Hang Seng Index to rise further? ๐ ( China ends quarantine )
Hello, good day traders! ๐๐ค
I'm currently in a buy๐ setup for $HSI(HSI)$ , with both fundamental and technical indicators to back it up.
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๐ฐFundamentally,
- China says it will end quarantine for inbound travelers on January 8, signaling the end of the country's nearly three-year-old zero-Covid policy.
- According to health officials, the country also downgraded Covid from its current top-level Category A to a less stringent Category B.
โ
๐คOn the technical front,
1.) Looking at the H4 chart, I have a bullish bias for HSI with price above the Ichimoku cloud, indicating a bullish market. I am looking for a possible buy stop entry at 19926.48, where the recent highs are located.
2.) My stop loss will be at 18885.20, where the 20% Fibonacci line and recent low are located.
3.) I am looking to take profit at 22423.51, where the previous swing highs are located.
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Trade Entry recommendations:
Buy Entry: 19926.48๐
Take Profit: 22423.51 ๐ฒ
Stop Loss: 18885.20โ
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Other tickers to recommend:
For 5x Long Leverage: $HSI 5xLongSG230420(CWAW.SI)$
For 5x Short Leverage: $HSI 7xShortSG230920(CZBW.SI)$
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