China A50 Index: Trading Opportunity
Published On: 23 June 2023, 9.05 AM | Jun Yuan Kwong, Dealer
Trade Set-up:
- China A50 Index had been in a downward channel and is approaching the support at the middle of the channel.
Trade Execution:
- Bear can take an entry when it break down the middle support of the downtrend channel with a stop-loss order slightly above the top of the channel of 12,900.
- Bear can exit and take profits at the bottom of the channel near 11,860.
- However, Bull can place a trade when a bullish candlestick is form at the middle support of the downtrend channel with a stop-loss when it break the recent low of 12,250.
- Bull can exit and take profits at the top of the channel near 12,820.
