LUXCHEM MARKING UPThis is a typical Re-accumlation Pattern of type #2 Schematic
Yesterday, noticed that there was a Significant Bar (SBar) with a Huge Demand Vol
-wyckofian called it as 'JAC' which is Jump across the creek as mentioned by Bob
With a long Accumulation, the expected projection should be higher
Thus position initated as attached
As always, Anything can happen in market. Risk is no 1 priority
Pure Wyckoff
LUXCHEM trade ideas
<TradeVSA> Building a Strong Re-accumulation - SCANWOLFSign of Strength in the chart:
1. Green Market Stages
2. No major weakness at resistance
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
LUXCHEM selling power decreaseExpecting a rebound from bottom of the uptrend tunnel (if this is the support).
Risk reward ratio = 4
TP = 20%+
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Disclaimer
This information only serves as study references, does not constitute a buy or sell call.
LUXCHEM - Bullish Anticipation If Trendline Rebounce Success
Please consider your own interpretation of Opportunity & Risk:
NO BUY CALLS OR INVESTMENT ADVISED ARE PROVIDED.
DISCLAIMER: This analysis is for reference and learning purposes only. It is based on my personal view in the market from a technical analysis standpoint. None of information posted in this chart can be used as investment decisions or investment advises to any parties. Do not trade solely on the information posted in this page. Trade at your own risk and judgement. A trader could potentially lose all money. Only risk capital that can be lost without jeopardizing ones financial security of lifestyle. Please seek licensed professional guidance if you plan to invest your capital seriously.
PENAFIAN: Analysis ini hanyalah untuk tujuan rujukkan dan pembelajaran sahaja dan bukan cadangan untuk membeli atau menjual stok atau apa jua jenis instrumen kewangan. Anda dinasihatkan untuk menghubungi remieser / dealer / bank pelaburan yang mempunyai lesen atau kelayakan yang sah untuk bertanyakan pendapat dan menguruskan pelaburan anda. Pelaburan dan perdagangan mempunyai risiko tinggi, dan ianya adalah Risiko Anda Sendiri.
LUXCHEM 22/06/2020*22 June Technical Idea*
LUXCHEM CORPORATION BHD (Stock code: 5143)
After new high created in 1st Jun with huge volume, we see that share price drop back to demand zone, long bias.
we see that share price react at zone last trading day and form revert candle pattern today, entry signal.
we are waiting share price break 0.755 last high for a solid confirmation.
if share price can break last high, we are confidence it will try to test 0.880 level,
if share price drop below 0.665 which break the support we will consider share price will will drop to 0.615 level to find it base.
*Risk: Moderate Risk*
*TP1: RM0.880*
*TP2: RM1.00*
*SL1: RM0.665*
*SL2: RM0.615*
*Risk Return Ratio:1.39x*
Strategy:
1)This was a limit trade to wait the momentum and buy flow come.
2)Aggressive trade can follow the momentum to break resistance
CASE STUDY : LUXCHEM Buy on DipSharing the usage of Turtle System Trade using 3 indicators FiFT, ATOM and TURTLE (FAT)
Luxchem alert the following 3 conditions..
Turtle : Uptrend, Bullish and Fast Turtle Buy
FiFT : BoD Star +ve FiFT (Strong Bull near support)
ATOM : Bull is trending.
This is 1 of the best setup using 3 indicators. If met FAT rules, your profit also FAT FAT
