HSI trade ideas
Elliott Wave View: Hang Seng Index Correction In ProgressHang Seng 15 minutes chart below shows that the index has extended lower from July 7 peak. The decline is unfolding as a double three Elliott Wave Structure. From July 7 high, wave W ended at 25570.36 low. The bounce in wave X ended at 26103.84 high. The pair then extended lower in wave Y, which ended at 24766.17 low. This completed wave (W) in larger degree. The decline reached the blue box area, which is the 100 – 123.6% extension of wave W-X. From that blue box, the Index did a 3 waves bounce in wave (X), which ended at 25772.41 high. The bounce unfolded as zig-zag Elliott Wave Structure.
Afterwards, the Index continued its decline and broke below previous wave (W) low. This confirms that the next leg lower in wave (Y) is already in progress. Down from wave (X) high, the index extended lower in wave A and ended at 24526.91 low. Wave A low ended at 61.8-76.4% extension of wave (W)-(X). From there, the index is currently doing a bounce in wave B. While below 25772.41 high, the bounce in 3,7 or 11 swings is expected to fail. The index then can do another leg lower in wave C before ending wave (Y) in the larger degree. The 100-161.8% extension of (W)-(X) where (Y) can end is between 22486-23743 area.
Hang Seng...The first waves of a decline?Hello Traders,
Hang Seng has finished a double-zigzag @ 26782 on July 7. The index is declining in the first waves of wave „3“, which would bring HS below it`s March 19 low @ 21139.
the alternate view implies a corrective setback within a wave „2“ and new highs are probably next to expect!
At my later analysis, I spoke about the „Hang Seng Short Index“. This index is moving inverted to the behavior of Hang Seng.
The Short index made a higher low@ July 7 @4692. Since then, Hang Seng Short index is advancing higher, while Hang Seng is in a declining phase. If this behavior is relevant, Hang Seng will make lower lows as long as the July 7 high is in place. That means on the other hand, that the Short index is pushing higher.
An area for this case should be around the 5393 levels, for Hang Seng it would be around 23685 zones (denoted with the red arrow). The more bearish potential exists.
This interpretation is valid, as long as the high @ 26374 is in place. Any advance above the July 7 high @ 26782 would void the bearish forecast.
Have a great week...
ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Hong Kong Stock Index (Go With The Flow)View On Hong Kong Stock Index (21 JULY 2020)
HSI has met with strong support near the 25k level and it is priming to burst back up. 25.5k and 25,990 are resistant.
DO not short at this moment.
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Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors.
The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.
DISCLAIMER:
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice.
Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
HANG SENG - Could we get further decline?I took a short at the areas at the top, it was looking very over extended. The line I always use and think when I analyse and my life philosophy - What goes up must come down - and vice versa. But the key question is - if we go below further the trend line up, and we have clear further declined I would short the further decline. However, we are at a key area and test the areas of the highs again. Smaller time frames my indicate patterns or candle formation to validate further.
HSI DOUBLE TECHNICAL INDICATOR CONFIRMATIONUsing confirmation for both the Fibonacci retracement level and inverse head & shoulder, the strategy is potentially robust enough to cover both bull and bear situation.
Strategy:
1. if moving toward resistance 1 and breakthrough, can long targeting resistance 2 using support 1 as a potential stop-loss point.
2. if moving toward support 2 and breakthrough, can short targeting support 3 using support 2 as a potential stop-loss point.
Note: This idea is simply speculation and does not indicate any recommendation nor take any responsibility.
Road to 30KTechnical analysis. Short term, Jul 13, 2020
Hang Seng and the index is in a rising trend channel in the short term. This signals increasing optimism among investors and indicates continued rise. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 24500 points. The index is assessed as technically positive for the short term.
HSI on its way to Wave 3?This is linked with my previous idea about Hangseng Index following 38-23-61 FIB retracement. Recently, on the HSI chart, after the price hitting the 61% FIB,the index fall (corection). I think the HSI will continue its trend to 161% FIB. However, there will be corrections occur in order to recharge its power heheheh CMIIW
Hong Kong Stock Index (A Strong PushUP We Had)View On Hong Kong Stock Index (4 JUNE 2020)
We had Extreme strong MOve UP on HSI and it was massive.
So, after the Glory fade, it is normal for profit-taking to set in and it may pull back a little bit.
We expect the pullback can go to as low as 25,500 regions but the overall bull move may still get pretty much sustained. So, please watch out 25,500 regions carefully.
Legal Risk Disclosure:
Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors.
The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.
DISCLAIMER:
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice.
Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Hang Seng....A thrust off a triangle?Hello Traders,
Hang Seng has risen to 25373 this week and it`s up ~ 4k points from it`s low @ 21139 on the week of March 9. Since the low HS has just retrace 0.35 of the decline from the ATH @ 33484. This is weak! So far, the move since that low is just a „three-up“ and it is countertrend. If waves C equals A @ 26478, what is the retracement of 0.43 of the countertrend, it could be a good reversal area to assume the downtrend since January 2018!
The structure from the ATH to 21139 shows overlapping waves and indicates a correction to a high degree. It could be waves (A)- triangle (B)-(C) or just a flat (W)-(X)-(Y) or a variation thereof.
Very interesting is a quick view of the Hang Seng Short index (Tick: HSISI) below the HS graph.
This index topped in September 2011 and is in a downtrend since.
Every low or high this index made, coincides with a low or a high for HS, but in an inverted view!
So, if this observation is right, HS has room to advance in the coming days and weeks ahead, because the structure of the Short index looks not to be done to the downside! A break of the level @ 4748 for HS short index would imply an ongoing advance for HS! As before. a mentioned area is around the 26478 zones (waves C=A)!
At the 3h chart for HS you can observe one alt count. I have counted a rare „expanding triangle“ for the index and if this count works out, the break above the wave (d) high @ 25303 implies a „thrust“ in a wave ((c)) underway. A target range for this scenario is @ 26277, where it would close an open gap, left by the trading on March 6-9 (c=26146-o=25134)! This would be shy below the 26478 area I have mentioned before!
For the very short term view, I expect HS to rise to still higher levels in the coming 1-2 days.
Stay tuned for the next update for Hang Seng.
Have a great Sunday and a great week...
ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
