China is back!China is back and back with a bang!
It has posted its best week since 2008 with a gain of over 15.7%
Go Bejing!
HK50 trade ideas
Hang Seng - resistance reached I believe the Hang Seng has now reached local resistance and all the late comers trying to long Chinese equities now will get caught out.
I have closed out of most of my Chinese positions. I went long on the breakout of the descending parallel channel. Now that we have reached the golden pocket, I’m playing it cautiously. Profit has been locked and I’m using trailing stop loss on the remaining positions.
I fully expect us to take out the low one last time. Don’t ask me when, I don’t have a crystal ball. But I was one of the very few who went long months back. Now it’s time to derisk.
Not financial advice, do what’s best for you.
Hang Seng skyrockets on news and rumours of stimulusProperty and technology companies showed some of the strongest reactions to this week’s news, up on average 7% and 7.3% respectively. Forecasts for most major Chinese tech companies are broadly optimistic and analysts had recently noted the disconnect between these and the actual prices of various shares.
As for USDCNH, there’s clear saturation here from Bollinger Bands and the slow stochastic and the price has reached a new extreme, so immediate continuation is questionable. 20,000 seems to have been broken clearly for now, but the 61.8% weekly Fibonacci retracement just below this might make it an important short-term support if there’s a retracement.
22,800 – January 2023’s high – seems like an extremely aggressive target. It’d be unlikely to see the price continue its recent momentum to reach there immediately but it’s possible over the next few weeks or months depending on earnings and, crucially, confirmed details of further stimulus.
This is my personal opinion which does not represent the opinion of Exness. This is not a recommendation to trade.
CHINA GOING FOR IT! Until Christmas? #BlowoffTop and Recession!Breakout and retest for RSI, China breakingout after 6 long years.
This will have implications on every market, they were waiting for the FED to pull the trigger and now they can go. Game on!
#JD is going, Commoditties will go for it, except #oil maybe.
But more important, #Bitcoin will have the #BLOWOFFTOP I was looking for.
That´s the News GOODS...
The BAD News is, Recession or Crisis after it. December or March 25´as late.
Shares of Chinese Companies SurgeShares of Chinese Companies Surge
As evidenced by today’s Hang Seng chart (Hong Kong 50 on FXOpen), this stock index has risen to a yearly high.
Bullish sentiment in the market is bolstered by promises from China's top leadership, including President Xi Jinping, to achieve the growth target for 2024 and to halt the decline in the real estate market.
Bloomberg News reported that China is considering injecting up to 1 trillion yuan of capital into its largest state lenders to enhance their capacity to support the recovery of the Chinese economy. This proposal is part of broader stimulus measures launched by the People’s Bank of China earlier this week.
Technical analysis of the Hang Seng index chart (Hong Kong 50 on FXOpen) indicates that the price is making a significant upward reversal:
→ This month, the price broke above the trendline (marked in red), which dates back to 2021.
→ Evaluating the angles of decline (indicated by grey arrows), it is evident that the rate of downward impulses has been consistently slowing over time, indicating exhaustion of selling pressure.
→ Price action in 2024 provides grounds to construct an upward channel (shown in blue). It’s possible that the upper boundary could be reached by the end of the year.
Let’s remember that we established a long-term upward channel in January of this year, and today’s price action on the Hang Seng (Hong Kong 50 on FXOpen) confirms its relevance.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
China Optimism FadeFundamentals
Hang Seng
- Broad economic data remains bleak
- HK market isn't so strictly regulated like the mainland one, so it can more likely be let falling
- Risks: Loosening the real estate regulations in big cities, Alibaba case resolve.
USD
- Risks: Fed's 0.5 cut prompts risk assets higher
Technical & Other
Setup: TR(RTF)
Setup timeframe: 4h
Trigger: 1h
Medium-term: Sideways
Long-term: Sideways
Min target: DMA(10)
Risk: 1.08%
Analysis on HSI: Wait For the OpportunityDear All
the chart is clearly prepared itself for the big uptrend.
now it just wait the pullback and selling pressure to die out.
overall, i think the only strategy you should look for
is trying to find the long entries from HSI.
Best Regards,
TraderPP
HK50 "Hong Kong 50" Market Robbery Plan on Bullish SideHola ola My Dear,
Robbers / Money Makers & Losers,
This is our master plan to Heist HK50 "Hong Kong 50" Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Attention for Scalpers : If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money.
Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money.
Entry : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Swing Low
Stop Loss : Recent Swing Low using 2h timeframe
Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target.
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HK50 gave back all of its gains over the past month
BYD and Li Auto dropped by 5.57% and 7.29%, respectively, exerting a decisive impact on the decline of HK50. Despite BYD's reporting of favorable 2Q earnings with a 26% increase in sales, the results fell below expectations. Meanwhile, Li Auto's 2Q performance was down 45% YoY, while sales increased by 10%. However, the 5.6% decline in electric vehicle deliveries in Aug compared to the previous month raised concerns about the Chinese EV market. With growing export tensions, the outlook for Chinese EV manufacturers will likely worsen in 2024, further amplifying the negative sentiment toward the index.
