -22300
It has been climbing too fast and taking a break now. Personal POV, prefer the movement slow and steady forming a stable staircase; more sustainable.
Happy trading everyone! A pull-back is healthy for taking a breather.
Narrow Escape! Trust what you trust.FX:HKG33
Entered too early before the pullback. Has to hold over the trading closed day. Was intended to SL the positions if the downtrend continue.
However, the market reopen with strong bullish volume. The short time frame (tf) turned uptrend and the index gap-up. However, the MACD + KDJ showing uptrend for 1H chart. Hence, decided to continued to hold the position.
∴ Continue bullish for HSI based on W chart and try to look at Long position for 1-3 weeks tf.
This ain't a get-rich-quick scheme, folks. We're just here to chat, not make deals.
Disclaimer: The information provided here is not a recommendation to buy or sell any particular financial instrument. Individual circumstances and risk tolerance should be considered when making investment choices."
BTCUSD Short breakout setup - 1HRAs I mentioned in the previous bitcoin post, my confidence of this move continuing upwards is dwindling. The longer we move sideways, the more likely it becomes that the direction of the next move is down rather than up. We had 2 failed bullish setups, which indicates that Bitcoin doesn't really feel like turning bullish just yet
Currently we’re stuck between the red multiple timeframe support and resistance levels. If we break below the support at 3520 I’m ready to enter short slightly below that level as long as the indicator shows me the short setup. The next level of MTFA support is at 3390. Take (partial) profits here and tighten the stop.
Of course it is possible that we break upwards, or move sideways for another few days, this is Bitcoin after all..
If the bearish setup disappears the trade should be canceled promptly, no need to take unnecessary risk here.
The 4HR chart is the only timeframe still in bullish territory, but as we reach the breakout level the 4HR will move into bearish territory too. All timeframes will be bearish again if/when that happens. The CMF has gone negative on the 4HR as price was rejected from the MTFA resistance crosses, indicating that buying pressure has died out.
The daily doesn't provide any new or useful information, still in a bearish posture here. the RSX (a smoothed non lagging version of the RSI) has been rejected form the 70 level, failing to reach the overbought level.
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