MHI1! trade ideas
Hang Seng - The Rebound found resistanceHang Seng rebound strongly with fresh measure announced to ease funding for private companies.
The strong rebound brought price to 26222 level. On the left chart, price reached one third of previous downswing (important fibonacci retracement level), also hovering around previous downward channel line. On the right 60 mins chart, yesterday rebound reached 5 golden ratio multiples and quickly retraced. Both charts in different time frame were suggesting the rebound hitting major resistance. And Hang Seng have not prove to be trend reversal, market remain bearish.
The current price projection from 26222 level as follow:
25917 short tern support for selling
If price trade below 25917, next target at 25729.
If price trade below 25729, next target at 25424
Dow, FKLI & Hang Seng - The 50% RetracementThe sharp declined in indexes market have not make significant come back yet since 11 Oct.
The 3 charts plotted in 60 minitues time frame. From the left
- Dow declined 7.6% from the peak, and rebound to 50% ratracement ( 25510) and trade below.
- FKLI declined 6.7% from the peak, and rebound to slightly higher than 50% ratracement (1738) and retraced.
- Hang Seng declined 10.5% from the recent peak, among the worst performing market, and rebound to 50% ratracement (25775) and trade below.
The current price structure in correction stage with no indication of bullish yet.
The preponderance of evidence: HSI futuresThis is part of a series of charts which I will posting for the reader to make up his/her mind based on the weight of the evidence.
Do note, these are weekly charts which means the implications of which will occur over the next 12, 18, 24, 36 months.
Hang Seng - Room for downsideSince Jun, Hang Seng moving in 30 degree downward sloping channel. Price did not move out from this channel, and previous rally found resistant at the familiar upper channel again.
The current price movement have formed lower low, thus the downside target projection are use for price target for reference. If price continue to trade below 27439 will see 27062 & 26452 right after. Fibonacci spirals act as "future" support and resistance. Trader please be cautious when price trading near the above two levels.
Bullish Wolf Wave on Hang futures $fxi $momo $iq $baba $tchey I see a min. of 1k+ move to the .382 fib level
Hang Seng - Support at 27300 & 26880Hang Seng likely to join Dow Jones to trade lower with cautious on rate hike ahead.
On the left chart (4 hours chart), Hang Seng Futures trading in a downward sloping channel with moderate slope of -22 degree. The recent rally not able to brought the index anyway further. Price is likely to continue to trade within the range for days to come.
If the current selling continue, as long as price below 27550, price is likely to discover lower price zone 27300 and second target at 26880.
Hang Seng - Reach Resistance 27270Rebound with global sentiment recovery from trade war concern. Hang Seng selling reach 50% retracement level 26683 on yesterday (left chart) and rebound. However the current swing have achieved 4 multiples of golden ratio. A potential retracement may occur. This basis can be refer to Hang Seng was under-performer among all indices market during this period of time.
Thus, today commentary are require to provide two directions view:
If price go higher high than 27270, price will further rebound to 27647.
If price trader lower than 27270, support could be found on 27025 & 26945.
Hang Seng - Price Heading to 26394Hang Seng did not went higher then 50% retracement stated in previous post. Quick selling seen in Monday open. The current price projection suggesting price to reach 26394 in the short term (300 points from now).
Hang Seng - Rebound reach 50% retracementHang Seng reach a conservative projection target yesterday, it went higher to reach 10 golden ratio multiples (1.618^10) & 50% retracement level on the left.
The rebound has not prove to be a reversal yet, as price did not go higher than correction zone 26990 & 27575, primary trend remain downtrend. Trader please trade with cautious as price will be volatile during correction phase.
Hang Seng - Rebound from LowHang Seng rebound from initial projection on post 5 Sep & 6 Sep 26431.
The current rebound expect to reach 26773 to 27222 (see left chart). If price did not trade higher that this, the primary trend remain weak and no reversal indication yet. Trend trader can remain sideline as current swing is correction phase.
Hang Seng - No sign of reversal yetPrice reach spiral projection 27156 yesterday. While price remain below 27156, 26431 is the next projection target.
Hang Seng Heading 27156 in short termBoth charts showing 3 fibonacci spiral projections. On the left, in Hang Seng Futures Daily charts, the downside room project at 26431 (Around 950 points from now). On the right chart, a 30 minutes chart spiral projection at 27156 (230 points from now). Trader please do not hesitate to sell until price trade higher high.
Dow vs Hang Seng DivergenceThe two market are not necessary similar, but historically both index have positive correlationship close to 80%. Dow make higher high during June, at the same month Hang Seng breakdown from the range and form lower low. The current divergence has lead both indices correlation to 26%. Is this the outcome of tariff war?
HSI Futures: Top of range short This is a follow-up from my 15 May post; HSI futures completing an intra-day ABCD and making a lower high (78.6% retracement) with a negative MACD cross-over. Initial target would be 30,550, -2% for an eventual test of bottom of the range at 29,500.
HSI: Top of range for 5% short tradeThink the chart says it all, HSI futures at top of consolidation channel which sets us up for a nice short to test the bottom of the range at 29550, for 5.5% downside potential. This has a clearly defined stop out range and gives optionality for a potential channel breakdown to test a ABCD target of 27500.
HSI: Top of range for 5% short tradeThink the chart says it all, HSI futures at top of consolidation channel which sets us up for a nice short trade to test the bottom of the range at 29550, for 5.5% downside potential. This has a clearly defined stop out range and gives optionality for a potential channel breakdown to test a ABCD target of 27500.
