HSI trade ideas
Hong Kong Index (Wheresoever you go, go with all your heart)View On Hong Kong Stock Index (4 JUNE 2020)
Geopolitical tension is flaring in Hong Kong city-state and it can bring a negative impact on its Stock Market.
Today is the holiday and HSI will open from tomorrow.
For the past 2 weeks, it was hovering at the support region of 24,250, it shall get broken sooner or later.
23,130 region will be the next support level.
So, buckle up Dorothy.
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Once the 25,000 resistance level is break out , it will head up higher.
adding more now
Hang Seng....End of wave "2"?Hello Traders,
Hang Seng advanced to 25071 on June 24. This move shows overlapping waves, indicating a corrective pattern. It could be a wave „2“ which was done at 25071 and the index is ready to decline.
If so to come, HS will decline in the coming hours and a cross of 23685 would strengthen the odds for this view. A first hint is a break of 24184 and 24121 (denoted with the blue arrows) on an hourly closing basis.
If HS breaks below 23685 the target zone is the lower boundary of the channel (red) which crosses ~23100 area on Monday. A break of this channel line would indicate more bearish potential ahead!
On the other hand, would make a move above 25303, the wave (y) high this count invalid, and an alternate view come into play, including higher highs to come in the days ahead.
Have a great weekend
ruebennase
Feel free to ask or comment.
Trading this analysis is at your own risk!
Hang Seng....End of wave "2"?Hello Traders,
Hang Seng advanced to 25071 on June 24. This move shows overlapping waves, indicating a corrective pattern. It could be a wave „2“ which was done at 25071 and the index is ready to decline.
If so to come, HS will decline in the coming hours and a cross of 23685 would strengthen the odds for this view. A first hint is a break of 24184 and 24121 (denoted with the blue arrows) on an hourly closing basis.
If HS breaks below 23685 the target zone is the lower boundary of the channel (red) which crosses ~23100 area on Monday. A break of this channel line would indicate more bearish potential ahead!
On the other hand would make a move above 25303, the wave (y) high this count invalid, and an alternate view comes into play, including higher high`s to come in the days ahead.
Have a great weekend
ruebennase
Feel free to ask or comment.
Trading this analysis is at your own risk!
