HSI Short: 5th wave downI am proposing to short HSI given that the risk is small right now and that price has stalled for the last 3 days at the price wave 1 end area.
The risk to reward is good now.
MHI1! trade ideas
Update on Hang Seng Index Analysis on Weekly timeframeDuring last week, HSI has successfully broken 28,075 short term support level and dropped over 1,500 points to our target near 26,505. Currently, HSI is retesting the previous low at that level.
We are expecting the market to break the 26,505 structure level and if it does, we would be looking at a retest of structure in the lower timeframe for our entry. Potential target could be near the next low which is around 24,500.
Gordon @GoreStreetTrading
Previous Analyis
Hang Seng Index Analysis on Weekly timeframeHSI has retraced roughly 75% from the top 33,516 (January 2019) since the uptrend started on 28 December 2018. In April, we have seen HSI spike up to the 30,200 level where price was rejected. Recently, price has formed a short term support near 28,075 level since mid-June.
Price has now printed a higher low and a lower high which therefore is not clear where the market is heading in the long run. This means we need to see a breakout of either higher low or lower high to see a clear direction.
In the short run, we would expect the market to hold up near 28,075 level and try to push through the upper bound (downward trendline). If price could break and close above the most recent LH 30,220, the market may retest previous 31,500 resistance zone.
On the other hand, if we see price push and close below 28,075 short term support level, we would look for a short term retest on lower timeframe of 28,075 for a potential short position down to 26,700 (most recent low),.
The reason we have two possibilities is due to the current market conditions. We need to see a break out one way or the other to make a directional judgement.
Gordon @GoreStreetTrading
$HSI: Break down from pennant formationWith no Fed support and 1 tweet from Trump, $HSI has finally broken down from the pennant formation which is situated in the middle of a long-term channel pattern. With the breakdown, $HSI should be revisiting the lower boundary of the long-term channel at 19.8k over the medium term.
The Chinese will not bend over backwards to strike a deal with Trump whom they do not trust. Think opium wars and the ABCD encirclement of Japan pre-WW II. In Xi's mind, this is destiny calling, China's turn to stop the cycle of foreign oppression, the reason why he is President for life. Contrast that to Trump's transaction approach and cavalier attitude to tariffs.
When 941, 939, 3988 etc are breaking down from long-term support levels, it is time to get out dodge.
Hang Seng Futures at SupportUnless rate cut is by 50 basis points (unlikely), HS futures should bounce. US-China 'tensions' is just noise. There hasn't been news on that front since 2 weeks ago.
Confluence of coincidence: $HSILast Oct I published a series of charts named “The preponderance of evidence”, I think it is time for a new series. I think the charts itself should be self explanatory. Feel free to drop me a line on what you think.
Morning star on HANG SENG. 29 june Trading Idea. With Xi and Trump meeting this weekend, I'm expecting good news from them as the market close with a very bullish pattern. Going long here should be very rewarding as there is potential for upside than downside. 27910 will be our SL.
<TradeVSA> Pullback in Downtrend for HSI Futures?Signals in the daily chart:
1. Distribution with Up-thrust at the top
2. Sell-Off bar with high volume
3. Upbar to test the high of Sell-Off bar and resistance
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
Potential Harmonic PatterLong around 28,756 area with a stop-loss below previous low @28619, Target #1 @29020, Target #2 @29218
Double bull flag formed during today's session, 1:3 RRRPotential reversal targeting 29020 (29k figure) and 161.8 fibo extension @29,201-18, Pattern invalidates below 28,756
Trade safely, and never invest money you cannot afford to lose. This is not a trading advise or recommendation, trade at your own risk.
HSI, HSILONG, HSI1!, HSI2019, HK
Chinese Indexe peaking as wellNotice RSI going dlat and being sold off before reaching oversold conditions. All wwhile price action making new short term highs I think we can qualify as a divergence. Not to mention the nice retrace back to textbook fibbonacci levels
Hang Seng...Wave ((c))in progress?!Hello Traders,
Hang Seng Future (March Contract) has risen as of todays session to 28775.
As per my count a wave (iv) is underway. This scenario is in the cards, as long as the level of 28838 (blue trendline) is valid. Any cut of this level would imply that a bottom should be formed at 28410. But for this I need more evidence.
If the bearish view comes into play, the next move should occur to the downside, probably stairstepping lower to 28672-28598-28533. Below this level a drop to the low at 28410, the wave (iii) is next. If an expanding-flat pattern is underway, we need to see more weakness below this level (28410) and then a drop to 28016 level, which is the possible wave ((a)) low.
If a running flat is in progress, which would fit the overall strenghten of Hang Seng, than the wave c would not move below the wave ((a)) low. After finishing this pattern a sharp push to the upside is next to occur.
The third alternate is an triangle underway, which also will fail to dropp below the wave ((a)) low.
A lot of „if nd when`s“....The picture is not clear right know, but i favor the idea of fresh new los shortterm.
Have a great day....
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!
Hang Seng...Future lead the way!Hello Traders,
today I`d like to show you Hang Seng Future, because of the price development suring after session trading causing by US markets.
Hang Seng (normal trading hours) closed the day with modestly losses @ 29113. The Future had the rest of the day to go...and he did.
By opening the US markets a sharp and strong decline occurs at markets and HS declined to an intraday low @ 28629, close a bit lower the week at 28671.
The Future dropped below the low of March 22,2019. This decline is in terms of price not as long (or longer) as the decline from29255-28016, which I have label an a-b-c pattern.While we have overlapping wave-structure (mark with the red line) it could not be a double 1-2 pattern. So one possibility is, that at 29630 a wave ((iii) finished and a complexe pattern is next to develop.
While the correction after the wave ((i)) high was an „expanding-flat“ pattern I think that the next correction at the same degree will morph eithter into a more complex one (such as a contracting triangle) or it will be a sharp and steep decline, causing by the rules of alternation at the wave principle.
For now it is too early to judge, but the coming week may give an answer which one will develop!
The cash marekt at Mondays opening will may recreate the decline of the future market. The indicators are showing oversold conditions, indicating more declines to come. May it occur short after the opening bell.
From a trading perspective I would be standing off the markets til the pattern becomes more clear.
More bearish potencial exist and for short-term the high at 29630 is the level to be break for new ATH`s, which I think sooner or later will occur!
Have a great weekend....
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!
Potentional Shark Pattern on HSI - Long 1 to 4 RRRLunch break ends in 1 minutes and market re-open, market should rally
Potential Bearish Butterfly Pattern at near 29000-29100Wait and see if it will go up to around 29000. Possible short position near the zone 29000 - 29100.
