HSI | bearish 1-2-3 reversal pattern

12 May 2020

• the strong red bar that broken the wedge a few days ago signaled the start of 1-2-3 pattern
  
• at point 3 today, it will be an strong engulfing pattern
  
• it is also a false breakout of 1) horizontal resistance, 2) a long-term downward trendline and 3) 50 SMA
  
• I have three indices in mind: NASDAQ > SP500 > HSI, and HSI is always the weakest candidate for short
  
• China's failure to obey trade deal could be the fundamental catalyst for this selloff