Hang Seng: Just do it 💪The chinese Index isn't kidding around when it comes to fulfilling those New Year's resolutions and is using all its power to climb all the way North. We're expecting the Hang Seng to rise further into the turquoise target zone to complete the red wave (3). After completion, the course should fall back into a correction in order to finish the red wave (3). In case the Hang Seng can't carry on with its recent upwards pulses, we're expecting it to drop below the support line at 18 917 points. This would indicate the activation of our alternative scenario with a chance of 27%.
Hangsengindex
C stands for China - updateHang Seng index had a perfect backtest of monthy trendline, I think it's a short here and if you look at the news, the fundamental reasons are there as well.
Common targets for the C wave would be equal to the previous A wave (around 12k) or, if things get really ugly 1.272 of A - which would be around 6500. Both areas have strong horizontal support. The Monthly BB was the area for the recent bounce (not shown), but the Monthly Slow Stochastic will likely close with an embedded bearish reading.
Looking For Some China PullbacksWhen it comes to China I like to watch the Hang Seng Index. That index remains in a bullish bias complexion with resistance levels at 19,706.90 and 19,983.24. Downside potential areas are 19,483.56, 19.260.22. China has been experiencing self-government policies, of which, are dictating their markets significantly. All-in-all, I do not correlate the two as relevant to overall market strength, sentiment, or complexion to the NYSE.
Hang Seng Cup and Handle upside to comeCup and Handle has formed on Daily with Hang Seng.
The breakout was strong, and if we weren't in, we'd wait for a bit of a pull back for a consecutive entry level.
7>21 < 200 Moving Average which gives it a Bullish bias.
With the Covid restrictions lifting slowly and things finally showing a recovery to come for the economy, this could be the helpful catalyst for upside for the index.
Hong Kong Stock Index (The rebound is in the making)Hong Kong Stock Index (14 Nov 2022)
HK index is in the pull back phase and I reckon it shall continue for quite some time.
18,000 is a good strong resistant but the pull back down shall be mild.
The nearest strong support is 16,000 and it shall go higher and higher again.
19,000~20,000 will be the strong resistant region. Then, we will talk about what's next.
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HangSeng waiting to “boom” = Bright future HongKong. 6/Nov/22Hong Kong’s Hang Seng Index have backed to “square one”?.. As its price slightly below its 25 years level ( 2020 - 1997 ).. BUT chart tell me different stories as I trade what I see “first” then what I think “second”.. where my “thinking” possible have bias and prejudice. You probably see lot of “doom” comments from western media or “westerner educated” Chinese’s “expert “ themselves...
Hang Seng: Falling for FallThe Hang Seng Index has been going through a constant change of ups and downs. Going into November, we are expecting the index to drop down to ideally 13 715 points and make its way up again. As long as it stays within the green area between 14 451 and 13 119 points, chances are high of the HSI going up to 18 772 by the end of this fall.
$HSI Hang Seng Index Can Rise Up - Inside and FCP Zone NowTraders, I have been covering indices in depth latetly and what I see a common pattern is that US Indices has started to bounce back. US3 has been gaining for last 3 weeks or so, SnP500 is lower but gaining and NASDAQ is the only one which gained slowest. Hang Send Index (HSI) has reached 2008 levels but forming an M pattern. It is now inside an FCP zone which can push it upwards. Now think about the consequences of that.
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Hang Seng Index - When will it bounce?Over the weekend, a lot of synchrony and less optimistic outlook was posted.
So, here we take the opposing view and look for when the Hang Seng Index might bounce off what it finds as a bottom.
From the weekly chart, it is very clear that the HSI has had two consecutive hard years, since 2021. An early January rally fizzled out and downdrafts take over for the rest of the year. This end of 2022 however, appears to hold a rather oversold HSI, and with the TD Sequential almost ending, it might be worth to look at possible TD Flips and then a good effort to bounce.
While the TD Sequential buy Setup is almost complete, the index is now also far out of the 3.5 SD on the Bollinger Bands. Like an overstretched rubber band, this appears deeply oversold. MACD is not yet letting up so there is some downside to dowside consolidation to occur before a bounce can be mounted. Upon re-entry within the 3.5SD band, that is where a TD Flip and a bounce might occur.
This is projected to be about 15,500-16,000; about another 1000 points from where it is today.
Any close below the red support line means that the bull case rebound is further extended, and may need a relook. Otherwise, a spike down and then a consolidation might happen, with a break above the resistance line (green) to indicate an about turn from bear trend to bull trend. This event should take place about mid-November up to Decemnber. By then, there should be enough follow through...
Watch for these first:
1. TD Seq Setup completion and perfected, with a following TD Flip;
2. A re-entry into <3.5 SD of the BB band;
3. a set of higher lows and once broken the resistance line; and
4. MACD crossover on the Signal line, and then above zero.
Wait for it...
PS. Note the green ellipses that go back to 2016. These are times of downtrend that see a reversal from the bottom.
