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Hong Kong Cash Index / Hong Kong Dollar

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HKCHKD trade ideas

Hang Seng...Powerful advance!Hello Traders, at my analysis, published on January 31, I placed a note below the chart, meaning that the next significant move is to the upside, may as a „countertrend“! The next day (Feb 3) HS gaped to the downside by the opening bell and raise since that day nearly 1500 points to closing of 27900 points today. While this advance is not a clear „impulse“ the odds are still valid, that we see a countertrend. For both interpretations, I need more patterns to judge. In the short term, HS has closed an open-gap, left by the trading on January 24-29. There remains another open gap from 28795-28449. This might be filled, but it is not a requirement. If so to come, Hang Seng will retrace more than a 0.786 Fibonacci of the decline, which will make a countertrend less probable. On a short term window, we can observe, that the advance from 26144-27823 is developing in a „three-up“ what makes it countertrend internal. So the next level of resistance is at or around the 28017 (0.618 Fibonacci)! This meets along with the center-line of the rising trend-channel that connects the highs and low`s of the w-x-y-x-z correction. A push above the 0.618 Fibo level opens the door to 28526. Any decline below the level of 27241 (closing) will open the door to a „gap-close“ on the open gap from 26786-27174, February 5-6! In this case, more bearish potential exists. Have a great week... ruebennase Feel free to ask or comment.      Trading this analysis is at your own risk!
TVC:HSI
by ruebennase
$HSI #HongKong at two resistance lines and overboughtHSI has pushed through the 28200 barrier which is the two-year 38.2% and one year 61.8% barrier, but has now reached the confluence of two channels, both of which suggest resistance and a pullback. There is clear channel and earlier low support at 26700. It’s not a great trade, but here is a good entry point, shorting 28400 (market). I have placed the stop at 29200 to be ultrasafe, so I need a full breakdown to 25750 or lower to get a decent (>3) RR. However, you could try to build a position with just 100 pt stop and see how you go. If there is upward pressure, then it’s 29000 next stop. Note the overbought indicator on this channel has worked since September. Also there is some similarity to early 2018 price/action.
TVC:HSIShort
by adatherton
Hang Seng....26000 level important!Hello Traders, Hang Seng declined to 26145.6 yesterday and then reversed to the upside. today`s session let Hang Seng gap to the upside and closed the day @ 26676. So the bullish idea of a series with „one`s and two`s“ is still valid. Note, that HS is on the way to touch the lower boundary of the trend channel that may occur at tomorrow's session. Stoch and MACD show overbought condition what may bring the index to higher price still. As before. At the bullish case, we have seen a pullback as labeled at the chart and we are at forefront to higher price still. The bearish view implies a wave (ii) to be done @ 29174.9 and declining price at the coming days and weeks. Note, that from an Ichimoku perspective a fresh „sell-signal“ occur this week because the cloud crosses from bullish (green) to bearish (red). Have a great day.... ruebennase Feel free to ask or comment.      Trading this analysis is at your own risk!
TVC:HSI
by ruebennase
1
This will passWith the latest news from WHO declaring the coronavirus as a global health emergency, the world is watching China, especially the city Wuhan. To all the Chinese out there who are fighting this virus, I want to say - keep the spirit high. Protect yourself and your family. I am confident this too will pass and a better tomorrow awaits for all. To those who are spreading false news and rumours whether out of fear or malicious damage, please stop and spare a thought for those who are fighting for their lives and those working tirelessly in the forefront, the medics, doctors, nurses, healthcare professionals ,etc. They too have elderly parents, kids to worry about. These unsung heroes kept on fighting despite the pressure mounting and the false accusations thrown at them. For God's sake, no human being is perfect and rather than blaming the government, those who eat live animals, or passing racist remarks, do something useful. If you have money, donate by buying medical supplies or volunteer to help out. If nothing else, stop listening to the negativity and worse, do not forward nor add on. It is adding fuel to the fire which the world needs less of now. Have a heart, people ! Ok, back to the chart. The first dotted bullish trend line is broken down and if you had shot from the pink rectangle area, ie. 28400 to current price of 26531, you would have amassed quite a good profits. Congratulations. The second bullish trend line is where the current price sits at and it is at this inflection point that HSI must rebound. If not, there are 4 support zones for it to retest. Taking the worst case scenario, if it did falls through the crack and retest the lowest support level at 24921, then HSI would have suffered nearly 15% loss from its 2nd peak at 29819. SARS , the closest we can benchmark took about 4 months (Jan to Apr 03)and the damage was around 15% loss as well. So, I will be monitoring this closely and update as frequently as I can. Meanwhile, my prayers will go out to the people in Wuhan and China who are going through this crisis. This too will pass......
