FTSE China 50 Index Forecast with Sell Opportunity – 7th Jan 2019
For the first time, we will start to cover Indices around the world whenever there is time. We want to take a look at China 50 Index. Most Forex Brokers will have index available for trading. The China 50 Index has been on a down trend since May 2018 and prices has been trending downwards for 6 months now. With the on-going US Trade wars, things are not looking good for China 50 Index. So what can we do with this index? We trade with the trend and we look for short opportunities.
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So here’s our trade idea for this China 50 Index. We wait for the pull back into resistance level and then we short. In order to
- Sell Limit Order: 10829.0
- Stop loss: 11200.0
- Take Profit: 10300.0
Since this is one the Daily Time Frame, we wait could be for several days or maybe even weeks if we ever get filled on this trade. We will just have to wait for the market to come to us instead of chasing after it.
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