week10 ( +700) Hang Seng Shorting from strong Resistance

Did well in this type of trade, and this is the type of trades that I want to keep repeating.

h4

First saw Hang Seng struggling to break 25000 level with 52w resistance confluence.

week9 Hang Seng hns 260215

h1

Price eventually tested 25000 for a few times but could not break it.

week9 Hang Seng h1 divergence 260215

m15

As price came to week10. I saw gapping up as a chance to add in more entries.

week10 Hang Seng m15 gap open 020315

week10

Bearflag appearing on Monday. I held on to 25000 short positions, a very nice place to be shorting from.

week10 HSI bear flag pending h4 close 030315

Neckline

TP1 reached 2 days later on week10 Wednesday when price reached the neckline.

Understanding the anatomy of chart patterns in relation to key levels has helped me to craft a very good trading plan. I can see how prices have been building up and know in relation how trades could have better entry n exit points.

I am also gradually forming up the type of price patterns that I am playing off: they are mainly right shoulder, or flag play.

week10 HSI D1 tp levels 040315

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