Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Technical Analysis HK50 : 2019-01-03
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="IFC Markets, post: 157765, member: 18359"] [SIZE=5][B]Negative data bearish for HK50[/B][/SIZE] Hong Kong’s trade deficit widened in November. Will the HK50 continue declining? Recent Chinese economic data were negative: manufacturing slowed in China in December while trade deficit widened in Hong Kong in November. Markit reported that Caixin Manufacturing PMI declined more than expected in December, indicating contraction in China’s manufacturing sector. And Census and Statistics Department of Hong Kong data showed trade deficit widened to HKD 45.0 billion in November of 2018 from HKD 39.7 billion in the same month a year earlier. The slowing of activities in manufacturing sector is being attributed to deteriorated US-China trade relations, though President Trump tweeted over the weekend about “big progress” in a telephone discussion about trade with Chinese leader Xi Jinping. Weak economic data are bearish for HK50. [IMG]https://ifccd.net/uploads/image/HK50_O_03Jan2019.png[/IMG] On the daily timeframe the [B]HK50: D1[/B] is falling after retracing to three-month high in the end of September. [LIST] [*]The [B]Parabolic indicator[/B] gives a sell signal. [*]The [B]Donchian channel [/B]indicates downtrend: it is tilted lower. [*]The [B]MACD indicator[/B] gives a bearish signal: it is below the signal line and the gap is widening. [*]The [B]Stochastic oscillator[/B] is falling but has not breached into oversold zone yet. [/LIST] We believe the bearish momentum will continue after the price breaches below lower boundary of Donchian channel at 24926.5. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above the last fractal high at 25958.0. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (25958.0) without reaching the order (24926.5), we recommend cancelling the order: the market has undergone internal changes which were not taken into account. [SIZE=5][B]Technical Analysis Summary[/B] Position Sell Sell stop Below 24926.5 Stop loss Above 25958.0 [/SIZE] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…