Price action and chart pattern trading setup
> Global pattern bullish complex inversed head & shoulders pattern breakout
> Local bull flag breakout EMA200 dynamic resistance with strong bullish candle - a possible ABC bullish wave targeting new wave 1
> Support pullback entry level : EMA200 zone
> Target 2X bull flag pattern @ 0.786 - 1.272 fibonanci extension...
*NO fundamental analysis*
My bias is on a long side for PTTGC, a stock in SET.
Technically, the LH and the main trend line is broken. It implies that bearishness has shifted out from the market. It is a better try to buy, but we need to be patient for the throw back to demand zone.
The RSI is getting hotter which significantly shows bullishness in this stock.
I apply chart pattern (Inverted H&S) together with WTZ2, my favorite setup for trading strategy of this stock. In addition, if finding their financial statement, you will not doubt to entry. Once again, don't forget to calculate your risks well before trading. Good Luck!
PTTGC with H&S Pattern and WTZ2. I wait for AO signal for confirmation on the next bar. If the next bar can break out the entry level, it's interesting. If the next bar break out with gap, it's more interesting. Good Luck!
This is good opportunity! In Timeframe 1 Week : I founded Bullish divergence
And I check TF : 1D This is first Lower Low in 61.8 Fibo and order in demand Zone
Price action and chart pattern trading
> ABC correction wave 2 is around the corner within the zone 0.5 retracement of wave I.
> The current wave C extended 1.213 of wave A
> Upcoming Elliott Channel breakout to confirm end of downtrend correction
> Long Entry @ Channel breakout near SMA50 zone
> Short-term target at SMA200 / Volume Profile Point of Control
>...
PTTGC | Thailand SET Index | Petro Sector
> Estimated target downtrend with Falling Wedge Reversal Chart Pattern
> Multiple BOTTOM signal
> CCI | MACD | RSI divergent signal continued
> Buy signal - wait for confirmed breakout pattern before entering
THAILAND SET: PETROCHEMICAL SECTOR | PTTGC
CURRENT PRICE: 64.50
BREAK OUT VOLUME POINT OF CONTROL: 63.00 and previous high
Reasonably good buy position for speculative TARGET PRICE 1 @ 67.50 (5.4%) at mini Wave 5 position.
Stop Loss: 63.00 (current POC)
>Strong Foreign fund flow (NVDR) - hit the highest daily chart at +450 mil baht / day
>Strong Banker fund...
