Too early to arrive at the party! Sharing my trading idea and experience for FX:HKG33
From previous post, the 1H chart has been bullish.
I have taken the profit and thereafter trying to find re-entry position.
However, without checking the shorter time frame 30m, 15m it turns bearish for the shorter time frame. Re-entered at 22500. As you can see from the chart. It's is a big Ouchhh! 😂
Well, was looking at the longer time frame of 4H chart & D chart showing the index continues to be bullish. (Question to myself: But on hindsight - isn't the longer tf chart based from the shorter tf movement?) Hmmmm.....well let's see.
But this could cause the short position opportunities. Nonetheless, the party is there and I guess just have to wait little longer and hope it won't be too longer. This is going to eat into trading cost for the daily finance charge. :)
Wish the party continue! (with the recent stimulus news and action)
While waiting, let's zen with 📖 🍵
Good luck everyone!
HK50 trade ideas
Hang Seng topped, next buy zonesHang Seng has topped, after an incredible move-up. These are the next two target zones to buy the dip.
Narrow Escape! Trust what you trust.FX:HKG33
Entered too early before the pullback. Has to hold over the trading closed day. Was intended to SL the positions if the downtrend continue.
However, the market reopen with strong bullish volume. The short time frame (tf) turned uptrend and the index gap-up. However, the MACD + KDJ showing uptrend for 1H chart. Hence, decided to continued to hold the position.
∴ Continue bullish for HSI based on W chart and try to look at Long position for 1-3 weeks tf.
This ain't a get-rich-quick scheme, folks. We're just here to chat, not make deals.
Disclaimer: The information provided here is not a recommendation to buy or sell any particular financial instrument. Individual circumstances and risk tolerance should be considered when making investment choices."
Is a Hang Seng Revival on the Horizon?The Hong Kong Index has faced challenging years since reaching its all-time high in 2018.
The downtrend accelerated in 2021, bringing the index to a low of around 15,000.
The subsequent reversal aligned neatly with horizontal resistance and the 50% Fibonacci retracement level, indicating that the bears were not finished yet.
Indeed, 2023 also saw a continued downtrend.
However, and this is crucial, the index did not make a new low. Instead, the decline halted at the strong 15,000 support level.
In early 2024, a significant break above the falling trend line was observed at the end of April. The correction that followed confirmed the broken trend line, suggesting that this breakout is genuine and indicates a long-term shift in trend.
September began with a higher low, followed by a powerful surge above the 20,000 level for the first time in over a year.
This sequence of events suggests the potential beginning of a long-term bull trend, with the possibility of the index reclaiming the 23,000 level by 2025.
For those looking to initiate a long-term buy position, there are two key levels to watch: 19,500, the former resistance level, and 18,500, which now serves as strong support.
HK50 short ideas (short-term)HK has had a strong rebound. I hope traders are enjoying the profit or dividend payouts. However, the November month usually comes with bare movements (check the last 2-3 years). A retracement is also needed from the long downtrend breakout. Wait for your retracement confluences to enter.
I suggest you take partial profit and add a sell position @22 600 and TP @20 190. I am expecting setup 1 but setup 2 is also probable.
Remember to not over leverage your open positions and practice good risk management on this.
Brothers, I am here again. Did the Hang Seng Index catch the thiThe Hang Seng Index’s daily chart level wave count: The Hang Seng Index’s daily chart level is currently white and the third wave is mainly rising. I have said this very early. I have posted my views several times before. Ten days ago, the blue third wave rose sharply after the last release. The current position may face a correction. After the correction, it is still a buying opportunity.
HSI neutral or short: reached important price pointI have mentioned before that 22,788 is somehow an important price point for Hang Seng in my previous analysis of this index (not in tradingview, see check my profile for other source). Re-iterating:
1. it is the support and resistance for many points historically.
2. it is around the Fibonacci extension level of 2 separate wave extensions (see purple and green Fibo).
Be safe. Keep your risk tight.
China is back!China is back and back with a bang!
It has posted its best week since 2008 with a gain of over 15.7%
Go Bejing!
Hang Seng - resistance reached I believe the Hang Seng has now reached local resistance and all the late comers trying to long Chinese equities now will get caught out.
I have closed out of most of my Chinese positions. I went long on the breakout of the descending parallel channel. Now that we have reached the golden pocket, I’m playing it cautiously. Profit has been locked and I’m using trailing stop loss on the remaining positions.
I fully expect us to take out the low one last time. Don’t ask me when, I don’t have a crystal ball. But I was one of the very few who went long months back. Now it’s time to derisk.
Not financial advice, do what’s best for you.
Hang Seng skyrockets on news and rumours of stimulusProperty and technology companies showed some of the strongest reactions to this week’s news, up on average 7% and 7.3% respectively. Forecasts for most major Chinese tech companies are broadly optimistic and analysts had recently noted the disconnect between these and the actual prices of various shares.
