Thoughts on HSBC?
Hey everyone! I have a setup for you guys $HSBC HOLDINGS(00005.HK$
On the H4, with prices breaking out of the descending channel and above the ichimoku indicator, we have have a bullish bias that prices will rise to buy entry at 52.65 where the swing high resistance is. Once there is upside confirmation that prices has broken the entry structure, we would expect bullish momentum to carry prices to take profit at 55.05 where the swing high resistance, 161.8% fibonacci extension and 100% fibonacci projection are. Alternatively, prices could drop to stop loss at 51.85 where the pullback support is.
Entry: 52.65![]()
Take Profit: 55.05![]()
Stop Loss: 51.85![]()
$HSBC 5xLongSG230920(DHSW.SG$
$HSBC 5xShortSG241213(DTIW.SG$
On the H4, with prices breaking out of the descending channel and above the ichimoku indicator, we have have a bullish bias that prices will rise to buy entry at 52.65 where the swing high resistance is. Once there is upside confirmation that prices has broken the entry structure, we would expect bullish momentum to carry prices to take profit at 55.05 where the swing high resistance, 161.8% fibonacci extension and 100% fibonacci projection are. Alternatively, prices could drop to stop loss at 51.85 where the pullback support is.
Entry: 52.65
Take Profit: 55.05
Stop Loss: 51.85
$HSBC 5xLongSG230920(DHSW.SG$
$HSBC 5xShortSG241213(DTIW.SG$
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