Thoughts on HSBC?
Hey everyone, I have a setup here $HSBC HOLDINGS(00005.HK$
On the H4, with prices moving within a descending channel and below the ichimoku indicator, we have a bearish bias that prices will drop from sell entry at 50.30 where the 78.6% fibonacci projection, 61.8% fibonacci retracement and swing high resistance are to the take profit at 47.35 in line with swing low support and 61.8% fibonacci projection. Alternatively, prices could break entry structure and rise to stop loss at 52.55 where the swing high resistance is.
Entry: 50.30![]()
Take Profit: 47.35![]()
Stop Loss: 52.55![]()
$HSBC 5xLongSG230920(DHSW.SG$
$HSBC 5xShortSG241213(DTIW.SG$
On the H4, with prices moving within a descending channel and below the ichimoku indicator, we have a bearish bias that prices will drop from sell entry at 50.30 where the 78.6% fibonacci projection, 61.8% fibonacci retracement and swing high resistance are to the take profit at 47.35 in line with swing low support and 61.8% fibonacci projection. Alternatively, prices could break entry structure and rise to stop loss at 52.55 where the swing high resistance is.
Entry: 50.30
Take Profit: 47.35
Stop Loss: 52.55
$HSBC 5xLongSG230920(DHSW.SG$
$HSBC 5xShortSG241213(DTIW.SG$
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