HK50 Happy New Year everyone!
1h Chart
From the chart we can see the 1h MACD forming Golden Cross on last 31/12/2024 0900; it was pumped to have a nice closure for 2024 and went for a heavy party.
This morning, as we can see the hangover hits quite severely! The index plunged more than 500bps this morning.
The MACD indicator now is forming Deadcross and in its bearish mode. The KDJ is also in its bearish zone.
Today the index could find support at 19453 and resistance at 19753.
D Chart
Well, we wish we had a crystal ball.
From the D chart, the MACD line crosses the Signal line forming a Deadcross. However, the Signal line is yet to cross below zero although the KDJ is already in its bearish zone.
Do not be swayed by the news, stick to your plan and set your TP/SL.
Do not anticipate and speculate how the markets move, we can only react with Buy,Hold or Sell.
Let's monitor the movement and practice your zentrading strategy.
Happy trading everyone!
Wishing you the best coming to you this 2025!
Let's continue 🧘♂️ Zen-ing with 📙 and 🍵.
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