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Hong Kong 50 CFD

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HK50 trade ideas

HSI (HK33HKD from Oanda)The chart above is how I plan to trade HSI in the coming weeks. I'm expecting some ranging to go on. At times, it'll look like a break-up/break-down only to pullback and close below/above a critical price area (resistance/support). If you are late to the move, don't chase it! You can try to wait at to enter a trade using your own method of entry at the 4 ellipses. Let me explain. *1st ellipse* I'll be expecting a trap move down coming up (Not able to predict the timeframe; days? weeks?), BUT when it does happen, do take note of these... 1st ellipse - Currently, Purple box is acting as a support. Expecting a false break to at least 24000 (below this is definitely likely). See how price reacts and close before making a decision to Buy. 2nd ellipse - Short term resistance from trendline. See if you want to do an intra-day/s short. 3rd ellipse - If there is a breakout(finally) from 2nd ellipsed area, price will want to retest that same purple line. Using your method, see if you want to go Long. **4th ellipse - Depending on how cautious the market is from here (see how the candles form to reach this point), I'm expecting price to lightly touch and retrace immediately or 'burst' through the outer purple resistance trendline for a false break and thereafter retrace and swiftly start dropping. *Posting this in advance as a plan (if it happens) as I do not seem to have time to post updates during the day while I trade intraday on other indices or currencies. There are of course more trades to take on the HSI than the above mentioned plan but intraday trades are taken based on the day's bull/bear strength and constant formation of candles so it's more difficult to post those with proper analysis. By the time those are posted, the move may already have begun and I usually don't see many views within 20mins (most come after 45 mins to an hour after) from the post like the USDCAD post I did recently (link below) and the move to TP was over in half an hour. TV may not be the right place for almost 'live' trade ideas. Anyway, Good luck and see you in the money!
OANDA:HK33HKD
by Hungrypippo
2
Hang Seng...Mixed picture!Hello Traders, since my latter analysis, Hang Seng has declined nearly 1000 points but failed to show an impulsive decline. The move since yesterday's low @ 24220 is either a small „three-up“ that is complete or it is part of a larger structure with higher price to come in the next hours. In the first case, HS will decline in the coming session to lows below the 24213 level with targets at or around the 24170-24150 area. More bearish potential exists. If the upward push is not complete, and HS need some more up-divisions, a target range should be at or around 24830-24852 level was the move have to retrace a 0.382 Fibonacci of the decline from 25847 and it is the 1.382 Fibonacci extension of wave „a“. We will see if the market will respect this level of resistance. I will update the count tín in the coming days. Have a great weekend.... ruebennase Feel free to ask or comment! Trading this analysis is at your own risk!
TVC:HSI
by ruebennase
1
Can round 3 stimulus resurrect the weakening HK market ?Read latest news here This candle that I highlighted is crucial as it sits in between the bullish trend line of HSI. This doji candle signify indecision amongst the buyers and sellers. Either side can be winning to lead the momentum for which now we do not know what the outcome is. We also see some support at 24,130 which in the short term, we might see HSI revisiting this level .Last night , the Tech sell off may influence the Asian market to follow as well. So, tonight closing for the US indices is crucial as it will influence how the Asian market performs next week. IMO, I tend to lean on the bullish side and view any short term corrections as an opportunity to go long. Now that the HK protests has died down, the government has one pressing issue on hand - COVID 19 which they are getting strong support from China. Mass testing is ongoing now in HK and it is a matter of time, it will be contained. Also, we have vaccines being developed by several countries (Russia, China , Singapore ,etc) which would be a big help to HK.
