HSI trade ideas
Hang Seng Index - Supply & Demand AnalysisRecently Hang Seng Index reversed on a strong monthly Supply Zone finishing it's external bullish cycle
The price decided make an external bearish cycle.. now it's advised to SELL at long term basis.
Next destinations:
A) DEMAND (26908.14 - 26021.63)
Here price need to decide: if reverse in order to back to SUPPLY (32004.32 - 31126.20) OR BREAKOUT , retest and go to next DEMAND (23622.97 - 23204.17)
B) DEMAND (23622.97 - 23204.17)
Final external bearish cycle destination
Enjoy the Profits!
Hong Kong Budget 2020/21 and HSIWill this budget help push the HSI higher ?
Currently, HSi is now at the resistance zone where it was last visited at 18 June 2018. Profit taking is the theme now with many indices like Nasdaq, SPX500, DJIA , etc tumbling down. There is news that interest rates is going to spike but personally, I think that is overblown....
With unemployment remaining high in HK, people forced to stay home, the entrepreneurial spirits of the Hong Kong people will create more online businesses, imo. I believe the freelance markets not only in HK but globally will increase tremendously and change the employment landscape.
Imagine being retrenched at this time and with many companies not hiring, you will be forced to think out of the box to find an income. Food delivery , private hiring, home baking, to name a few will be popular as it relatively easy to start. So long as one is willing to put in the hours, the money is there ! Others can tap on the ecommerce market to sell things online from handicrafts to promoting their services.
I will wait for the pullback to complete before adding more.
Hang Seng.....All of wave ((iv))?Hello Traders,
Hang Seng has made a new low at 28957.31 yesterday. It nearly touched the uprising trend line, which connects the highs of waves (i) and the low of waves (iv) and bounced today within a 784.56 points advance to 29880 on a closing price.
The low at 28957 is either all of wave ((iv)) or it is wave (a) of ((iv))!
In the latter case, today's advance is part of wave (b) what can develop into a flat or a variation thereof. Note that the pattern of the correction between waves ((i)) and ((ii)) took the shape of an „expanding flat“. Following the rules of alternation, it could be that a flat or a triangle is under construction!
At the bullish case, it needs to pop above the high at 31183.36 to clear the view and judge that wave ((v)) is underway.
Have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
HSI Bouncing off low?Is this a real or fake bounce? its on the 4h so its still not as strong if it happens on the 1d
HSI could retap the 61.8% fib support and bounce ! HSI could retap the 61.8% fib support and bounce !
HSI on support, hopefully it holds outwe are on support, lets hope it holds out. Take a look at all our charts below
Hang Seng.....Wave iv done!Hello Traders,
Hang Seng has made a new high @31084.95 on a closing basis (intraday at 31183.36) and pulled back to 30099.71. It closed the open gap left by trading on February 16. This low could be wave iv of v of (v) of (iii)!
If so, HS will make a new high on both, intraday and closing basis, in the coming days ahead.
The alternate view suggest a more complex structure for the coming week or two.
If HS is on a rally path, a common target for HS could be around the 32069.08 area, where waves (iii) of (v) of Y is a 1.382 Fib.-Extension of wave W-X!
It needs a decline below the area of 28259 to change the bullish view short term.
Note: the blue arrow means the more expected scenario, while the gray means less expected scenario!
Have a great weekend.....
Feel free to ask or comment!
Trading this analysis is at your own risk!
HSI update on 20210217HSI gained on the first trading day of the Year of the Ox, overcame the year high of 2019. Heading to 33484, the year high of 2018, would be the only way out. HSI is strong. It broke the long term down trend in the end of 2020, and broke the ascending channel in January 2021 successively. All moving averages are bullish. Keep 100% long.
HSI, gapped up on the first day of trading after CNYGreat gap up. if you have not entered, do consider to enter on pullback
See if HSI can climb up and hold up into the range of top Expected to open high tomorrow (15 Feb)
If HSI is able to close in the range, chance is there for record high.
Resistance level highlighted for reference.
Hang Seng.....Sideline!Hello Traders,
Hang Seng has reached to 30191.16 on January 25! This high could be a wave (iii) blue of ((iii)) black! If so, a corrective move within a wave (iv) is under construction.
As you know waves 4 of any degree can morph into a complex structure, as a double, triple or triangle for example!
While the structure of this pattern now is not clear to my view, I step at sideline, as long as a clear pattern develops.
Trading above the 30191.16 level can act as a Stop buy signal, while declining below the possible wave (iv) blue level @ 28259.73 can be part of a wave c underway.
I will update the chart in the coming hours!
Have a great week.....
Ruebennase
Trading this analysis is at your own risk!
Feel free to ask anytime!
HSI update on 20210208, BullishUptrend, first target 30277 , the previous high and the high at 2019. All moving averages are in bullish. Since the breakthrough of the long term down trend Q4 last year, the situation has improved a lot.
HANGSENG 06022021HSI weeky closed bullish,
seeing possible go up further.
30k - 30,400 is next strong resistance zone.
Next direction for HSI Index (For education)R3: 30,121
R2: 29,659
R1: 29,375
S1: 29,083
S2: 28,750
S3: 28,506
Hang Seng Index daily long setup(asset allocation)Actually, 30000 is a key level where buyers need to take a rest. From the daily perspective, a 5% drop is expected shortly after.
However, the five o clock drop style is believed to be unsustainable. There are two possible scenarios as below to play with:
1. Drastic fall occur early next week. Price hit the daily zone and bounced back from there
2. Sideways for a while before MAs coming up.
No matter what, HSI is really attractive(valuation) compared to mainland China. A lot of fund coming to HK market via the 'Stock Connect' scheme. Our team also recommends clients to allocate on such funds.
Keep Long Positions HSI After the breakthrough of the Long-term downtrend in Q4 2020, HSI would keep in ascending channel mid-term view. In Weekly chart, all 10/20/50 moving averages are in bullish moving average patten. In short terms, the uptrend started from Sep 2020, move to 27500 on next week , it would be a very strong support.
HANGSENG 30012021HSI weekly closed bearish and erase previous week gains.
break below 28k will trigger more downside ... next strong support at 27k
HSI tapped the EMA 50 and double tweezer pattern formed HSI tapped the EMA 50 and double tweezer pattern formed. Potential for a bounce at 38% fib retracement key support here !
