Accumulation structure $728
Fast dynamic support holding up. Price hovering near structure resistance.
Accumulating at 2.70-2.80 area, sell at 3.50 - 3.80 VBP resistance.
RRR = 3.00++ not bad for a position trade.
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Using triangle patterns to tradeIf you dislike using fraction to do your charts as I have shown here , how about the world of shapes ?
One of the most common methods that traders used is triangle shapes pattern in charting.
So, in Haitong Securities, we can see that it has been on a down trend since it hit 27 in Apr 2015.
Now, it is reaching the apex of the triangle and you can see the price range that it is trading each day is also getting tighter and narrower.
OK, think of the price action as a spring coil trapped i
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HSBC is approaching support, potential bounce Prices are approaching support where we could see a bounce above this level, Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.
Long
Ping An is approaching resistance, potential reversal Price is approaching resistance where we could see a reversal below this level. Ichimoku cloud is also showing signs of bearish pressure as well, in line with our bearish bias.
Short
LONG 3690 (Meituan)Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Long
Long
Tencent is approaching resistance, potential reversalPrices are approaching resistance where we could see a further drop below this level. Ichimoku cloud is showing signs of bearish pressure as well, in line with our bearish bias.
Short
Tencent Holding(HK: 700) Opportunity Recent Hang Seng Technology retraces have provided numerous opportunities to purchase tech stocks, especially tycoon stock Tencent Holding. Stock price is holding steady around the support trend line, and I am aiming for a rebound. TP and SL labelled.
Long
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MeituanMeituan in my opinion. Steady trend line going up. Even if there is a possible H&S, I am aiming for AT LEAST 380 level. SL 240.
Long
GEELY AUTO NEXT MOVEAn unknown friend asked me to put a chart on 'GEELY AUTO'
I can read any chart using NEO wave technique and able to plot the next move with timing.
Most important is I refuse to use any indicators rather HATE all kind of nonsense which will not give you any FORECAST.
ENJOY trade well
SELVAM.B.
Engineer ,,Trader,,,Analyst
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Long Xiaomi for short termIchimoku cloud is still in green, on upwards trend.
Stoch RSI still in the safe zone. And finally Fibonacci Retracement marks a reversal time.
Long
Breaking above triangle with slightly higher volBreaking above triangle on last few days of slightly high volume.
Long
Eyeing up BYD againOne of my favourite stocks, BYD, has corrected quite sharply due to a pullback in China stocks due to stimulus ending - over 40% from the top. I believe we are forming at least an interim bottom and now's a good time to add to the position. BYD is a profitable electric car company with huge potential which is still valued far less than the likes of TESLA. It should continue to ride the EV wave as soon as the correction in Chinese stocks are finished. Unless of course, the wider market experience
Long
1357 Meitu Head and shoulders buying opportunityBuy in the red box with a stop loss of 1,34 and targets of 7,5 and the resistance lines to scale out of your position
Long
3319 A-Living Elliott wave & flag and pole buy opportunityBuy limit at 25,2-24,05. Take half profit at flag and pole target and the rest at the last resistance line.
Long
FXI with less noiseI manually threw alot of the major holdings of FXI on the chart and weighted them together. Posting to track it
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