Hi, My take on AIRASIA
On daily TF, price has recently broken above the resistant line A, then retraced back to retest the line A.
Looking at the down waves of the price (arrow 1, 2 , 3) : Down move no. 2 has higher volume wave (Weiss indicator below) than down move no. 1, but yet it failed to break below the low of the move no. 1 , this may indicate the higher volume is due to buyers entering.
The down move no. 3 now has lower volume than both wave 1 & 3, therefore showing no interest in bringing price lower.
If we see strong up ward buying wave after this, that may indicate bullish change of behaviour and AIRASIA can finally fly higher..
Trade at your own risk, this is just my way of looking at the market..
On daily TF, price has recently broken above the resistant line A, then retraced back to retest the line A.
Looking at the down waves of the price (arrow 1, 2 , 3) : Down move no. 2 has higher volume wave (Weiss indicator below) than down move no. 1, but yet it failed to break below the low of the move no. 1 , this may indicate the higher volume is due to buyers entering.
The down move no. 3 now has lower volume than both wave 1 & 3, therefore showing no interest in bringing price lower.
If we see strong up ward buying wave after this, that may indicate bullish change of behaviour and AIRASIA can finally fly higher..
Trade at your own risk, this is just my way of looking at the market..