HKCHKD trade ideas
Hong Kong Hang Seng Index New Target 27,000 $HSI We have broke 25 and 26k, next stop is the 200 ma (red line), channel resistance and psychological level of 27k.
Because of how fast we have run in the last couple of days, I do expect us to retrace back to the blue line and even the 50 ma (yellow line) at some stage. It is likely that we retrace back to the these levels before going to 27k.
Hang Seng Index - Better days ahead?The Hang Seng Index has finally broken out of the short-medium term downtrend, as you can see, the market opened out of the channel I have drawn previously and is looking to challenge the 25,700 level. Expectations of a Biden win has led to positive expectations on the future growth prospects of the China/Hong Kong market.
In my opinion, I expect a contested election due to Trump's extremist behaviours. This may represent more uncertainty in the U.S. market; leading to a sell off. And may also act as a tailwind to Hong Kong/China with funds flowing in as a hedge. In the long-run, I am bullish on Hong Kong/China's growth prospects!
Views are my own and should be meant for discussion and educational purposes only. Please make your own investment/trading decisions!
Hongkong 50 may face a pull back?1.If we disregard the wicks, and pull out FIB retracement tool, we can see that HK50 is testing the 0,382 level. We can see that this level acted as support in the middle term and right now it has turned into resistance.
2.A blue wedge has formed on the daily chart, I disregarded the breakout because the resistance have been tested so many times since March. If HK50 break the FIb 38.2 level, I may pay attention to the resistance.
3. What’s more, we can see the daily RSI is coming close to the overbuying zone. When entering the overbuying zone, HK50 usually face a pull back. I pointed them out with yellow circles. Maybe when HK 50 meet the wedge’s resistance, the daily RSI will enter the overbuying zone, and it may pull back to Fib 23.6level or the wedge’s support.
HSI long the pullbackHSI breakout the downtrend channel ....
and form a big gap .
Looking good that money going back to HSI .
HSI being lifted upRead this article and digest it for a while .....
Do you think this trend will continue ? I think so with US coming hard on Chinese Companies that were listed in USA. We have seen how JD.com, Alibaba, Tencent, Netease, etc suffered temporary setback in its share price. We can expect more companies raising additional funds by listing in HK and that means more hot money will be flowing into its share market.
We have seen the Nasdaq of Asia, Isharestech performance here and new players that are queuing to join the IPOs fever will drive the share price higher and higher.
Hopefully, HSI which has been recovering slowly from the March Low will benefit from this wave of hot money coming into Hong Kong. And I do wish there can be a good spread of industries/sectors that are not in the Tech space as well. For example, Nongfu Spring water IPOs was pretty excellent as well.
1 more leg down or has climb already begun?Let's see if the recent downward move has got fuel for another leg.
Already in some longs, but feeling a little off after some analysis.
Will keep current longs but will be hunting at 23600 if it does go there.
HSIHSI looks terrible to be predicted to 20-40% further drop to 179xx and 118xx next year, based on monthly Elliott wave.
Anyway, it will still rebounce based on a short term Elliott wave it has finished from 304xx(Apr 2019) to 211xx( Oct 2020).
The rebounce target maybe 283xx maximumly by 17%.
HSI Hang Seng IH&S PatternWe have a great Inverted Head And Shoulders pattern showing on the HSI-Index.
These patterns have a fairly high accuracy rate, and are one of my favorites.
We measure the height of the pattern and multiply by chances of success for target range,
1726*0.71 (71% chance) = 1225.81 from breakpoint.
Entry: wait one full bar minimum as this pattern confirmed at the very end of the trading session last week.
TP: ~26060
SL: ~24092
R/R: Around 1.5-1.7 depending on entry
Pattern info: thepatternsite.com
daily analyses of HANG SENG INdex Hi friends
the daily chart shows the downtrend for the next few days so I recommend you not to keep in the portfolio
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HSI is still holding its range while SPY is falling since 4 dayHSI is still holding its range while
SPY is falling since 4 days
PTON should be a stronger stock than index
Hong Kong Hang Seng index getting interesting again. $HSI Currently, we are still inside the descending channel pattern.
If we do breakout, 26k is the next resistance.
Cloud pressing down!Price tried to penetrate the cloud but the resistance proved to be just too much. The weekly Kijun, weekly tenkan and monthly cloud ssa are just too much for price to penetrate. This week we expect price to take the path of least resistance, and that is down! The lagging is not yet in free territory so we reduce size and take caution.
Entry: 24 386.8
SL : 24 883.7
TP : 23 030
RR : 2.54
Hong Kong Stock Index (What happen to the Righteousness? )View On Hong Kong Stock Index (19 Oct 2020)
The demonstration in HK is over for now and it didn't have the outcome that some people want it to be.
So, the stability is back in HK for now and we shall see it's stock market trying to do some catch to their peer.
23K level shall be a decent and strong support for now, it can rise further on the UPside.
25k level shall be a decent TP.
Cheers.
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HSI H4 SHORT PLAN HSI reach weekly structure and downtrend channels.
wait for Price Action to confirm .
Short at 25000 area Catch the another fall move.
TP 1 : 24100
TP 2 : 23100
TP 3 : 22000
Hang Seng.....Breakout ahead?Hello Traders,
Hang Seng made a high on July 7 at 26782.6 and declined after to 23124.30 on September 25!
This move was embedded in a trend-channel and price peaked below the lower boundary at the low of this move.
Since that low HS returned to nearly the upper boundary of the channel and a „breakout“ above the upper line would imply a push to the possible wave ((ii)) high at 25847.
Sometimes price „bounce“ around the upper boundary before they break out, sometimes with a gap up above this price area.
As long as HS is trading above the area of ~ 24100 the trend should be to the upside.
A decline below this level on a daily basis at minimum could open the door to 23768 levels and below.
Have a great week....
ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Hang Seng - poised touch 21914 markAll time support and resistance levels drawn. IMF projections also negative for next months. Most likely sell to 21914 before a proper rebound
