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Hang Seng HSI

Chart of the Day: HSI1! break down from consolidation wedgeHSI peaked in 2018 and has been in a downtrend marked by persistent lower highs and lower lows. With 40+ odd days to US elections, expect more craziness out of Trump and China to push back by flexing its revitalized military. Anybody else noticed how most of the Chinese Wushu/war shows in recent years have featured Chinese fighting foreigner oppression? The Americans are preparing for a cold war but the Chinese are preparing for a hot war. China has got to be thinking about the ABCD encirclement of Japan in the 1930's and the Plaza Accord; Both stories did not have a good ending but there weren't many options on the table back in the 1930's and 1980's. It is tough for HK to deal with a triple whammy of internal turmoil, Corona virus and a trade war. For now, it is helmets on and, especially for my HK friends, to stay safe and hang on tight.
HKEX:HSI1!Short
by WellTrainedMonkey
Trying to make sense of volumeCovid 19 crash saw huge volume on 20 straight days. While volume reflected on intraday time frames was higher than average, it was no way near as much as the cumulative daily volume shown on a Daily chart. Upon noticing similar thing happening in last 5 days, i dig it up a bit and found this, " Charts that utilize a periodicity of "Daily" will show a different quantity of Volume when compared to charts that utilize an intraday periodicty like 1 minute or 1 Day*. This is caused by the fact that certain types of trades, such as block trades, spread trades and market trades, are considered by the exchange when reporting the cumulative daily volume for a specific symbol or contract. However, those trades are not represented in the tick or 1-minute intraday data for the symbol. These trades together make up the difference observed between the daily volume and the sum of the intraday volume. ". Notice how the price is stuck between the high of the first day and low of the last of those huge volume days, surely not a coincidence. I have a theory but my knowledge is very limited. You can read more about block trades here www.investopedia.com and try to make sense of things. Current setup is very similar to the one prior to the covid 19 crash and the end of June. Accumulation observed on the intraday while big blocks reflected in cumulative daily volume. One crashed, the other rallied. Which one will it be this time? Pre covid setup came after distribution and a selloff whereas end of June was after accumulation and a rally. I will be updating here during the rest of the week. Pls share your thoughts.
HKEX:HSI1!
by Dec0der
18
Accumulation ContniuesHSI isn't very popular on this platform as i rarely use to get 100 views on my posts but last week post was close to 500 so many of you were checking back as i was updating in the comment section during the week. I will post once on the weekend from now on and update in the comment section during the week as things develop. Couple of things i want to put forward. I only trade HSI and there is rarely a day when i don't trade but i can't tell you every trade where to enter or exit. I am just sharing with you what i see in the market at that particular moment. How you trade that is entirely up to you. Please don't ask me where is the bottom/top or i bought here, sold here, will market go up or down. I don't know. You don't have to know any of it to trade. Every moment in market just like each individual is unique. You yourself have to come up with a strategy which best suits your personality. I am just giving you a second opinion. Coming back to HSI, price spent majority of the week zigzagging between 24500-200. Thursday close looked really convincing for a gap down on Friday morning but it open up instead and concluded the week on a dull note. What it tells me is that they are not done here yet. Looking at the close, it appears that gap down and selloff on Monday is less likely. If Market goes back up to the selling zone 24700-800, it will offer a good opportunity to short. More often than not, price will go below the accumulation range in a trap move before reversing. Therefore, it is best to wait till it goes down to 23900 or possibly even below 23500 before deciding to go Long. During the accumulation, down moves are sharp whereas up moves appear laboured. Market has to look weak for dumb money to be on the short side in order for smart money to accumulate, vice versa during distribution. Having said that, i also believe that being on the short side until the very end of accumulation is the right way to trade as long as you are selling from the top of the accumulation range and taking profits in the middle or near the bottom. Do not expect every trade to be a big winner. Market spends vast majority of time range bound. Knowing when market is in the range and when it is about to trend requires understanding of market structure which can only come with time, discipline, dedication and perseverance. Ideas, suggestions, questions are welcome. Regards
HKEX:HSI1!
by Dec0der
24
HSI Bear patter from 2018This is a prediction of HSI trend since 2018 using Wave Theory. It was a complicated A wave with 5 waves inside caused almost 2 years. A1 - Oct 2018 A2 - Apr 2019 A3 - Jul 2019 A4 - Jan 2020 A5 - Mar 2020 (the global pandemic concern) Rebound from A5, It completed a B wave in 4 months. BA - Apr 2020 BB - May 2020 BC - Jul 2020 Rapid rebound and completion of B wave, strong and quick correction C wave could be expected. Personally it could be seen in Q4 2020. Critical Level: 1st target: ~21139 2nd target: ~16800 - 17000 Last target: ~13300
TVC:HSIShort
by gavinckt
HSI - to bounce or to break?The Hang Seng Index had a boosting rally a couple of weeks ago, but lost its hold at the top of the channel and had been working its way down slowly since. Unlike the STI, the HSI appears relatively stronger given the environment and situations it has been in, particularly over the past year and a half. It is a t the lower end of the channel, and candlesticks indicate a slight push down to test the support, followed by a bounce, and a likely fail about two or three weeks later... the downside fallout could come earlier, but there is little now to trigger it, albeit a surging COVID-19 cases in the territory. Ominous weeks to follow, watch for bounce or failure.
HKEX:HSI1!
by Auguraltrader
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.
HSI:HSI
by Elliottwave-Forecast