After tapped daily supply at around 6500, it should retrace as this denotes healthy for IDX to have upward movement
This may be how this will play out in my opinion
Retracement to the range of 5717 - 5750 is expected before upward movement. Several data to support the confluences:
- It represents the level of 1H previous supply that has been broken and now act as "S/R flip"
- Green box denotes breaker on 4 HR timeframe
- Concurrent with EMA100 on daily timeframe + EMA200 on 4 HR Timeframe
- Also, on weekly timeframe, we could see EMA20 around that zone
Conclusion : 5717-5750 on first week of february
The next move has been plotted on the chart based on my opinion
Disc on
This may be how this will play out in my opinion
Retracement to the range of 5717 - 5750 is expected before upward movement. Several data to support the confluences:
- It represents the level of 1H previous supply that has been broken and now act as "S/R flip"
- Green box denotes breaker on 4 HR timeframe
- Concurrent with EMA100 on daily timeframe + EMA200 on 4 HR Timeframe
- Also, on weekly timeframe, we could see EMA20 around that zone
Conclusion : 5717-5750 on first week of february
The next move has been plotted on the chart based on my opinion
Disc on
Comment:
LONGING 6600 then retracement