Hang Seng Setups

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Looking for turnarounds or pivot points at the rectangles which are projected potential support and resistance zones. Preferred Japanese Candlesticks Patterns for potential pivot points are Harami and Engulfing patterns, but others will be taken into consideration.

Icons are potential price predictions which don't require a pivot point specifically at a rectangle in order to be taken into consideration as a target for a trade from a candlestick pattern that could signal a turnaround.

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Potential pivot point at the marked price level.

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Pivot point confirmed

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First pivot point at one of the shapes.

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The main purpose of this idea was to hunt for turnarounds/ pivot points at the shapes. The bearish engulfing at the rectangle was very good positioned, making it look like more than just randomness. Main question would be now if the price will ever meet any of the rectangles again, especially the green long one, or others. The grey dot is still in sight for a potential price prediction in time, but for any such scenario a hanging pivot point (not at a shape) must occur. The white rectangles in this snapshot provide examples of a hanging pivot point and other pivot points at elements from the initial setup. If the price slides down, never coming back to the elements, it would make the signal at the purple rectangle even better for the high risk/reward ratio.

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Bears might be looking to cash in here after that Harami and a potential Belt-Hold line.

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The initially marked white price level turned out to be a relevant one. The harami at the end of the bear wave which was mentioned in the previous comment is also highlighted in this snapshot.

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A small decent pivot point at the time stamp of the Red Dot.

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A break, a retest and a bounce at the marked price level. We could be approaching the green rectangle. This project has been a little bit deceptive, but I can still envision some interesting phenomenons/occurrences at the shapes. Maybe even a hit on the Grey Dot Icon on 2 November.

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Some resistance encountered at the green rectangle, but this is not necessarily a sign of big weakness in the overall bull move. Important elements in this area are the marked price level of support below and the pink/purple rectangle above as resistance. Also the light blue time stamp can become relevant in the future for a potential pivot point.

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Pivot point confirmed at the green rectangle. Let's see if it is a small one.

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Rebound from the marked price level.

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Is there room for another pivot point at any of the elements in this project?

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Not sure if this is going to hit the grey target icon but the overall reversal starting after the time stamp of the recycle icon above, has proven to be significant.

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The target icon was a miss but not by much. Reversal not at, but a little bit above the marked price level. Project incomplete. Waiting for more price action at what is left.