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Hang Seng HSI

HSI Daily Double Bottom 0.618 Long Opportunity It is interesting that we see there is a similar pattern shown in HSI: Double Bottom with 0.618. Last time, the price reached 0.618 level and the price was supported to reverse. Now the double bottom formed and the price near the 0.618 level, it is an opportunity to BUY. Sometimes, you might see similar patterns in the charts and its repeated again. The importance is what you will do if the pattern appears again! Be Patient and Relax! ---------------------------- Enjoy the trading itself, and you will be much better at it! Thank you. This is TraderPig.
TVC:HSILong
by TraderPig
Hang Seng: Symmetrical Golden/ Death Cross. Long term Buy SignalHang Seng has been devastated by the recent negative geopolitical climate, reaching in August the 24,900 1W Support. The rebound that followed on 1D was rejected near the Lower High trend line (dashed) and 1D MA200 (orange line) thus keeping 1W bearish (RSI = 43.695, MACD = -309.550, Highs/Lows = -317.3100). We have had a Death Cross formation on that bottom and interestingly enough it is symmetrical with the Golden Cross in March. Since we already tested the 1W Support there are more probabilities now to resume the uptrend and reach at least the 0.618 Fibonacci retracement level (currently at 28,200) like Hang Seng did on its 2019 top. Anything above that will be bullish towards at least 30,200 (2019 High). If however by any chance the index dip again to the 1W Support (the 2018 bottom was at 24,500) then that would be an even stronger long term buy signal towards the 33,500 ATH. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:HSILong
by InvestingScope