HKCHKD trade ideas
Keep Long Positions HSI After the breakthrough of the Long-term downtrend in Q4 2020, HSI would keep in ascending channel mid-term view. In Weekly chart, all 10/20/50 moving averages are in bullish moving average patten. In short terms, the uptrend started from Sep 2020, move to 27500 on next week , it would be a very strong support.
HANGSENG 30012021HSI weekly closed bearish and erase previous week gains.
break below 28k will trigger more downside ... next strong support at 27k
HSI tapped the EMA 50 and double tweezer pattern formed HSI tapped the EMA 50 and double tweezer pattern formed. Potential for a bounce at 38% fib retracement key support here !
HSI - Potential Bearish Engulfing on Weekly CloseIt is very crucial for the last trading day of January 2021.
If the weekly candle close below last week low, it will engulfed by a larger red candle indicating a shift toward lower prices.
1. As proven on last trading week of January 2018, 2020 which was also year high for that particular year when this happened.
2. Being resisted twice by 2019 year high at 30,280.
So, is the trend repeating? Is the market already top for the year of "BULL" (2021)? I hope not.
However, the past performance is not always*(sometimes it does)* indicative of future results.
Be cautious. Stay safe and Gong Hei Fat Choi! <3
HSI, chinese new year effect comingGet ready to enter
some where here might be a good entry. wait for reversal and set ur stop loss.
Hong Kong Stock Index (Meeting Some Strong Resistant)View On Hong Kong Stock Index (26 Jan 2020)
I expect 29,800 ~ 30,200 will be a strong resistant for now.
So, we can expect some pullback or sort. No hurry to buy in for now.
29,000 will be a good support.
Cheers.
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HSI on the pullback, could push back to the trendline ! HSI on the pullback, could push back to the trendline ! Stochastics also supports a further sell off!
HANGSENG 23012021WEEKLY CLOSED SLIGHTLY BULLISH.
IMMEDIATE SUPPORT AT 29K
RESISTANCE ZONE AT 30K-34K
Hang Seng.....Resistance ahead!Hello Traders,
Hang Seng has „explode“ to 29927.77 this morning. It has achieved my initial target zone well above, and it could be, that per my count, the move should come to an end or has ended today!
Ahead for HS is the resistance level at 30280.12, the high from April15, 2019!
The most probable scenario should be that HS is bouncing around this level for some days, or it will gap above this zone of resistance tomorrow or at latest early next week.
Note, that HS is advancing since December 23, and it is well overbought. So, a quick but sharp correction is just around the corner! But when will it start?
A close of the open gap. Left by trading on January 19 could be a first hind for this scenario.
All correction above th 27555 level are on lower degree. A dip to 27000 area would have ended the advance for HS.
Stay tuned for the next update.
Have a great weekend....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Do you believe in "Blue Monday" ?Here's an interesting article
to read.
Back in my corporate days when I was doing sales, I heard this from time to time from my colleagues. Being the optimistic sales guy, I brushed this concept off and instead load myself with more sales activities to fend off any negativity that could penetrate my mind. I refused to believe or buy in to Blue Monday concept. Instead, after work, I would go for a run or workout to end the day, feeling a great sense of achievement and ready for the next working day.
I know, sometimes there is this pressure to fit in , especially with the corporate mood. But Blue Monday, imo is not one of them. Whether you are in sales or administration, are you using this Blue Monday to get into a lazy mood ? And it affects the beginning of a working week , feeling low and moody. Why should it be this way ? Just because someone labeled it as Blue Monday and the world has to follow ?
Come on, you got a choice and your actions , consciously or subconsciously will have consequences. So, decide well what you want and take the right actions.
HSI - thus far has cleared nicely 3 levels of resistance and I believe the next 2 levels are within reach with possible pullbacks which I deem as buying opportunity. The stock market is nothing but a massive collection of peoples beliefs. The side that believes it will go up is higher than the side that thinks it will go down will win and vice versa. When both sides tie, then you see the market going sideways....
So, we trade our beliefs about what we think the market will be in the next minute, hour, days or weeks ahead. And our beliefs are constantly influenced by what we already know, what new information we take in , the news we read, the conversations you had with others but more importantly, yourself. You buy your own beliefs !
Reach the top of the ascending channelAfter the breakthrough on two weeks before, HSI is heading to the top of the ascending channel, it doesn’t mean try to short, like, just short call to make a cover call strategy or wait for some pull back for a long chance
HK50 TO GO UP!Don't see any reason to not go up as the markets look solid!
This is not financial advice.
Hang Seng Index Pullback?HSI comes to 28500 and it attacked very sharp from last week of 2020, is it pullback now or go directly to 29K?
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.
Hang Seng. Major Gartley completing shortly.ly.Hang Seng has a major Gartley pattern going back 3 years nearing completion.
I will be watching this over the next week as Time and Price are lining up as well. This is generally a good signal and has all the ingredients of a major top.
We also have a smaller ABCD completing in the same area.
Definitely one to watch over the coming days.
HSI has seen Stochastics resistance, near-term correction! HSI has seen Stochastics resistance, near-term correction is possible to our graphical pullback support and the 50% fib retracement.
