Scenario 1: We have seen 5 waves already and are now in a wave B triangle with another 5 waves down to come. Target S1 for -17%
Support: The triangle is clearly corrective, within the triangle waves A and B have almost completed, with wave C to come. If this scenario is in play I would look to enter a short somewhere around the 0.618 fib retracement - or around there somewhere. If anyone knows of any Indonesian brokers that allow shorting please let me know in the comments.
Scenario 2: My labelling isn't correct and we have have an extended 3rd wave and this is a wave 4 triangle. Target for this scenario is marked by S2.
Support: If scenario 2 unfolds it shouldn't go above the red line (wave 1 price extreme).
Scenario 3: The price drop labelled waves 1 - 5 is actually a double and we are about to head for the upper trend-line again.
Support: Not much really, but it could happen. The triangle correction tends to point towards one of the other two scenarios.
If anyone has info please DM me. Thanks, at the moment I am not trading the JKSE45. This is published for educational purposes only.