Thoughts on Tencent?
Hi everyone! I have a setup here for you guys $TENCENT(00700)$
On the H4, with prices moving along the descending trendline and below the ichimoku indicator, we have a bearish bias that prices will drop to sell entry at 297.0 where the pullback support is. Should price break entry structure, we have a bearish bias that price will drop to take profit at 253.0 where the 78.6% fibonacci projection and -27.2% fibonacci expansion are. Alternatively, prices could rise to stop loss at 325.0 where the pullback resistance and 38.2% fibonacci retracement are.
Entry: 297.0[Smile]
Take Profit: 253.0[Miser]
Stop Loss: 325.0[Cry]
$Tencent 5xShortSG230202(DTCW.SI)$
$Tencent 5xLongSG220808(DDLW.SI)$
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Ic [Happy]