Hang Seng Index Bearish Sentiments 📉📉📉

Hello, good day traders! 👋🤙

📰Fundamentally, Stocks in Hong Kong and China fell over 4% on Monday morning, with the Hang Seng Index falling over 4% and the Shanghai Composite Index falling 1%. Investors expected some economic stimulus measures to be announced at the Communist Party of China's 20th National Congress, which concluded over the weekend. The meeting, however, was mostly about personnel changes. As a result, Hong Kong stocks fell to a new 13-year low on Monday.

🤔On the technical front,

1.) I'm looking for a sell entry at 16182.32 where the market gap and 38.2% Fibonacci line are located.

2.) My stop loss will be at 17102.60 slightly above where the 61.8% Fibonacci line is located.

3.) My take profit will be at 14083.07, where the previous low and 100% Fibonacci line are located.

Sell Entry: 12473.33📉

Take Profit: 11037.21 💲

Stop Loss: 13175.25❌