HK50 trade ideas
Reach the top of the ascending channelAfter the breakthrough on two weeks before, HSI is heading to the top of the ascending channel, it doesn’t mean try to short, like, just short call to make a cover call strategy or wait for some pull back for a long chance
HK50 TO GO UP!Don't see any reason to not go up as the markets look solid!
This is not financial advice.
Hang Seng Index Pullback?HSI comes to 28500 and it attacked very sharp from last week of 2020, is it pullback now or go directly to 29K?
Honk Kong 33 Ascending Channel - Short PositionHonk Kong 33 Short Order
Entry: 28,267.8
TP & RR: 27,881.1 (1.5)
Stop Loss: 28,525.9
REASONS FOR THE TRADE
I hate to open a position against the trend, but I believe that the price will respect the upper trendline and reverse to test the lower trendline. The Stop Loss is set just above major resistance, so if we do get hit it's very likely that the price will continue trending up.
The Market Flow indicator is not giving me a signal yet, still showing some strength, so if the trade setup is correct then it should start reverting soon.
Hang Seng. Major Gartley completing shortly.ly.Hang Seng has a major Gartley pattern going back 3 years nearing completion.
I will be watching this over the next week as Time and Price are lining up as well. This is generally a good signal and has all the ingredients of a major top.
We also have a smaller ABCD completing in the same area.
Definitely one to watch over the coming days.
HSI has seen Stochastics resistance, near-term correction! HSI has seen Stochastics resistance, near-term correction is possible to our graphical pullback support and the 50% fib retracement.
Hang Seng....Moving higher.....Hello Traders,
Hang Seng is on the way to raise within a wave c/y to 28705. The Mob (make or break) level for this idea is at 25998, the wave ((iv)) low on December 22!
Note that the index could have ended a complete impulsive pattern by making anew high above the wave ((iii)) high at 26782.
To me the move looks more like wave 3 of 3, with a wave iv and v to come and complete the structure!
An extension of the 28705.72 area should lead to 29297.21 area. But first we wait for the 28705 level, as long as the wave ((iv)) low is valid!
I will update the count in the coming days.
Have a great time....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Short HK33HKDHK33HKD is on a downtrend channel and the recent bull rally is hitting the top of the channel.
The sell opportunity should be setup soon before Chinese New Year.
HKD analysis 31/12/2031/12/20
Price is expected to relief and we can expect exhaustion before another push up. Price is at/near monthly resistance so buys are short term of higher risk.
Shorts can only be taken if we have a daily break as directed and a nice valid continuation pattern.
Have a great New years everyone!
Sunny
HANGSENG 26122020not much movement for this week.
but we can see supported by 26k
overall is in sideways. but more on bullish bias
support 26k , 26,250
resistance 26.6k , 27k
Hang Seng.....On the path!Hello Traders,
Hang Seng has declined into my cited target rang from 26200-25848. Today the index closed trading at 26119.26. The decline does not look complete, so my goals remains unchanged!
At 25484 the 0.382 Fibo of the advance from 23124-27040. So, it could be a good Fibonacci-target.
Note the open gap at 25712.98-26157.77, in which HS has diving in. It could be possible, that this gap will be closed completely.
It needs a push above 26668 (blue arrow) to alter this view.
I wish all of my readers and their families a merry and healthy Christmas.
Have a great time....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Hang Seng.....Open target @25848!Hello Traders,
Hang Seng has touched the lower boundary of the channel and bounced to the upside (@ 26668) and pulled back again. The overall development from the high @ 27040 does not look complete and my mentioned target (@25484 is still valid!
In this case, the odds would favor a wave ((iv)) and after impulse within a weave 5, that develop as a 1-2-3-4-5 would be next.
Any break of the wave ((i)) high @ 24970would alter the count, `cause wave ((iv)) would break into the territory of wave ((i)).
Keep in mind, that every 1-2-3 could be a wave a-b-c (w-x-y)!
Have a great Sunday.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
HANGSENG 19122020NEUTRAL.. SIDEWAYS
SUPPORT 26,250 , 26K
RESISTANCE 26.6K , 26.8K , 27K
PENDING FOR BREAKOUT
HANGSENG 12122020HSI weeky closed bearish.
but still supported by 26,250
break below 26,250 will visit 26k
Bullish structure still there.
seeing potential bounce
immediate resistance 26.6k
Hang Seng.....Bear flag in progress!Hello Traders,
HS is moving in a sideways consolidation and is embedded in a bearish flag. This move hasn't touched the 0.382 Fibo of the latter advance and is the minimum target I'd like to see for the end of the flag!
So it could be that HS is „gambling“ around the 26782 level and moving in the trend channel (green lines) for some days.
Any break of the 27040 level would imply that a wave (iii) of ((iii) has started and would be a strong advance to higher levels around the 29-30K area!
A break of the lower boundary of the channel give more potential for weakness development in the coming week (possibly) and could range from 26200-25848 level.
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