TVC:HSILong
by dchua1969
Hong Kong Stock Index (Trying to break out higer)View On Hong Kong Stock Index (25 AUG 2020) There are 2 major level that you need to watch out 24,200 as support while 25,500 as resistant. Now it is trying to break the resistant of 25,500 region and sooner or later it shall break up higher. It may take some time too. but we shall see 26,000 level soon. 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:HK33HKDLong
by SonicDeejay
2
Hang Seng Index plan (Part 2)This week could see a drop to the lower channel support buffer zone (purple lines) to test if there would still be interest in the mkt for this up move. Do remember that this seems to be a corrective move (up) relative to the impulse move (downwards) in March. Furthermore, we are already 5 months into the laboured corrective up move, hence we can see pretty heavy selling at various levels. If you are cautious, you can wait for the down move to begin (break of bottom channel/structural change; could be 1st signs of end of correction). However, upward speculation could take us to 27K levels. Hence, there could be some bullish profits to be made. If you want to stay on the bullish side , you can buy at the purple bottom channel lines and TP/sell at the red trendline. SL is placed slightly below the 2nd previous Higher-Low (all shown in chart). *My opinion is that it may peak in Nov-Dec b4 in confluence with EOY (akin to) profit taking and other conditions including fundamentals and technicals showing up at that stage. The nitro will burn out sooner or later. Let's watch the show. Be cautious with Bulls and use guaranteed SL if your broker provides it.
OANDA:HK33HKDLong
by Hungrypippo
Hang Seng Index plan (Part 1)No apologies for those who like clean charts *winks*... I have a bad memory; I need visual reminders in the form of lines, rectangles and ellipses among others. Fib78.6 retracement resistance of previous impulse wave down has been tested and rejected weeks ago but so has the Fib50 support recently. This week's value at Fib 61.8 is rather crucial as to whether I continue to stay bullish in an overall bearish biased environment (note that we are bullish on the current retracement happening since the last week of March hitherto, in the higher TF environment). If close is strong above the Fib61.8, I believe it will go test Fib78.6 again. Please see comments in chart above. Part 2 will be how I see and plan to trade the lower TF. TBC! Cheers to the weekend!
OANDA:HK33HKDLong
by Hungrypippo
Hang Seng...Temporarily neutral!Hello Traders, Hang Seng is moving in a trend channel since the March low`s. This move is either a w-x-y or a w-x-y-x-z pattern in progress. The latter pattern implies higher highs to come above the wave y high @ 26800 area to finish the move. The upper boundary of the channel could be a good target area for this idea. At 27278.5 price would meet the upper channel line and the down-slopping trendline (grey) which connects the ATH @ 33484 and the possible wave (2) high @ 30280, what would create a false breakout. At the 90 min chart, there is another target to observe. It is a wave „42 of lesser degree and it would end the countertrend move in this area (@ 25800 zones)! On the other hand, if the @26800 has finished a wave C of (2) we have seen the first waves of a fresh decline within a wave (3) with lower price in the coming weeks ahead. I'd like to see more clear patterns and evidence for a trade to one or the other side and stay temporarily neutral for Hang Seng! Have a great week... ruebennase Feel free to ask or comment! Trading this analysis is at your own risk!
TVC:HSI
by ruebennase
Beware Fake Gurus out there !!!!While searching for some resources online, I came across a video that talks about fake gurus out there who are making obscene amount of money from the students who bought into their expensive courses, books, clubs, private coaching..... Do a search on this Mr Dan XXX guy and be a judge yourself if this is for you... (Disclaimer applies) In the world of trading/investment, there too are fake gurus who proclaimed they can teach you how to make money from stock market, forex, etc easily. It is a vicious cycle of sort where the students were misled into an illusion of getting rich, mastery of the skills over the weekend. I understand the hype, motivation and energy in that environment are high as students high 5 one another and you get influenced when you see the guy beside you taking money out from his wallet and paying the course on site. .... You cannot think straight, to be honest. One thing led to another and before you knew it, you are heavily in debt and after 6 months or so, you are still at where you are......... Now, let's take things in perspective. There are good trainers/coaches out there but you have to do your homework. Ask questions , lots of it what exactly will you be learning from his class. Do not be dazzled by the advertisment, the "only 7 seats left" promotion,etc. Trust me, if you call them the next day and ask to be enrolled, they will take you in with both hands albeit putting on a show on phone or in person. I have said before that signals, strategies on understanding the market or instruments is only 10-20% of the equation. These are information that are available freely online IF you bother to do some research and be patient sifting the gem from the dirt. If you are already tight in your finance and spending $3000-10,000 on a course seems exorbitant for you, then you may want to use this money instead as your investment capital. Here are some steps you can take : 1. Open a LIVE and DEMO account Practise for a minimum of 3-6 months on your demo accounts and ensure it is profitable before you place a single trade on the LIVE account. 