Many traders apply indicators for their analysis in their next trade. However, indicators formulate with historical price movement to tell us what is happening right now. It is not so much of telling us what is going to happen. The reason is simple, it is like economic policies, can manipulate the economy figure. But it doesn't tell us exactly the expectation...
Large C&H has formed since the break up and out of it's recent medium downtrend. Price is also above the 200SMA (Which explains the Green background) This means, an uptrend is confirmed, 7>21 >200SMA RSI >50 >75 Target 24,637 Bullish
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...
Cup 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...
HSI1! 2022 MAR 28 Week Continue to watch reaction at 22703. Weakness expected, market may test 20241. Do note that downtrend remains since trendline has yet to be broken and higher low has not yet formed. Weekly: Ultra High Volume very wide spread up bar rejecting lower prices, followed by average vol down bar closing off low, level with previous bar =...
HSI1! 2022 MAR 21 Week 18037 support returned strongly. Wait for reaction at 22703 as market returns to test previous breakdown and channel area. Weekly: Ultra High volume up bar closing on high = possible weakness Daily: Very high volume reversal followed by average volume up bar = strength H4: Market up on reducing bullish volume = weakness Entry...
HSI1! 2022 MAR 14 Week With the break of 21000, next level to test will be 18XXX region. Weekly: High volume down bar closing at low = weakness Daily: High volume down bar closing at low = weakness H4: Low vol down bar closing at low = weakness Entry will be based off the price reaction to levels Short on Test and Reject) | Long on Test and Accept Have...
HSI1! 2022 MAR 07 Week Lat week market broke 22389 support and headeed to 2000's high volume region. Should 21000 support be broken, it may see 18000 region Weekly: Ave vol down bar closing at low = weakness Daily: Ave vol down bar closing at low = weakness H4: Average vol down bar closing off low = some demand Entry will be based off the price reaction to...
HSI1! 2022 FEB 28 Week Short preference last week proved very fruitful. The spring over the last daily bar shows rejection of lower prices and demand overcoming supply (D/S). Scenarios: 1) Long on dip opportunity in the 22389-23000 region as temporary strength returns 2) Should Support 22389 fail, short opportunity on test of break down area to next...
HSI1! 2022 FEB 21 Week Again at 24140 support if this is a formation of a new zone 25244 - 23304, would exoect market to test 23304 As such preference will be to short on retracement, and also at the failure of 24140 support. Weekly: Average volume down bar closing at low (also appearing like reversal bars) = weakness Daily: Average volume down bar closing...
HSI1! 2022 FEB 14 Week Market tested again previous supply area. - No higher high was made - No commitment as market nears recent high. Temporary weakness expected for long opportunity on retracement. Weekly: Average volume up bar closing off high = weakness Daily: Average volume down bar closing on low = weakness H4: Temporary weakness Entry will be...
HSI1! 2022 FEB 07 Week Temporary weakness expected as market is resisted at 24600. Preference is to long on retracement. Weekly: Very Low Volume up bar closing near high = weakness Daily: Very low volume up bar closing near high = weakness H4: Temporary weakness Entry will be based off the price reaction to these levels Short on Test and Reject) | Long...
HSI1! 2022 JAN 24 Week Last week scenario2 played out as price pull back below 24391 to test supply before uptrend continuation. Market may return to test breakout area Long on pullback preferred. Weekly: Average volume Up bar closing off high = Weakness Daily: Average volume Upthrust bar = weakness. H4: Price came down on reduced volume = No supply Entry...
HSI1! 2022 JAN 17 Week Last week scenario 1 played out - HS exited trend line, breakout was tested and now price is at a previous supply zone. (24391 and HTF brown dashed trend line) Possible scenarios are mapped out 1) Break of 24391 and resistance becomes support 2) Pullback below 24391 to test for supply before continuing on the uptrend 3) Do note the...
HSI1! 2022 JAN 10 Week If breakout of 23695 and is supported, this may signify change in trend. Possibility of demand returning as price has been peeling away from the lower trend line (black). Fresh trend line (brown) scenarios will be 1) bounce from trend line and breaking upward and supported by 23695 could lead to change in trend. 2) Oversold and market...
HKEX:HSI1! HSI1! 2021 Dec 06 Week Trade remains guided by trendline. Market trading in a 500pt rotation, will it be accumulation or a pause? If long, wait for price to come down on low volume and find support. If market rotates, stay out If market breaks resistance and turns support = long If market breaks resistance and closes below it, will short when...
HSI1! 2021 Nov 29 Week This week's trade plan will still be guided by the trendline. If long, wait for price to come down on low volume and find support. If market rotates, stay out If market breaks resistance and turns support = long If market breaks resistance and closes below it, will short when resisted. Weekly: Average volume down bar closing near low...
HSI1! 2021 Nov 22 Week Market again tested 247XX. It was not ready to go up . Trade will be guided by the trend line and will only long if market exits trend line and is supported. If long, wait for price to come down on low volume and find support. If market rotates, stay out If market breaks resistance and turns support = long If market breaks resistance...