TVC:HSI
by dchua1969
Hang Seng - an alternative bearish countI posted a bullish count for the Hang Seng a little while back but looking at the speed of this correction makes me consider more bearish possibilities. Here is one of them that suggests that the run up from December 2016 to January 2018 was in fact an extended 5th wave which now requires the necessary correction which is taking the shape of a double zigzag. If it can turn around before the level marked with my purple line then the bullish count gains favour again. Lets see.....
HShort
by tomj2417
Hang Seng...Bulls or Bears? Who will win?Hello Traders, Hang Seng gaped to the upside by the opening and made a high @ 26818.8 at the first trading hour. The index then declined for the remainder of the session to an intraday low @ 26295.5! The a/d-ratio was negative with 15 stocks advancing or neutral and 35 stocks declining today. On the two graphs below you will observe the bullish and the bearish count on a daily basis! Let`s go! Bullish count: As before, the bullish variety is a series of „one`s and two`s“ to the upside. As you will notice, today`s intraday low @ 26925 is close to a validation level @ 26006 were it touches the low of a wave 2 of one higher degree. This would violate the rules and guidelines of Elliott waves. As long as this low is in place, the count is still valid. Another view to this move is, that the high @ 29175 is a wave „b“ of a flat correction, (may a „running-flat“) which will terminate above the low @ 26006! Both interpretations are still valid and will keep the count alive. The bearish view differs from the bullish in that, that the low @ 24540 was a wave“1“ and the countertrend after a „double zigzag“ correction that terminates at the area of a wave „4“ of lesser degree. It is a bit „triggy“ to count the decline from the wave „2“ high the low in wave (i) as an impulse, but still possible. It looks more as a „three-down“ so this option is also valid too. Overall I think the decline is not done and it should terminate above the 26006 levels to keep the bulls alive. Any decline below this level would bring the bears into forehand and open the door to lower prices in the coming days and weeks. Have a great weekend... ruebennase Feel free to ask or comment.      Trading this analysis is at your own risk!
TVC:HSI
by ruebennase
Hong Kong Stock Index (Can dive lower!)View On Hong Kong Stock Index (29 JAN 2020) HSI just retest the lower band of UPtrend line. After some struggle, it shall dive lower. I expecyt 26,500 - 26,800 region will be a next TP level. At the same time, 28,000 will be a ceiling resistant Whatever method you use if you do not follow the proper rule of risk management, it will have detrimental effects on your account. Feel Free to "Follow", press "LIKE" "Comment". Legal Risk Disclosure: Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor. DISCLAIMER: Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice. Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
OANDA:HK33HKD
by SonicDeejay
Hang Seng...Not done to the downside!Hello Traders, Hang Seng gapped this session to the downside, leaving a massive open-gap @ 27949 – 27101 and crossed the middle line of the corrective trend channel. So this channel implies a corrective „character“ and opens the door to lower prices in the coming sessions. The high on January 20 @ 27174.90 possibly was a wave „X“ as the move broke out of the upper line of the trend channel but failed to exceed higher highs at the following hours. Instead, it declined back into the channel and made lower lows, leaving an open gap and touched the middle line of the channel 27706 on Jan. 23. The next day Hang Seng gapped lower again and closed the session at 27160. This is near the target range I called at my latter analysis. The next target level is at ~ 26750 area, the up-sloping trendline, depending on when and if it will achieve. If so to come we have to check the pattern for more information. For now, it is clear to say, that more bearish potential exists! Today`s gap-down could be an „acceleration-gap“, which often occurs at a wave „3 of 3“ in an impulsive pattern. Only a push above 27988.60 will clear the chart for higher price to come (hourly close at minimum). Till then we observe the pattern very closely and judge in the coming hours what`s next to expect. Have a great week... ruebennase Feel free to ask or comment.      Trading this analysis is at your own risk!
TVC:HSI
by ruebennase