Insights on Tencent?
Hey Investors!! What do you guys think of this setup $TENCENT (00700.HK)$
On the H4, with prices moving below the ichimoku indicator, I have a bearish bias that price will drop from the sell entry at 353.3 in line with overlap resistance, 61.8% fibonacci projection and 38.2% fibonacci retracement to the take profit at 328.0 in line with swing low support and 78.6% fibonacci projection. Alternatively, prices could break entry structure and rise to stop loss at 375.0 in line with swing high resistance, 61.8% fibonacci retracement, 100% fibonacci projection and 78.6% fibonacci projection.
Entry: 353.3![]()
Take Profit: 328.0![]()
Stop Loss: 375.0![]()
$Tencent 5xShortSG230202 (DTCW.SG)$
$Tencent 5xLongSG220808 (DDLW.SG)$
On the H4, with prices moving below the ichimoku indicator, I have a bearish bias that price will drop from the sell entry at 353.3 in line with overlap resistance, 61.8% fibonacci projection and 38.2% fibonacci retracement to the take profit at 328.0 in line with swing low support and 78.6% fibonacci projection. Alternatively, prices could break entry structure and rise to stop loss at 375.0 in line with swing high resistance, 61.8% fibonacci retracement, 100% fibonacci projection and 78.6% fibonacci projection.
Entry: 353.3
Take Profit: 328.0
Stop Loss: 375.0
$Tencent 5xShortSG230202 (DTCW.SG)$
$Tencent 5xLongSG220808 (DDLW.SG)$
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