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Hongkongstocks

Honk Kong 33 Ascending Channel - Short PositionHonk Kong 33 Short Order Entry: 28,267.8 TP & RR: 27,881.1 (1.5) Stop Loss: 28,525.9 REASONS FOR THE TRADE I hate to open a position against the trend, but I believe that the price will respect the upper trendline and reverse to test the lower trendline. The Stop Loss is set just above major resistance, so if we do get hit it's very likely that the price will continue trending up. The Market Flow indicator is not giving me a signal yet, still showing some strength, so if the trade setup is correct then it should start reverting soon.
OANDA:HK33HKDShort
by Quant_
HONG KONG UNDER RESISTANCE AND LOOKS BEARISHHello Traders, Hong Kong is going through some troubling times right now. To summarize very briefly, Hong Kong has been its own entity for some time with its own legal systems, boarders and rights but due to legal agreements China wants to take back Hong Kong as part of China. This is a crude summary of events. This is causing friction between Hong Kong and China and there have been violent protests for several months over the current situation. Hong Kong property market is also one of the most expensive in the world. Due to the current climate of uncertainty and looking at the chart of the Hong Kong top 50, it looks very bearish to me. Price has dropped out of a large descending triangle, that H+S dumping price to below the major support/resistance level. Price looks like its trying to break resistance but I think with whats going on right now it wont. Quite simply if the price breaks resistance, holds resistance and moves up then that will make my bearish stance invalid. But because I am bearish I am looking for weakness here. Repeated failures at resistance means the price will be going lower.
FOREXCOM:HK50Short
by WickHunter
Hang Seng: Symmetrical Golden/ Death Cross. Long term Buy SignalHang Seng has been devastated by the recent negative geopolitical climate, reaching in August the 24,900 1W Support. The rebound that followed on 1D was rejected near the Lower High trend line (dashed) and 1D MA200 (orange line) thus keeping 1W bearish (RSI = 43.695, MACD = -309.550, Highs/Lows = -317.3100). We have had a Death Cross formation on that bottom and interestingly enough it is symmetrical with the Golden Cross in March. Since we already tested the 1W Support there are more probabilities now to resume the uptrend and reach at least the 0.618 Fibonacci retracement level (currently at 28,200) like Hang Seng did on its 2019 top. Anything above that will be bullish towards at least 30,200 (2019 High). If however by any chance the index dip again to the 1W Support (the 2018 bottom was at 24,500) then that would be an even stronger long term buy signal towards the 33,500 ATH. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:HSILong
by InvestingScope