HKG33 has been trading in a massive range between 24500 and 23500 since April, last week it failed to hold the lower range as support and broke the range to the downside with massive volume.
now it's back to the previous support zone which should act as resistant now. also atm its showing weakness at the resistance. it provides a good risk to reward and easy to manage trade to take.
now it's back to the previous support zone which should act as resistant now. also atm its showing weakness at the resistance. it provides a good risk to reward and easy to manage trade to take.
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it has been very choppy lol, got very close to the target but didn't hit it. there was a gap on futures around that level that got filled and bounced the price back up but it got rejected from the resistant zone again. I usually take some profit off when a trade goes in profit 2 times more than my initial stop loss level (moves 2R) so I took some profit at 22800 but I'm gonna keep the rest for my target to get hit, nothing to worry about yet. price has been choppy but there is not any sign of strength so I believe the target is gonna get hit.
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target got hitTrade closed: target reached
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+3R
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.