For those that watched my analysis the past couple days, Congratulation! It was a pretty easy set up for a buy once the candle close above 16843. For today, we are finally back to the initial level I mentioned awhile ago.
Whether if HK50 can break and hold above 17100? If it does, then we can sort of say we have now break the bearish trend and can look for more bullish sign toward 18000 level.
Today trade idea: 2 ways to look for buy. If the first 15 mins candle first open with a gap to the downside then flip bullish, we can look for buy until 17430. If it opens right away with a bullish candle, I will wait for the first hour candle to close first, once it forms a bottom wick, I will enter a buy when it breaks the previous 1 hour high.
For sell, it might be little bit tough at the moment, as the candle can easily reject at any moment. Thus, I will be cautious for the sell until I can see confirmation of closing below resistance level
Whether if HK50 can break and hold above 17100? If it does, then we can sort of say we have now break the bearish trend and can look for more bullish sign toward 18000 level.
Today trade idea: 2 ways to look for buy. If the first 15 mins candle first open with a gap to the downside then flip bullish, we can look for buy until 17430. If it opens right away with a bullish candle, I will wait for the first hour candle to close first, once it forms a bottom wick, I will enter a buy when it breaks the previous 1 hour high.
For sell, it might be little bit tough at the moment, as the candle can easily reject at any moment. Thus, I will be cautious for the sell until I can see confirmation of closing below resistance level