HK50 gave up all the two-week gains and closed at around 17150. The index still holds above the descending channel's upper bound but slid below both EMAs, sending apparent bearish signals. If HK50 fails to hold above both EMAs and breaks the 16700 support, the index may reenter the descending channel and fall further to the 15850 support. Conversely, if HK50 climbs above both EMAs and extends its uptrend to the short-term high at 18200, the index could gain upward momentum to the resistance at 18600.
HSI Bounce Alert!A powerful confluence of technical levels has formed on the Hang Seng Index (HSI), setting the stage for a potential rebound:
- 2024 Yearly Open Support
- 618 Fibonacci Retracement
- Channel Breakout Retest
Will the HSI capitalize on this triple threat of support and bounce back? Share your insights!
HK50 LongTriple bottom on M15, M30 and H1
There is divergence
With the H4 trend
There is no pattern so it is a bit dangerous
100 pip stop loss
HSI Short: Wave 3 and Update on the sub countsBase on my counts, HSI should be going down on a wave 3. If I am not wrong, it should break down from the upward channel.
HK50 - In Bullish TrendHK50 index in bullish trend with no divergence on 1H time frame. The trend is making HHs and HLs with beautiful trend line.
The Signal is:
EP: 17907
SL: 17597
TP: 18217
Decoding HK33HKD: A Bullish NarrativeThe Hong Kong 33 (HK33HKD) index, representing the top companies listed on the Hong Kong Stock Exchange, is showing signs of bullish momentum. Despite recent global economic challenges, several key fundamentals are aligning with a positive outlook for Hong Kong's market. The gradual reopening of China's economy and its potential stimulus measures are likely to boost regional trade and investment, benefiting Hong Kong's financial hub status. Additionally, the resilience of tech and financial sectors, which heavily influence the index, suggests potential for upward movement.
I'm maintaining a bullish bias on the HK33HKD. My strategy involves utilizing probability-based analysis. I plan to enter long positions when the probability of reaching Buyside Liquidity exceeds 50%. This approach allows for more calculated entries, potentially maximizing opportunities in the current market environment.
3M:
2W:
Hourly timeframes:
Don't hesitate to share your ideas and opinions.
The Hong Kong HSI index may now fall to around 11,000 - 12,000Technical Analysis of The Hong Kong (Hang Seng Index):
The HSI index thus shows a weak development, and has broken out of the long-term positive trend, and a further decline is signaled for the HSI index in the future.
The HSI index has broken below an important technical support level around the 18,000 - 20,000 level, and now faces significant technical resistance up against this level.
To change the now negative technical picture that the HSI index shows, the index must manage to break above the 20,000 level and establish itself above that level.
There is now little indication that this will happen, and a further decline is signaled for the HSI index in the short and medium term.
There is limited technical support for the HSI index further down now, before down towards around the 11,000 - 12,000 level (cf. chart).
The overall technical picture for the HSI index thus signals a further sharp decline for this important stock market index in Asia, and where a further fall from today's around 17,600 points down to 11,000 - 12,000 points is signaled during the next 6-12 months.
HK50 Bullish side Money heist planMy Dear Robbers / Traders,
This is our master plan to Heist HK50 Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money.
Entry : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent Swing Low
Stop Loss : Recent Swing Low using 2h timeframe
Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target.
Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style
HKEX to find buyers at market price?HS50 - 24h expiry
Selling posted in Asia.
Short term bias is bullish.
Price action looks to be forming a bottom.
Preferred trade is to buy on dips.
Weekly pivot is at 17348.
We look to Buy at 17350 (stop at 17190)
Our profit targets will be 17750 and 17850
Resistance: 17870 / 18600 / 19780
Support: 17285 / 16695 / 15860
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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HK33 - Channel breakThe HK33 index is in the 4th leg of a major consolidation, that commenced in early 2022.
This will likely be an ABC impulse
A Wave - From Jan - May 24, 2024, this index rallied from mitigated demand at 15,000 to approach 20,000.
B Wave - a corrective phase Jun- August 2024.
C Wave - the next impulse to complete this calendar year, will likely see index move towards 22,000 +.
On the daily chart we can see how the index has filtered lower within a Descending Channel, which is Bullish Structure.
On Monday 5th August, the VSA printed the largest High-volume Bar for the year. It signifies buyers coming into the market in a big way. (This was not an isolated event, as a number of equity markets experienced heightened volume ). This has culminated on last Friday, with a trending bullish candlestick, that broke the channel to upside. It is presently against the 200D MAV at 17578.
When and if the index breaks the 200 MAV, then the bias is likely to shift to one of a bullish sentiment and a greater consideration to go long on this index. This should then be reflected on the monthly chart VSA, with an uptick in volume (as there are plenty of buyers sitting out or on the sidelines for this China Market).
I think the low for this index printed at 15000, and we are very likely to see it appreciate sooner than later.
HSI Short: Hit upper channel trendlineThis idea is based solely on HSI price hitting upper channel trendline. The ability to keep your SL tight means good risk-reward.
Potential for significant growth in the HK50 index Dear Investors,
We are pleased to share with you our latest analyst observations. The HK50 Index is showing impressive upward signals and here's why:
1. Strong support level on the daily timeframe:
On the daily chart, we see price stalled at a key support level. This signals that the market is finding a stable support point here.
2. The “W” reversal pattern on the lower timeframe:
When analyzing the lower timeframes, the “W” reversal pattern is clearly visible. This classic figure of technical analysis indicates a possible trend reversal and subsequent price growth.
