It has hit our expected TP level yesterday.
If a trader rushed into HSI shorted over the bad situation gets trapped now.
This is how the market works.
I will be waiting for another entry, possibly short at a higher level.
Possibly near 24,250 regions.
Legal Risk Disclosure:
Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors.
The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice.
Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
We are seeing a decent bullish pullback action at this moment.
It is trying to retest important swing levels in my opinion.
24,000 and 24,370 regions will be important resistant zones. Let's the momentum play out.
24,000 and 24,370 regions is indeed acting as resistant as we mention in the previous write up.
It is now meeting some speed bump at the moment as it swung high in the recent days.
If there is any pullback, 23,700 regions will be good support.
Now, 24,300 becomes an important S/R and we need to see how the price behaves from there.
If there is a break down on the level, it shall go lower 23,800-23,750 region first.
The ultimate strong support will be 23,300.
It is playing pretty nice as we expected.
24,250 to 2,4650 shall be a nice resistant region.
They may do a head butt but it is likely to go downhill soon.
So, buckle up Dorothy.