Hang Seng Index Rocket running out of fuel ๐โฝ๐
Hello, good day traders! ๐๐ค
I'm looking for a potentialย sellย ๐ย setup for $Hang Seng Index(800000.HK$ย , with both fundamental and technical indicators to back it up.
๐ฐFundamentally,
Hong Kong stocks snap 3-day rally before Tencent and Alibaba earnings while developers retreat on China stimulus concerns
Tencent has reportedly started a new round of lay-offs before its third-quarter report card due later today
Property developers surrender some of this weekโs gains as analysts view Beijingโs policy incentives as insufficient to end the industry rot
๐คOn the technical front,
1.) Looking at the H4 chart, I have a bearish bias for HSI. Price has tapped into my sell entry at 18235.48, where the previous swing low was located.
2.) My stop loss will be at 19492.06, which is where the 61.8% Fibonacci line is located.
3.) My take profit point will be at 16447.53, where the 23.6% Fibonacci line and -27.2% Fibonacci expansion line intersects.
Trade Entry recommendations:
Sell Entry: 18235.48๐
Take Profit: 16447.53 ๐ฒ
Stop Loss: 19492.06โ
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102640653 : I'm buying call warrants on hangseng index looks ripe for a rally after profit taking . Good days
102640653 : I based my bias on feeling n not on technical .
102640653 : It should close in a range of 18100-18200 zone today or even higher
่ฎฉๅญๅผน้ฃ๏ผSG) : Agree, shuffle the cards and let them continue drinking and eating meat later.
Falling angel ่ฎฉๅญๅผน้ฃ๏ผSG) : I hope![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
rockyroadzllc_503 102640653 : I love