( 2pos in progress week16) week15 Hang Seng pending Wr2D1B 1234 WR

Naked Chartist

D1

Last month was hitting on Hang Seng and then got out before a V bounced initiated by a bullish kicker.
Price is now at the previous bearish abandoned baby and seems to be setting up a

1234 with 2 months WR pending. It is either this or a ‘W’ bottoming chart pattern pending completion. Either way.

But now it seems to confluence with global risk-off mood. Will be waiting for the WR first, preferably with a bearish engulfing.

week15 HSI D1 1234 WR2D1B 110414

updated 160414

Price has completed a bearish expansion day below 2 months high. The color change from yellow to purple also suggests the initial bullish euphoria in breaking a key 2 months high has now been undone by an equally strong bearish expansion day. Such a sharp reversal suggests that very likely these levels are seen as resistance and hence I will be using that as a hard stop.

On retracement…

View original post 31 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s