Hong Kong Hang Seng Index at 30-year supportThe Hang Seng absolutely melt down on Monday, most people explained the selloff as the disappointment in Xi and his royalists taking complete control of the CCP, or the market is disappointed because there is no lifting of COVID restrictions after the 20th party congress....IMO, both of these are or should be well expected, the people's daily actually published the importance of COVID zero for like 3 days in a row ahead of the 20th party congress....anyway
If we zoom out, we can see the HSI is at a historical upward trend line support, and below it at the moment (this is a monthly chart). Valuation does not make sense, because the Index is trading at 0.6 PB, and each time the index traded below 1 in history, it resulted in significant return over the next 2 years (and I believe the PB never went below 0.9). However, the index now has more tech companies in it and the price to book is inflated a bit?
However, given how oversold and undervalue the index is, this looks more like a final capitulation than a "start" of another round of bear market. If we just simplify things, if the index level climb back up above this 30-year trend line, there is a high chance that the bottom is in like previous bear markets circled in red (given no new black swan event happen to the world). Volume also picks up significantly today (not available on tradingview somehow), consistent with typical capitulation at market bottom where everyone loses hope and just give up and shut down their computers...
meanwhile, theres energy crisis, war, inflation and protests going on in Europe, but European equities are up as much as 2% today and US futures up 0.5-0.8% pre market, no one cares about China selling off...interesting divergence...
TENCENT | Wave projection - Bullish Divergence Possible Rebound?Price action and chart pattern trading: a possible rebound scenario
> Elliott Wave projection - falling zigzag ABC correction wave channel now at C-wave 0.786 extension of A-wave at the key level support.
> Downtrend target reversal position of the major top HEAD & SHOULDERS with double bullish divergence signal
> Target rebound > SMMA 50 key upper resistance POC
Time To Keep An Eye on ADRsWith China opening up and realizing a zero Covid policy doesn't work we should begin to see the country get itself back on track. In addition, China will be buying millions of barrels from Russia, soon.
I've attached my levels on the Hang Seng Index. Keep an eye on those ADRs BABA, JD, NIIO, etc.
Hang Seng Index - Off the cliff...No good news at all as the HSI drove off the cliff...
The weekly chart shows that two weeks ago, the support was broken, and all technical indicators are bearish.
The Fibonacci projections put the downside target at 14,600. A very substantial downside burn.
Only green shoot observed is a possible bullish divergence forming...
The daily chart shows the accentuated off the cliff type of slide down. It is a little dramatic and should be looking for some consolidation around the 16500 level.
Hang Seng Index - initiating analysis coverageFor personal interests, analyses on the HSI will be initiated...
The weekly chart closed on a bearish note, at a 5 year low. Close to a suuport at 19,200, if it breaks down -250 points, there would be more downside to the last low of March 2022, at 18,235.
As with many of the analyses done this weekend, a lot of indications that the last low will be revistied.
The daily chart has a breakdown over he last week, and daily technicals are crossing under. These are indicative of more downward momentum.
Overall, bearish aura prevails for the Hang Seng Index.
Belt STILL rejected HSI!Last week HKEX:HSI1! rallied to 20300 previous week low volume area then got sold off towards 19450-ish, previous daily excess, where seller couldn't find traction. Buyers stepped in and ended OTFD and created three sessions of OTFU into 20300-ish and again got rejected, which left weekly OTFD continued.
Looking ahead, with the Belt, aka @spacemanbtc creation, getting lower, I expect STFR mode still in play, unless the low volume area is taken out.
Bullish case: IMO, buyers in control as long as the area holds, then claim and gain acceptance within 266-355, targets 585
Bearish case: breaking down 4/8 low would trigger weakness, and overall it's simple, keep price under 356 and break 19456, to maintain weekly OTFD, target 19216/063/18879/576
Master Belt dislike $HSIThe belt created by @spacemanbtc rejected $HSI breakout and created weekly OTFD. From the perspective of market profiles, weekly imbalance indicates bearish sentiments among traders and further downtrend expected.
Theme: STFR
Bulls target: reclaim 20633 and tackles above 20985, but note that top belt is leaning lower
Bears target: stay below the single prints around 20300, take out and weekly close under the weak low
HSI 25/7-29/7 weekly planHKEX:HSI1!
Failure to take out previous VAH led to sell-off down to level near the single prints created on Monday.
Week ahead, pivot would be 20868
Since the huge excess 21192-21600 has not been untested, the sentiment for upcoming week favours bears and remains sell-the-rally mode until aggressive buyers take out that excess, which I doubt. FOMC may be the catalyst.
20626-20560 would be a significant area for buyers to defend, or found a bottom.
Yellow area under 20626-20560 is definitely an area that likely to see responsive buyers jump in, which is necessary for bulls to reverse downtrend. If bulls buy this dip, they need to establish acceptance above that LVN around 20500 for continuation. If bulls fail, the previous week excess will be next support.
Indicators: www.tradingview.com
Jamie Gun2Head - Selling HK50Trade Idea: Selling Hang Seng
Reasoning: 50% fib sell on Hang Seng
Entry Level: 21082
Take Profit Level: 20597
Stop Loss: 21195
Risk/Reward: 4.29:1
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