Hang Seng HSI
HSI approaching resistance, potential drop!HSI is approaching our first resistance at 27915.4 (horizontal swing high resistance, 38.2% Fibonacci retracement , 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 24095.7 (horizontal pullback support, 100% Fibonacci extension , 61.8% Fibonacci retracement ) .
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
HSI approaching resistance, potential drop!HSI is approaching our first resistance at 27915.4 (horizontal swing high resistance, 38.2% Fibonacci retracement, 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 24095.7 (horizontal pullback support, 100% Fibonacci extension , 61.8% Fibonacci retracement) .
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
HSI review in 2018 and the prospect in 2019In bearish market, starting from Q2 of 2018, the Hang Seng Index (HSI) enters bearish market. According to EW Theory, bearish waves either move in 5 or 3 smaller waves. Waves are impulsive if they move in 5, or corrective if they move in 3. In 5, we will denote the waves in 1-5, while ABC are used for corrective waves. I am betting the HSI will have 5 waves to go since the prices have been edged down past 250 MA which is one of the indicators showing it's a bearish market.
HSI appraoching resistance, potential drop!HSI is approaching our first resistance at 27358.5 (100%, 61.8% fibonacci extension , 38.2% fibonacci retracement , horizontal swing high resistance) where a strong drop might occur below this level pushing price down to our major support at 26079.8 (horizontal pullback support, 50% fibonacci retracement ).
Stochastic (89,5,3) is also approaching resistance and seeing a bearish divergence where we might see a corresonding drop in price.
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 27249 (78.6%, 38.2% fibonacci retracement, 100% fibonacci extension, horizontal swing high resistance) and a strong drop might occur below this level pushing price down to our major support at 25883 (61.8% fibonacci retracement, 61.8% fibonacci extension).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 27358.5 (100%, 61.8% Fiboancci extension, 38.2% Fibonacci retracement, Horizontal swing high resistance) where a strong drop might occur below this level pushing price down to our major support at 26147.1 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Hang Seng - Looks like US MarketsNot financial advise. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk.
This is textbook corrective bear market action. I can't see this any clearer than it's painted out for us. Here's the low down on HSI on the daily chart:
1. Death Cross on July 16 2018
2. Perfect bearish impulse to complete wave 3 at about 24500. That's taking the trend based fib extension from the high at ~33500 to the pivot low at ~29120 and returning to the end of the corrective 2 at ~31500. The 1.618 extension was at 24475 and the low hit 24540.
3. We are now in a wedge formation as you can see the ABCDE is about 50% complete.
Now, what does this mean? According to my calculation, HSI has approximately 2 to 3 months in this trading range. Likely a 10% loss will occur over the next month, followed by a 10% gain to get us to E and then we will start wave 5. I'm expecting (assuming the wedge plays out) HSI to fully correct down to the 2.618 (or the 618 extension of the wave 3) to about 20200 for a roughly 25% loss.
A lot can happen over the next 2-3 months. I'll keep this chart updated over time. Trade safely friends.
HSI appraoching resistance, potential drop!HSI is approaching our first resistance at 27358.5 (100%, 61.8% fibonacci extension , 38.2% fibonacci retracement , horizontal swing high resistance) where a strong drop might occur below this level pushing price down to our major support at 26079.8 (horizontal pullback support, 50% fibonacci retracement ).
Stochastic (89,5,3) is also approaching resistance and seeing a bearish divergence where we might see a corresonding drop in price.
HSI - Daily Key ElementsKey levels to look out for when analysing HSI, please refer to H4 chart for a strategic view!
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 27358.5 (100%, 61.8% fibonacci extension, 38.2% fibonacci retracement, horizontal swing high resistance) where a strong drop might occur below this level pushing price down to our major support at 26079.8 (horizontal pullback support, 50% fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresonding drop in price.
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 26587 (61.8% fibonacci extension, 76.4% fibonaccci retracement, horizontal swing high resistance) and a strong drop might occur below this level pushing price down to our major support at 25541 (61.8% fibonacci retracement, 61.8% fibonacci extensison).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 26587 (61.8% fibonacci extension, 76.4% fibonaccci retracement, horizontal swing high resistance) and a strong drop might occur below this level pushing price down to our major support at 25541 (61.8% fibonacci retracement, 61.8% fibonacci extensison).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
HSI approaching support, potential bounce! HSI is approaching our first support at 25147 (76.4% fibonacci retracement, 61.8% fibonacci extension, horizontal swing low support) and a strong bounce might occur above this level pushing price up to our major resistance at 26176 (horizontal swing high resistance , 61.8% fibonacci retracement).
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
HSI Bounced Off Support, Potential For A Further Rise!Hang Seng Index bounced off our first support at 25432 (horizontal swing low support, 61.8% Fibonacci extension , 78.6%, 61.8% fibonacci retracement , horizontal swing low support) where a further rise could occur above this level pushing price up to our major resistance at 26320 (100% fibonacci extension , 50% fibonacci retracement, horizontal swing high resistance). Stochastic (21,5,3) is bounced off its support and we might see a further rise in price above this level.
HSI Testing Support, Potential Bounce!Hang Seng Index is testing our first support at 25432 (horizontal swing low support, 61.8% Fibonacci extension , 78.6%, 61.8% fibonacci retracement , horizontal swing low support) where a strong bounce might occur above this level pushing price up to our major resistance at 26320 (100% fibonacci extension , 50% fibonacci retracement , horizontal swing high resistance). Stochastic (21,5,3) is approaching support and we might see a corresponding bounce in price above this level.
HSI approaching support, potential bounce! HSI is approaching our first support at 25562 (78.6%, 61.8% fibonacci retracement, 61.8% fibonacci extension, horizontal swing low support) where a strong bounce might occur above this level pushing price up to our major resistance at 26619 (61.8% fibonacci retracement, 61.8% fibonacci extension, horizontal swing high resistance).
Stochastic (89,5,3) is approaching support and we might see a corresponding rise in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
HSI continued 0.618 rejection + pinbar1. Still bearish momentum as shown in RSI
2. Pin Bar formed
3. Rejection from 0.618 levels
4. Price action bearish as price could not be maintained above structure.
HSI approaching support, potential bounce!Hang Seng Index is approaching our first support at 25432 (horizontal swing low support, 61.8% Fibonacci extension , 78.6%, 61.8% fibonacci retracement, horizontal swing low support) where a strong bounce might occur above this level pushing price up to our major resistance at 26327 (100% fibonacci extension , 50% fibonacci retracement, horizontal swing high resistance). Stochastic (21,5,3) is approaching support and we might see a corresponding bounce in price above this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
HSI approaching support, potential bounce! HSI is approaching our first support at 25562 (78.6%, 61.8% fibonacci retracement, 61.8% fibonacci extension, horizontal swing low support) and a strong bounce might occur above this level pushing price up to our major resistance at 26619 (61.8% fibonacci retracement, 61.8% fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
HSI approaching support, potential bounce!Hang Seng Index is approaching our first support at 25562 (horizontal swing low support, 61.8% Fibonacci extension, 78.6%, 61.8% fibonacci retracement ) where a strong bounce might occur above this level pushing price up to our major resistance at 26619 (61.8% fibonacci extension, 61.8% fibonacci retracement, horizontal swing high resistance). Stochastic (34,5,3)is approaching support and we might see a corresponding bounce in price above this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
