About to breakthrough!FX:HKG33
From previous post - D chart shown that the MACD SIgnal lines are both downtrend and breakthrough the zero line. Forming a short term bearish mode.
The Index corrected down to 18956 (last week low).
As you can see from the snapshot from W chart that week of 11Nov,
week of 18Nov: -246.64 (-1.27%)
week of 25Nov: +395.16 (+2.06%)
This week - 2 Dec : as of now -109.64 (-0.56%) if the Index able to hold at the support level of 19330 and break 19785, the Index then considers reversal.
the MACD Signal lines.
Trade Plan -
Day Trade : 19000-19700 (Long at support and short at resistance dependings on your tf
Swing Trade : 2 days - 3wks : Accumulate at 19000-19150 Discount level, Take partial profit at 19300, 19700.
Longterm Trade : The Index is now retracing. May accumulate & hold at 19340 (if you have been monitoring accumulating starting 16900.
