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Hang Seng.....Resistance ahead!Hello Traders, Hang Seng has „explode“ to 29927.77 this morning. It has achieved my initial target zone well above, and it could be, that per my count, the move should come to an end or has ended today! Ahead for HS is the resistance level at 30280.12, the high from April15, 2019! The most probable scenario should be that HS is bouncing around this level for some days, or it will gap above this zone of resistance tomorrow or at latest early next week. Note, that HS is advancing since December 23, and it is well overbought. So, a quick but sharp correction is just around the corner! But when will it start? A close of the open gap. Left by trading on January 19 could be a first hind for this scenario. All correction above th 27555 level are on lower degree. A dip to 27000 area would have ended the advance for HS. Stay tuned for the next update. Have a great weekend.... Ruebennase Feel free to ask or comment! Trading this analysis is at your own risk!
TVC:HSI
by ruebennase
1
Do you believe in "Blue Monday" ?Here's an interesting article to read. Back in my corporate days when I was doing sales, I heard this from time to time from my colleagues. Being the optimistic sales guy, I brushed this concept off and instead load myself with more sales activities to fend off any negativity that could penetrate my mind. I refused to believe or buy in to Blue Monday concept. Instead, after work, I would go for a run or workout to end the day, feeling a great sense of achievement and ready for the next working day. I know, sometimes there is this pressure to fit in , especially with the corporate mood. But Blue Monday, imo is not one of them. Whether you are in sales or administration, are you using this Blue Monday to get into a lazy mood ? And it affects the beginning of a working week , feeling low and moody. Why should it be this way ? Just because someone labeled it as Blue Monday and the world has to follow ? Come on, you got a choice and your actions , consciously or subconsciously will have consequences. So, decide well what you want and take the right actions. HSI - thus far has cleared nicely 3 levels of resistance and I believe the next 2 levels are within reach with possible pullbacks which I deem as buying opportunity. The stock market is nothing but a massive collection of peoples beliefs. The side that believes it will go up is higher than the side that thinks it will go down will win and vice versa. When both sides tie, then you see the market going sideways.... So, we trade our beliefs about what we think the market will be in the next minute, hour, days or weeks ahead. And our beliefs are constantly influenced by what we already know, what new information we take in , the news we read, the conversations you had with others but more importantly, yourself. You buy your own beliefs !
TVC:HSILong
by dchua1969
3
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_
Hang Seng....Moving higher.....Hello Traders, Hang Seng is on the way to raise within a wave c/y to 28705. The Mob (make or break) level for this idea is at 25998, the wave ((iv)) low on December 22! Note that the index could have ended a complete impulsive pattern by making anew high above the wave ((iii)) high at 26782. To me the move looks more like wave 3 of 3, with a wave iv and v to come and complete the structure! An extension of the 28705.72 area should lead to 29297.21 area. But first we wait for the 28705 level, as long as the wave ((iv)) low is valid! I will update the count in the coming days. Have a great time.... Ruebennase Feel free to ask or comment! Trading this analysis is at your own risk!
TVC:HSI
by ruebennase
Hang Seng.....On the path!Hello Traders, Hang Seng has declined into my cited target rang from 26200-25848. Today the index closed trading at 26119.26. The decline does not look complete, so my goals remains unchanged! At 25484 the 0.382 Fibo of the advance from 23124-27040. So, it could be a good Fibonacci-target. Note the open gap at 25712.98-26157.77, in which HS has diving in. It could be possible, that this gap will be closed completely. It needs a push above 26668 (blue arrow) to alter this view. I wish all of my readers and their families a merry and healthy Christmas. Have a great time.... Ruebennase Feel free to ask or comment! Trading this analysis is at your own risk!
TVC:HSI
by ruebennase
Hang Seng.....Open target @25848!Hello Traders, Hang Seng has touched the lower boundary of the channel and bounced to the upside (@ 26668) and pulled back again. The overall development from the high @ 27040 does not look complete and my mentioned target (@25484 is still valid! In this case, the odds would favor a wave ((iv)) and after impulse within a weave 5, that develop as a 1-2-3-4-5 would be next. Any break of the wave ((i)) high @ 24970would alter the count, `cause wave ((iv)) would break into the territory of wave ((i)). Keep in mind, that every 1-2-3 could be a wave a-b-c (w-x-y)! Have a great Sunday..... Ruebennase Feel free to ask or comment! Trading this analysis is at your own risk!
TVC:HSI
by ruebennase