Hang Seng Index Falling Wedge Setup with Strength ahead

In the H1 timeframe, Hang Seng Index (HSI) futures broke out from the falling wedge 3 days ago and currently in the backup action phase as a test of the impulsive up move. If it can retrace to the support around 23200 and reverse from there, the up move is expected to be strong. The detail explanation for the falling wedge long setup based on either the reversal or the breakout strategy are outlined in the video below (timestamp starts: 12:08) using S&P 500 futures as a case study:

Below are the key parameters for Hang Seng Index (HSI) potential long setup for trading session on 30 Sep 2020, with a potential reward to risk ratio of 4.

Entry: long stop order at 23200

Stop loss: 23100

Take profit: 23600

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