20Feb25 ** Hong Kong's benchmark Hang Seng Index (HSI) declined 1.6%, dragged by a sharp correction in technology stocks.
HSI
20Feb25 -
(4H)
21Feb25
(4H)
⏰ ⏰ ⏰
Trade with cautious.
Since the goldencross formed week of 3Feb25 - the index had soared 908pts, +4.49%
The following week; week of 10Feb2025 - another +1486pts +7.04%
For the past two weeks the index had a small bull run of 2543pts; 12.7%
If history repeat, then HSI need a break after consecutive two weeks of climbing. If you see what I see.
The next strong resistance will be the last Oct2024 Hi at 23241. Let's see if today the volume and market sentiment able to break this then is likely to retrace back.
KDJ - The D chart - at overbought and red zone and now turning to red bearish zone.
Look at the 4H chart
HK50
Overnight the HK50 had touched and broke 23241 and retrace back.
Let's monitor if today there is chance for HSI to break the last Oct Hi.
MACD - above zero level - Bullish zone reversal from deadcross formed earlier and now with light red inverted histogram.
KDJ - Turned Bullish
BB - returning to upper BB channel
Today Trade Plan:
Buy into support : 22850 - 23000 (TP/SL at 22580)
Sell at resistance : 23250 - 23300 (TP/SL at 23200)
Look at the 1H chart.
Be cautious and pay attention. KDJ still ranging bearish zone although the MACD is within Bullish level but with light histo i.e low volume.
Monitor the 1H,4H movement with confirmation using MACD & KDJ indicator.
Set your tf, have your entry and exit plan!
Pay attention to the Goldencross/DeadCross; practice makes perfect.
Let's follow our own strategy and zen with 📙 and 🍵.
Happy Trading everyone!
Reminder : start to accumulate China & HKG for the potential upside for the year! Today retracement is a good entry point.
2800 
2823 2801 3067
** Please Boost 🚀/LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea!**
HSI 20Feb25 -
21Feb25
⏰ ⏰ ⏰
Trade with cautious.
Since the goldencross formed week of 3Feb25 - the index had soared 908pts, +4.49%
The following week; week of 10Feb2025 - another +1486pts +7.04%
For the past two weeks the index had a small bull run of 2543pts; 12.7%
If history repeat, then HSI need a break after consecutive two weeks of climbing. If you see what I see.
The next strong resistance will be the last Oct2024 Hi at 23241. Let's see if today the volume and market sentiment able to break this then is likely to retrace back.
KDJ - The D chart - at overbought and red zone and now turning to red bearish zone.
Look at the 4H chart
HK50 Overnight the HK50 had touched and broke 23241 and retrace back.
Let's monitor if today there is chance for HSI to break the last Oct Hi.
MACD - above zero level - Bullish zone reversal from deadcross formed earlier and now with light red inverted histogram.
KDJ - Turned Bullish
BB - returning to upper BB channel
Today Trade Plan:
Buy into support : 22850 - 23000 (TP/SL at 22580)
Sell at resistance : 23250 - 23300 (TP/SL at 23200)
Look at the 1H chart.
Be cautious and pay attention. KDJ still ranging bearish zone although the MACD is within Bullish level but with light histo i.e low volume.
Monitor the 1H,4H movement with confirmation using MACD & KDJ indicator.
Set your tf, have your entry and exit plan!
Pay attention to the Goldencross/DeadCross; practice makes perfect.
Let's follow our own strategy and zen with 📙 and 🍵.
Happy Trading everyone!
Reminder : start to accumulate China & HKG for the potential upside for the year! Today retracement is a good entry point.
2800 2823 2801 3067 ** Please Boost 🚀/LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea!**
Trade closed: target reached
Hi everyone, I had closed my position and TP, small gain and happy with it.Acrophobia for me and shall wait and see how the rest of the day the index moves.
sharing my view again next week.
Happy trading and have a good weekend.
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Related publications
Disclaimer
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.