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000001 trade ideas

Spike in Yuan Spread: Prelude of what will happen to YuanSpike in Yuan Spread: Prelude of what will happen to Yuan Welcome back to WasabiChart! Hi Everybody~ This is Wasabi. I how you all enjoy a great weekend. Today, I am going to introduce a new indicator showing the spread of the two Yuan currencies, CNH and CNY, in percent and we can apply to the current market situation. The first chart is China Shanghai Index (SSE Composite) and the second one is USDCNH (Offshore Yuan). As you might know, the CNY has a long history of the Chinese Yuan currency, circulated only inside of the mainland China. As compare to this, there's another Yuan currency circulated and traded outside of the mainland China, which is called CNH, also known as the offshore Yuan currency. This CNH is currently being traded in multiple places such as Hong Kong, Singapore, London and Luxembourg. Due to the limitation of the access to the CNY by the foreign investors, there has been some degree of spreads in between. With the recent rise in the tension of the US-China trade war, the spread between the two Yuan currencies is heightened remarkably. The indicator line will be in red when it crosses above +0.25 % in the spread and in blue when under -0.25%. When he USDCNH and/or USDCNY crosses above 7, we will see them skyrocket to the moon. I hope you find it useful to assess where the Yuan currency is. Happy trading! Please subscribe and Like it! Thanks, WasabiChart
SSE:000001Long
by WasabiChart
SSE Double bottom / Bull div playSSE seems to be forming a double bottom at the 2470 support level; this in combination with the RSI and Momentum bull divergences and previous candle being a hammer candle makes me think we might be getting a relief rally to 0.786 fib level that corresponds to previous support. More conservative trade would be waiting for a break of the green dotted line that would confirm the double bottom and break the downtrend with a stop loss below the line.
INDEX:000001Long
by BystrickyK