After last month 500 points up and down daily shake off Phase, Index has now come to the final phase of Elites' top level sell off phase, this month, we should see strong buys towards the resist zones, index will climb strongly towards it almost with no retreat, another 1200 points or more towards the level of 24000, it should drive the retail investors with madness, buying into the market without fear.
One need to watch out towards the mid or the end of Oct. where strong sharp drops could occur, so be careful, it is a month with much alert.
Trading the S/R Zones
Trading Rules: All S/R Zones has power to reverse the trade, but once broken with a closing candle Support zone will become Resist zone, and Resist zone will become Support zone. Only trade when levels in zones are touch for the first time with a 1 hour engulfing candle to confirm the reverse. Do Not chase price, let the price come to the S/R zones before entries. S/R levels between zones can be use as Take Profit or stop lost location.
Yes. retest the zone, so watch out how the candle plays out when it reach the zone.
Timothyman888
⋅
Thanks KaKeung!
WeiliZhang
⋅
Please update when the time comes to pull the trigger to shot.
KaKeungChoi
⋅
sure, but just watch out for that 1 to 4 hour engulfing red when index touches any of those resist zones. that is the major indication. the trouble with me is that I am in UK, and when HSI moves, I often in bed sleeping. lol