As for USDCNH, there’s clear saturation here from Bollinger Bands and the slow stochastic and the price has reached a new extreme, so immediate continuation is questionable. 20,000 seems to have been broken clearly for now, but the 61.8% weekly Fibonacci retracement just below this might make it an important short-term support if there’s a retracement.
22,800 – January 2023’s high – seems like an extremely aggressive target. It’d be unlikely to see the price continue its recent momentum to reach there immediately but it’s possible over the next few weeks or months depending on earnings and, crucially, confirmed details of further stimulus.
This is my personal opinion which does not represent the opinion of Exness. This is not a recommendation to trade.
CHINA GOING FOR IT! Until Christmas? #BlowoffTop and Recession!Breakout and retest for RSI, China breakingout after 6 long years.
This will have implications on every market, they were waiting for the FED to pull the trigger and now they can go. Game on!
#JD is going, Commoditties will go for it, except #oil maybe.
But more important, #Bitcoin will have the #BLOWOFFTOP I was looking for.
That´s the News GOODS...
The BAD News is, Recession or Crisis after it. December or March 25´as late.
Shares of Chinese Companies SurgeShares of Chinese Companies Surge
As evidenced by today’s Hang Seng chart (Hong Kong 50 on FXOpen), this stock index has risen to a yearly high.
Bullish sentiment in the market is bolstered by promises from China's top leadership, including President Xi Jinping, to achieve the growth target for 2024 and to halt the decline in the real estate market.
Bloomberg News reported that China is considering injecting up to 1 trillion yuan of capital into its largest state lenders to enhance their capacity to support the recovery of the Chinese economy. This proposal is part of broader stimulus measures launched by the People’s Bank of China earlier this week.
Technical analysis of the Hang Seng index chart (Hong Kong 50 on FXOpen) indicates that the price is making a significant upward reversal:
→ This month, the price broke above the trendline (marked in red), which dates back to 2021.
→ Evaluating the angles of decline (indicated by grey arrows), it is evident that the rate of downward impulses has been consistently slowing over time, indicating exhaustion of selling pressure.
→ Price action in 2024 provides grounds to construct an upward channel (shown in blue). It’s possible that the upper boundary could be reached by the end of the year.
Let’s remember that we established a long-term upward channel in January of this year, and today’s price action on the Hang Seng (Hong Kong 50 on FXOpen) confirms its relevance.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
China Optimism FadeFundamentals
Hang Seng
- Broad economic data remains bleak
- HK market isn't so strictly regulated like the mainland one, so it can more likely be let falling
- Risks: Loosening the real estate regulations in big cities, Alibaba case resolve.
USD
- Risks: Fed's 0.5 cut prompts risk assets higher
Technical & Other
Setup: TR(RTF)
Setup timeframe: 4h
Trigger: 1h
Medium-term: Sideways
Long-term: Sideways
Min target: DMA(10)
Risk: 1.08%
Analysis on HSI: Wait For the OpportunityDear All
the chart is clearly prepared itself for the big uptrend.
now it just wait the pullback and selling pressure to die out.
overall, i think the only strategy you should look for
is trying to find the long entries from HSI.
Best Regards,
TraderPP
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HK50 gave back all of its gains over the past month
BYD and Li Auto dropped by 5.57% and 7.29%, respectively, exerting a decisive impact on the decline of HK50. Despite BYD's reporting of favorable 2Q earnings with a 26% increase in sales, the results fell below expectations. Meanwhile, Li Auto's 2Q performance was down 45% YoY, while sales increased by 10%. However, the 5.6% decline in electric vehicle deliveries in Aug compared to the previous month raised concerns about the Chinese EV market. With growing export tensions, the outlook for Chinese EV manufacturers will likely worsen in 2024, further amplifying the negative sentiment toward the index.
HK50 gave up all the two-week gains and closed at around 17150. The index still holds above the descending channel's upper bound but slid below both EMAs, sending apparent bearish signals. If HK50 fails to hold above both EMAs and breaks the 16700 support, the index may reenter the descending channel and fall further to the 15850 support. Conversely, if HK50 climbs above both EMAs and extends its uptrend to the short-term high at 18200, the index could gain upward momentum to the resistance at 18600.
HSI Bounce Alert!A powerful confluence of technical levels has formed on the Hang Seng Index (HSI), setting the stage for a potential rebound:
- 2024 Yearly Open Support
- 618 Fibonacci Retracement
- Channel Breakout Retest
Will the HSI capitalize on this triple threat of support and bounce back? Share your insights!
HK50 LongTriple bottom on M15, M30 and H1
There is divergence
With the H4 trend
There is no pattern so it is a bit dangerous
100 pip stop loss
HSI Short: Wave 3 and Update on the sub countsBase on my counts, HSI should be going down on a wave 3. If I am not wrong, it should break down from the upward channel.
HK50 - In Bullish TrendHK50 index in bullish trend with no divergence on 1H time frame. The trend is making HHs and HLs with beautiful trend line.
The Signal is:
EP: 17907
SL: 17597
TP: 18217
