HSI Looking Bearish

16 ago 2020

Despite the short term bullishness in the market, we can see from a higher timeframe that HK33HKD is currently making its move in a wave form. Using the Elliot Wave and Fibonacci technique, I personally think that the market is in the 4th wave and it should swing to wave 5 soon.

We can look for potential weakness to open short position and add more position once the support of 24k is broken. The conservative TP for this particular trade would be around 24000 points and the more aggressive TP would be around 18k. CL should be above 27k.

Please DYODD before making taking risks using money you can not afford to lose. This is just a personal sharing on the patterns which I spot without taking geopolitical factors and the fundamental economics into consideration.

22 set 2020

Nota

Guys if you've entered a short around the 26k region earlier, you should be in a pretty good position right now. If you have not taken profit and is still looking at the 20k points dream then, here's my updated view.

Market is likely to test 23300 region first. If it bounces there then you can look for potential weakness to short. Unless market closes strongly above 24k, the bearish momentum is still intact.



I do write some weekly updates on Global indices. Do feel free to follow my channel via telegram (t.me/ZearthTradingIndices).

Please DYODD before making taking risks using money you can not afford to lose. This is just a personal sharing on the patterns which I spot without taking geopolitical factors and the fundamental economics into consideration.