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(HKG33) Hang Seng index of Hong Kong

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HK50 trade ideas

Hang Seng...The first waves of the next decline?Hello Traders, Hang Seng has achieved into the cited price area of 24395, the 0.618 Fibonacci of wave (a). Today's intraday high was @ 24603 and it is possible to count the move as a „five-up“. So the odds have increased that the countertrend that started on March 19 is complete. In this case, the next significant move is to the downside. A break of the wave iv low @23897 would strengthen this idea. A drop below the area of 22756, the possible wave (b) low, would be the next good hint that the next wave down has started. At the 30 minute chart, you will observe, that HS is declining to the lower boundary of the trend channel and a break below it, would be another good argument for the end of the advance. On the other hand. If HS will advance higher at the coming session, it would make a „five-up“ to „nine-up“ and it could advance to 25408, were waves (a)and (c) are equal. I will update the count if more evidence to one or the other side occurs! Have a great and safe week..... ruebennase Feel free to ask or comment. Trading this analysis is at your own risk!
TVC:HSI
by ruebennase
1
HANG SENG SHORT TRADE IDEACurrently price traded back to the important 24600.0 level where if we look to the left it has been retested as well violated many times, will only look for a short trade if i can see a high test candle closed below 24600.0 level. _________________________________________________________________________________________________________________________________________ Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together. Disclaimer the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. _________________________________________________________________________________________________________________________________________ Thank you for your support!
TVC:HSIShort
by LCFXpro
1
Hang Seng...More evidence needed!Hello Traders, Hang Seng achieved a 24262 level yesterday and shows weakness this day. It closed the latter two days below the 0.618 Fibonacci Extension of wave (a). The drop to 22756 was a wave (b) and the move to the upside may need one more down-up sequence to complete wave (c) of ((iv))! Overall the decline to fresh new lows is not done. Lower lows are still at forefront! If yesterdays high was all of wave (c) of ((iv)), a significant decline is next to occur. So, fresh new lows are what next to expect in the coming days and weeks. Any decline below the possible wave (b) low @ 22756 would greaten the odds, that the decline is underway. While it is possible that HS will move above yesterdays high (@ 24262), a target range could be around the 24395 area, which represents the 0.618 Extension of wave (a)! Any move to 25408 would alter the odds that a wave ((iv)) is underway, `cause it would be too large in terms of price. In this case @ 21126, a wave ((i)) was done and a wave ((ii)) is underway. A target range for this idea is around the 25408 area, where wave ((ii)) would retrace a 0.618 Fibonacci of wave ((i))! Note the alt labels below the graph. So, as before. Any drop below the wave (b) level @ 22756 would strengthen the odds, that a new wave of declining price with targets below the 21126 area is underway. Have a great and safe week.... ruebennase Feel free to ask or comment. Trading this analysis is at your own risk!
TVC:HSI
by ruebennase
Hang Seng...Sideways. Waiting for a breakout!Hello Traders, not much new to add for Hang Seng. The market is trading in a more or less sideways move and shows no clear odds to one or the other side. The move from the possible wave „4“ high is ranging within a trend channel and a breakout above the upper boundary and a move above the 23600 area would imply more potential to the upside. A possible target range should be at or around @ 24184.50, the wave (iv) high of one lesser degree. This would coincide with a 0.618 Fibonacci @ 24634.50. But it would be too large to be a wave „4“ and so the odds would increase in this case, that wave „5“ has ended @ 21139 on March 19 and a countertrend in a wave „2/B“ is underway. On the other hand. If more weakness has to come for HS and it would break into the gap-range of 22497.6-21696 from March 23-24 would strengthen the odds, that indeed wave „5“ is not done and instead HS has finished a wave „4“ on March 27! A break above the possible wave „42 high would alter this scenario. Have a great and safe weekend..... Best regards to all my followers and traders and their families around the globe. Stay healthy and safe! #Stayhome! ruebennase   Feel free to ask or comment.      Trading this analysis is at your own risk!  
TVC:HSI
by ruebennase
Hang Seng---All of the recovery?Hello Traders, today I`d like to show you, Hang Seng, on a short term basis. I have spotted the 20 min chart, `cause HS shows at this timeframe the clearest pattern to my view. Hopefully, all of you can follow this timeframe. If not, let me know, I will use a higher timeframe than. On Thursday 19, Hang Seng made a low @ 21139 and pushed to the upside. This move is to my view a „three-up, implies a countertrend attack that develops as an a-b-c-pattern. Wave ((c))of the pattern achieved to a 1.382 Extension of wave ((a)) and is showing a bit „weakness“ since then. Note, the similarity of the latter two chart patterns (highlighted with the two brown rectangles)! Both are exactly at the same length as the one before and shows the same internal structure. It could be, that HS has finished it`s countertrend at Friday @ 23791 and reversed to the downside or it needs some more up-down divisions to complete the structure. After, a decline to fresh new lows below 21139 should be next! But one more fact is to try using gap-analysis. I have, once again, highlighted the zone with the two gaps (purple rectangles) to the upside. Both are equal. If HS will achieve to the 23843.8 area, what plays the idea of one more up-down division perfect, than, if so to occur, HS is ready to decline to fresh new lows. If so to com? We `ll see. As you know, we have four types of gaps. The common-gap, which occurs most often during sideways markets, the Breakaway-gap, that tends to occur at the breakout of wave „3“, the Acceleration-gap, what occurs during at or near the midpoint of the move, and we have the Exhausting-gap, what finished the move. A close of this gap indicates, that the advance (in this case) is over! One more important fact is, that a countertrend within a wave „4“ occasionally rare retrace more than a 0.5 Fibonacci of wave „3“! So any move, and close above the 23963.9 would alter the chart count and makes a wave „4“ less probably. Have a safe and great weekend.... ruebennase Feel free to ask or comment.      Trading this analysis is at your own risk!
TVC:HSI
by ruebennase
Hang Seng...Countertrend! Wave 4 underway!Hello Traders, Hang Seng may make a bottom within a wave 3 of Minor degree @ 21709. the developing move is countertrend within a wave of the same degree. If so, a target range for HS could be around the wave (iv) high @ 23631 or a@ 23767, what is the 0.382 Fibonacci of the wave 3 decline. Another target area is around 24586 levels. Note at the lower graph how the Non-confirmation at STOCH played out well (in this case) and lead the way to a pullback. Once price will meet the cited target range, STOCH will be at or above overbought level and should show the start of the next wave decline. I have put the alternate count below the chart to show even another way of view. But this is to me an idea of lesser confidence. For the bearish view is nice to know, that there is an open gap by the trading of Mid-may in 2017 @19407. Gap often acts like a magnet! I will update the chart asap. Have a great weekend and stay healthy. Protect yourself from the Corona-virus! Best wishes.... ruebennase Feel free to ask or comment.      Trading this analysis is at your own risk!
TVC:HSI
by ruebennase