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Hang Seng HS50 Trade Idea

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Look out for a twist in the story before any bull rally @tehka, there may be more whip saw price action to come on the US large Caps and European indices yet before any assault on fresh ATHs (or failure to make it).

Personally, I would not go Long until I saw a clean break through overhead resistance and would not go Short until I saw a break of the long term supporting trend line (purple line in my charts).  That said, If I saw a good technical retrace bearish move turn back up, say around the Fib 76/78% with other indices doing likewise I might be tempted to a close stop Long there (i.e. further down from where we currently are).

Once again thanks for the post, it's nice to get some actual trade ideas coming through.

HANGSENG-4-hours.thumb.png.820a579f18a2b13c98fa03a269fa255f.png

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13 hours ago, elle said:

still caught between the gaps - maybe "Jackson Hole" may resolve it ?

Capture hk.PNG

well there's the lower GAP closed

Capture hl.PNG

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Yeah, same on the US large caps.  Coming up on potential wave B turning points there and Gild/Silver are at key resistance so if there is to be a turn it could be last thing tonight of first thing Sunday.

 

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12 hours ago, Mercury said:

it's nice to get some actual trade ideas coming through

Quite.

Although in this case, the obvious thing to do is not to trade it either way.

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All of a sudden 25000 looks like a very real possibility again, although admittedly it might not have been possible without China and DT. It seems the stars are aligned.

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Interesting historical data on HK troubles in relation to the HK 50.

image.thumb.png.58ab0fc6f48dbd8994d9f9cf231b0e0d.png

 

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On ‎23‎/‎08‎/‎2019 at 18:28, elle said:

well there's the lower GAP closed

Capture hl.PNG

both gaps closed

Capture hk.PNG

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China have been very quiet since the dropping of the extradition bill, this below was from 3 days ago.

 image.png.b06a49bdc17d2cbe2c60d45accf4b699.png

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Looking at the Weekly chart, it looks like it is coming down after bouncing off nicely from the 20 EMA on the Weekly chart. 

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@tehka,

It does indeed. I think the political risk is very high with Honk Kong and capital invested may be looking for a different home until things calm down and return to some form of normality. The protests have lasted a very long time, much longer than I thought they would.

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