HSI1! 2022 JAN 17 Week
Last week scenario 1 played out - HS exited trend line,
breakout was tested and now price is at a previous
supply zone. (24391 and HTF brown dashed trend line)
Possible scenarios are mapped out
1) Break of 24391 and resistance becomes support
2) Pullback below 24391 to test for supply before
continuing on the uptrend
3) Do note the possibility of a formation of a larger
rotation area 24391 - 22663,of which testing of the
bottom of the range will not be a surprise.
Daily: Average volume down bar closing off low =
demand is present. Next bar should close higher
in order for strength to continue.
H4: Weak closes may see price heading lower
temporarily, leading to scenario2.
Entry will be based off the price reaction to these levels
Short on Test and Reject) | Long on Test and Accept
Have a sane trading week for Hang Seng : )
