HKCHKD trade ideas
Short on overhead triple bounce rejectionShort FIB rally back into 50-80 zone
Reason for short:
1. Triple bounce at top of channel.
2. Break of swing low level at 23800
Hong Kong Stock Index (The Ghost Of the Past is Showing Up)View On Hong Kong Stock Index (21 APR 2020)
We are seeing weakness in HSI.
It can swing down to 23,000 region
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HSI long term trendEvery 3-5 years or so, there is a short correction in the market and it ensures the market to grow sustainably. Although this is a complete different scenario compared to 2008's situation, the downslope pattern is quite similar. A downtrend is a downtrend.
I believe that the bottom has not yet came by looking into the downtrend timeframe. However, it likely won't take a long time until its recovery so the best thing to do at this moment is "wait and see".
HANG SENG Some big overlapping monthly support areas below. The areas are broad and require a lot of selling power to break down.
HANG SENG INDEX (HSI) MonthlyDates in the future with the greatest probability for a price high or price low.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick. If multiple Djinn prediction dates are missed and are plowed through by same color Henikin Ashi candles the asset is being "reset". The "reset" is complete when Henikin Ashi candles are back in sync with Djinn price high or low prediction dates.
One way the Djinn Indicator is used to enter and exit trades:
For best results trade in the direction of the trend.
The Linear Regression channel is used to determine trend direction. The Linear Regression is set at 2 -2 30.
When a green Henikin Ashi candle intersects with the linear regression upper deviation line (green line) and both indicators intersect with a Djinn prediction date a sell is triggered.
When a red Henikin Ashi candle intersects with the linear regression lower deviation line (red line) and both indicators intersect with a Djinn prediction date a buy is triggered.
This trading strategy works on daily, weekly and Monthly Djinn Predictive charts.
This is not trading advice. Trade at your own risk.
Hong Kong is facing 3rd wave Read latest news here !
Firstly, I was happy to hear that China has resumed operating again and workers are returning to their factories and offices as well. But, with the return, including going back to HK, it also creates the next wave of Covid 19 cases!
After the second wave , there could be a third wave from mainland China. This cycle could go on until we have an effective vaccine, or the collective immunity in the community reaches about 60 to 80 per cent
Yuen Kwok-yung, epidemiologist, University of Hong Kong
Let's see how the chart is doing. On the day chart, we can see it is now in a rising wedge pattern. As soon as it breaks down, we can see the price action revisits 22 Dec 16 low or even lower at 20695.
Be patient with this pattern as the price can still goes up a little more. Get ready for short, imo.
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Hang Seng...The first waves of the next decline?Hello Traders,
Hang Seng has achieved into the cited price area of 24395, the 0.618 Fibonacci of wave (a).
Today's intraday high was @ 24603 and it is possible to count the move as a „five-up“. So the odds have increased that the countertrend that started on March 19 is complete.
In this case, the next significant move is to the downside. A break of the wave iv low @23897 would strengthen this idea. A drop below the area of 22756, the possible wave (b) low, would be the next good hint that the next wave down has started.
At the 30 minute chart, you will observe, that HS is declining to the lower boundary of the trend channel and a break below it, would be another good argument for the end of the advance.
On the other hand.
If HS will advance higher at the coming session, it would make a „five-up“ to „nine-up“ and it could advance to 25408, were waves (a)and (c) are equal.
I will update the count if more evidence to one or the other side occurs!
Have a great and safe week.....
ruebennase
Feel free to ask or comment.
Trading this analysis is at your own risk!
HANG SENG SHORT TRADE IDEACurrently price traded back to the important 24600.0 level where if we look to the left it has been retested as well violated many times, will only look for a short trade if i can see a high test candle closed below 24600.0 level.
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Disclaimer
the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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Thank you for your support!
Hang Seng...More evidence needed!Hello Traders,
Hang Seng achieved a 24262 level yesterday and shows weakness this day. It closed the latter two days below the 0.618 Fibonacci Extension of wave (a).
The drop to 22756 was a wave (b) and the move to the upside may need one more down-up sequence to complete wave (c) of ((iv))!
Overall the decline to fresh new lows is not done. Lower lows are still at forefront!
If yesterdays high was all of wave (c) of ((iv)), a significant decline is next to occur.
So, fresh new lows are what next to expect in the coming days and weeks. Any decline below the possible wave (b) low @ 22756 would greaten the odds, that the decline is underway.
While it is possible that HS will move above yesterdays high (@ 24262), a target range could be around the 24395 area, which represents the 0.618 Extension of wave (a)!
Any move to 25408 would alter the odds that a wave ((iv)) is underway, `cause it would be too large in terms of price.
In this case @ 21126, a wave ((i)) was done and a wave ((ii)) is underway. A target range for this idea is around the 25408 area, where wave ((ii)) would retrace a 0.618 Fibonacci of wave ((i))! Note the alt labels below the graph.
So, as before. Any drop below the wave (b) level @ 22756 would strengthen the odds, that a new wave of declining price with targets below the 21126 area is underway.
Have a great and safe week....
ruebennase
Feel free to ask or comment.
Trading this analysis is at your own risk!
HSI punches above key resistanceGlobally, we have seen a meaningful rally from the lows of the coronavirus market rout, one of the fastest in history. It seems that risk on sentiments are returning from the bulls as global markets print higher lows. A recovery may be imminent.
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.
Hang Seng...Sideways. Waiting for a breakout!Hello Traders,
not much new to add for Hang Seng.
The market is trading in a more or less sideways move and shows no clear odds to one or the other side.
The move from the possible wave „4“ high is ranging within a trend channel and a breakout above the upper boundary and a move above the 23600 area would imply more potential to the upside.
A possible target range should be at or around @ 24184.50, the wave (iv) high of one lesser degree. This would coincide with a 0.618 Fibonacci @ 24634.50.
But it would be too large to be a wave „4“ and so the odds would increase in this case, that wave „5“ has ended @ 21139 on March 19 and a countertrend in a wave „2/B“ is underway.
On the other hand. If more weakness has to come for HS and it would break into the gap-range of 22497.6-21696 from March 23-24 would strengthen the odds, that indeed wave „5“ is not done and instead HS has finished a wave „4“ on March 27!
A break above the possible wave „42 high would alter this scenario.
Have a great and safe weekend.....
Best regards to all my followers and traders and their families around the globe.
Stay healthy and safe! #Stayhome!
ruebennase
Feel free to ask or comment.
Trading this analysis is at your own risk!
