HSI trade ideas
HSI has seen Stochastics resistance, near-term correction! HSI has seen Stochastics resistance, near-term correction is possible to our graphical pullback support and the 50% fib retracement.
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!
HKD analysis 31/12/2031/12/20
Price is expected to relief and we can expect exhaustion before another push up. Price is at/near monthly resistance so buys are short term of higher risk.
Shorts can only be taken if we have a daily break as directed and a nice valid continuation pattern.
Have a great New years everyone!
Sunny
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!
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!
Hang Seng.....Bear flag in progress!Hello Traders,
HS is moving in a sideways consolidation and is embedded in a bearish flag. This move hasn't touched the 0.382 Fibo of the latter advance and is the minimum target I'd like to see for the end of the flag!
So it could be that HS is „gambling“ around the 26782 level and moving in the trend channel (green lines) for some days.
Any break of the 27040 level would imply that a wave (iii) of ((iii) has started and would be a strong advance to higher levels around the 29-30K area!
A break of the lower boundary of the channel give more potential for weakness development in the coming week (possibly) and could range from 26200-25848 level.
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Hang Seng.....Important decision ahead!Hello Traders,
since my last analysis HS broke out to the upside with a 200 point gap ( I argued this) and made new highs.
The pullback from 27040.41 area, the „breakout high“ is a retest of the support, former resistance level. If HS confirm this level in the coming hours and days and made a new high above the 27040.41 level, we will get a new buy-signal!
As to observe at the graph is the clear „three-down“ from 27040.41 – 26322.68 area (red arrows)! That means, the next degree of trend is to the upside.
So, the important level on the downside is the 26322.68, the upside is 27040.41. Any break of these levels indicate further weakness or more bullish potential in the coming hours and days.
But keep in mind, that HS is now at a critical level (at 26782.62, brown trend line)! This area is important to overcome, too.
If HS is likely to break this area, the next target is the open gap, left by trading from the weekend on Feb. 21-24. This means a close of the gap should bring HS to 27308.81.
Have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
