CN50 H4 SHORT PRICE ACTION FORECASTCHINA A50 found rejection from a critical resistance level from the ascending channel. Price action making a tweezer top candle. MACD is showing diminished bullish momentum, together with a clear divergence for confluence on the bearish bias.
Price in consolidation.
The order:
Type: sell-stop.
S/L: 20 pips - R:R | 1:2 -
T/P: aiming to the next supply zone + ascending channel support
CN50USD
GET READY! China 50 in trouble - 2nd wave of virus! 😨😲You've been told! Get ready. There is trouble in this heading south more likely, than not!
Reliable sources in non-mainstream media are picking up the second wave of a virus outbreak in China. This is not fake news!
The re-opening (or partial re-opening) was actually fake news. Facilities were actually being built to accommodate more sick and dying people.
Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile, and you lose your money, kindly sue yourself.
Clearing 12612 resistance for CN50If this level is cleared, then we have a higher chance of seeing it closing the gap (see triangle) which has yet to be filled up.
Think about it , China in a way has to thank Covid-19 as after it has manage to contain the virus issue, it is now becoming the go to expert in terms of medical supplies. That brings jobs and opportunities to the people of China who are now resuming back to work and production are gearing up as well.
trade with caution.
2 sides of a coinAmong the 3 major China indices, HSI, SHCOMP and CN50, it is the latter that dropped the
most from its peak. It has fallen more than 10% from 14695 in mid Jan this year.
With the coronavirus that caused much uncertainty in the market, all indices globally, oil, stocks , etc have been impacted as well.
If you know how to short-sell , then you probably have made a handsome profits. For those who are late at buying a piece of China, then this is an opportunity to get in.
I will wait a while more as the virus news is still ongoing and people are fearful, driving bond prices up, gold price up and yen as well.
I have indicated two possible support level, 12618 and 12936 that I think it might revisit before a rebound. Of course, it might be worse than this, nobody knows.
Depending on what was your entry price, some of you may want to take profits and buy back at a later time.
Trade safely, always use a SL and employ risk and capital management .
Do you know your trading style ?According to psychologists in the 1920s, there are 3 different ways that people learn.
1)Visual: a visually-dominant learner absorbs and retains information better when it is presented in, for example, pictures, diagrams and charts .
2)Auditory: an auditory-dominant learner prefers listening to what is being presented. He or she responds best to voices , for example, in a lecture or group discussion. Hearing his own voice repeating something back to a tutor or trainer is also helpful.
3)Kinesthetic: a kinesthetic-dominant learner prefers a physical experience . She likes a "hands-on" approach and responds well to being able to touch or feel an object or learning
While we may have a combination of all 3 styles, there is one style that stands out, that dominates amongst the three. I classify myself more of a VK learner as I like to plot chart and prefer hands on approach (ie. live trading to gain the understanding).
I would classify Auditory as someone who prefers podcasts rather than videos as the latter consists of both visual and audio involved. So, if you like watching youtube channels on trading, ask yourself do you need to see what the author is showing you or are you comfortable just listening to the content .
When you understand your own style over time, you can better choose the right resources to back up your learning. Also, it helps you to better formulate your ideas to others as well.
Hope this is helpful.
Trade safely. GBU.
Flood Gate is Open NowThere are still some uncertainty over US - China trade agreement especially in intellectual property, technology transfer and the human rights issue in Hong Kong. These are challenges that would take a longer time to iron out but eventually some form of agreement would be reached, imo.
As seen on the 4H chart, price action is on a bullish trend with minor correction on the way. This would be opportunity for buyers who missed earlier.
1. It breaks out of 14099 resistance level and continue to charge higher.
2. It corrects towards the bullish trend line (green) and then rebound.
Note - if price breaks down the bullish trend line, buying ceases till we examine the price action further. Though this can possibly happen but I doubt the probability of it happening now.
20190911 Trade idea on China A50 (Update 20190930)Still looking to long....
Free sharing of trade ideas....
"FOLLOW" me to receive email notification when I publish new trade idea
"LIKE" this post to receive update on this thread
Don't forget to hit the like/follow button if you like this post ;)
That's the best way to support me
Disclaimer: This information is for entertainment only, it may be incorrect and should not be used for your investment decisions.... I just post things for fun based on what I've learned and that may be incorrect. Seek help from a REAL certified financial adviser (NOT who I am - I'm nobody) for your investment or trading decisions involving real money .
20190911 Trade idea on China A50 (Update 20190918)as shown... until trend line breaks
Previous China A50 analysis....
20190912 #2
20190911 #1
Don't forget to hit the like/follow button if you like this post ;)
That's the best way to support me
Disclaimer: This information is for entertainment only, it may be incorrect and should not be used for your investment decisions.... I just post things for fun based on what I've learned and that may be incorrect. Seek help from a REAL certified financial adviser (NOT who I am - I'm nobody) for your investment or trading decisions involving real money .
JD.com trading at a blatant valuation discount- LONGOne of the trends taking place in my portfolio is an increased weighting in China's technology sector.
Amid the trade-driven pessimism over China, clamp down on digital assets and increased control over online content China's economy is trading at a blatant valuation discount to the U.S.
Within the last few months the BAT stocks Baidu BIDU, Alibaba BABA and Tencent TCEHY have been among the biggest losers.
The recent arrest of JD CEO Richard Liu has caused JD stocks to tumble further relative to its e-commerce peers and is now almost 50% off its 52-week high. I view this as a risk-reward profile that is heavily tilted in favor of the bull.
All indicators explained on the graph.
CORRELATION STUDY BETWEEN CHINA 50 INDEX AND BTC/USDwe can see how the two markets are related simply by placing them on a single chart.
then we can try to determine what would be the most likely cause(s) for the evident correlation.
there is the common factor of the US dollar index both in terms of CHINA 50 given in terms of USD as well as in the base currency of BTC, the US Dollar.
F. Normandeau