Weekly chart is a retracement within an uptrend. The 6th MACD histogram formed ABOVE zero. Weekly ending at 26456.5. Market is tired but cannot declare bearish yet because MACD still has not cross down …

The MA9 crossed up MA16 on 11th June 2019. It triggered Long entry at the open price, 26100, the index hitted our trailing stop 26900 during 31st July 2019. We had closed the Long entry and bagged 800 points profit!

We have another entry during 2nd August 2019. It is because MA9 crossed down below MA16. We triggered a Short at the open price @ 26509, CutLoss 27000, Profit Target 25600.

This entry is risky because we do not have a Weekly chart to confirm the bearishness. The market may rebound and hit out stop loss. However, with the current market sentiment (trade war+lower than expected interests rate cut), it encourage a Short entry even with Weekly MACD confirmation!

Order Status: Long 26100 (11th June 2019), Took Profit 26900.

Order Status: Short 26509 (2nd August 2019), CutLoss 27000, Profit Target 25600.