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This website here uses powerful charting software AmiBroker for charting and indicators.
Picture Worth a Thousand Words
Many of the answer is the additional lines and comments on the chart. See chart for more information.
Hong Kong ^HSI Hang Seng Index Analysis
There are number of trading strategy, reversal trading is one of the common strategy. In other words, traders are looking to trade the top or bottom.
For Hang Seng Index, Hong Kong stock market index, you have missed the top. So, you are now looking for bottom. Is it bottom already. Now remember, in finance market any policy will not just change, many of the policy will stay for a few months or years. In other worth, when the market trend, it will not just reverse. But the finance market will have the so called correction. Or we call it pull back or retracement.
H M Gartley in May 1935 published a 446 pages book title Profits in the Stock Market discussed a chart pattern is now know as a reversal strategy, Gartley 222 Reversal Chart pattern.
Always wait for the chart pattern to complete, for example wait for three candlestick to complete a mountain or valley be for connection the top or bottom. So, the current chart bearish candlestick has not done yet. The divergence drawn is premature, be aware.
A note, the Asia market is bearish today, bearish is not bad for some traders. Please check out most of the key stock on August 12.
August 12, 2015 Hong Kong Hang Seng Index ^HSI
Thank you for visiting the website. Have fun!
Moses
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