Hang Seng Index to rise further? ๐Ÿ“ˆ ( China ends quarantine )

Hello, good day traders! ๐Ÿ‘‹๐Ÿค™

I'm currently in a buy๐Ÿ“ˆ  setup for $HSI(HSI)$ , with both fundamental and technical indicators to back it up.

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๐Ÿ“ฐFundamentally,

  • 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€Œ

๐Ÿค”On 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: 19926.48๐Ÿ“ˆ

Take Profit: 22423.51 ๐Ÿ’ฒ

Stop Loss: 18885.20โŒ

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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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Comment๏ผˆ84๏ผ‰

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  • Shan_shine
    ยท2022-12-28
    Time for HSI to shine in 2023
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  • An Long
    ยท2022-12-28
    [smile] [smile]
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  • TBITrades
    ยท2022-12-28
    probably. but it might still pullback heavily
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  • BettyT
    ยท2022-12-28
    A good read. Thanks
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  • vinH
    ยท2023-01-02
    Thank for sharing
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  • WKB
    ยท2022-12-29
    Sure can go higher
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  • ๆ‹ๆ‹ๅ–ต
    ยท2022-12-29
    [ๅพฎ็ฌ‘]
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  • tradetowin
    ยท2022-12-29
    Excellent.
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  • Klim8898
    ยท2022-12-29
    ok
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  • Fayedea
    ยท2022-12-29
    Great
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  • Annie Lee
    ยท2022-12-28
    ๐Ÿ‘
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  • FooSingFat
    ยท2022-12-28
    OK
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  • meurasian77
    ยท2022-12-28
    ok
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  • TigerEye
    ยท2022-12-28
    cool
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  • AhSong
    ยท2022-12-28
    ๅฅฝ
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  • cowsmile
    ยท2022-12-28
    M
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  • Oldhead
    ยท2022-12-28
    Hopefully.
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  • GordonLee66
    ยท2022-12-28
    Good sharing
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  • DarkFate
    ยท2022-12-28
    Like
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  • CCX888
    ยท2022-12-28
    good
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