2. LIVE account - Find a broker that charges zero or lowest commission on the instruments that you are buying/selling. Take note that the commissions eat into your profits, this are your operating costs of business. 3. Trade per day - Limit to only 1 trade per day no matter how tempting the market may be. This delay is useful in that it trains you to be patient and not get ahead of yourself and also help you to get you balance in the sense that you are not going to strike it rich with trading over night. So, it is not the quantity of trades that determine your profitability. 4. Use micro or mini accounts - This way, you limit your losses and allows you to participate in live trading that offers you the true experience of trading. You need to go through the roller coaster ride of emotions when you are in a live trade. The loss of $1 or $100 is real and that experience is powerful if you harnessed it to goo use. 5. STOP LOSS - From the start, from demo account to your first live trade, ALWAYS use a stop loss. Don't believe the gurus or anyone that you do not need one as the trend is very bullish and you are sure to make money. Take care of your losses or risks and the profits/rewards will come. Be familiar with the process first, get it engrained, develop a system , repeat and rinse before you scale up. 6. DIVERSIFY - Yes, I love gold and silver but I love stocks, forex, futures as well. No matter how good you think you are, when the market starts to take an abrupt turn due to a black swan or any event (eg. upcoming election), your 100% investment in gold will not be wipe out. If your gold is down 10%, your other asset class should be up so that your total portfolio is pretty balanced. This takes time to widen, for beginners , stick to one class first. For me, I start with EURUSD on a micro account earning cents and losing cents for quite a while. It was frustrating when you see and become more confident that your strategy starts to work but at the end , you only make $1 profit instead of $10 or $100. However, your risks are equally small as well, so understand that equation properly. 7. EMOTION CONTROL - To me, this is a lifetime journey. If you look at your life, most of the problem stems from how you handle your emotions be it anger, frustration, stress, disappointment, resentment, envy, hurt, regrets, etc. If we spend time to blame the external world (people or environment) , in a way , we have outsource the power to them. We absolve ourselves from responsibility. And without accepting responsibility, we never really learn, do we ? You are too early or too late into the market has to do with your emotions more than the instrument itself. You read the news that Gold has shoot up to 2000 level and you entered 5 lots at one go, hoping to catch the next wave ONLY to be disappointed when it corrects to 1900 or so. Immediately you lost 5 x 100 points per contract and you are staring at the paper losses daily until it stabilised or recovered higher. If not, the pain of losing will be excruciating. Is it your greed to want to make it quick that led you to insert 5 contracts instead of 1? Only you know the answers. 8. Consistent with your strategy - If you are using Bollinger band and it works , then stick to it in both your demo and live accounts. If it suits you or you are very good at interpreting it and it yields you a high winning rate, then I see no reason to add on any new ones. For me, I started with moving average (you can see my charts 5 years ago) but I got confused in interpreting the price actions on different time frame). By God's grace, I stumbled on trend lines and I begin using it. It was much clearer and the more I use, the more familiar I become. You can see from my charts I keep it as clean as possible, NO volume, NO RSI, NO MACD, etc just plain old trend lines, support and resistance (horizontal trend lines really) and basic price action patterns like descending wedge, etc. I hope this article has been useful for some traders/investors who are still jumping from one indicator to another, unsatisfied with the trainer/coach teaching as it make you pay and pay or feel betrayed/angry/disappointed with the market. Look, the Market will go on with or without our participation. We are merely a tiny cog in the system. Without it, the system will not fail. The million dollar question is if you are not in trading/investment, can you make money elsewhere ? If the answer is a resounding YES, then hesitate no more. Get out of here and put your heart and soul into what you want to do , be it a online business or selling the next sizzling pizza. To your success !
TVC:HSILong
by dchua1969