the movement is kinda worrying but lets see what we got this week :)
NB: DO MIND that These analyses I posted here are intended as my notes and not as investment recommendations or as financial advice! Please also note that you are always responsible for your own investments when trading on the stock exchange! The analyses are only based on my opinion and view....
Last week:
The price rejected 61% FIB area (61% was my target based on the 50-23-61 pattern).
The was a slight Gap formed on august 5th.
The Gap and 50% FIB as nearby support and 61% FIB as nearby resistance.
indicators:
RSI seems to be at around its previous resistance (BLUE horizontal line)
stochastic bullish at the overbought area
MACD bullish period after...
From the given chart, it can be seen that the E.W uptrend channel(green channel) which I drew months ago and followed by a correction downtrend channel(red channel) are still relevant.
Taking a closer look at the uptrend channel, we can see that the price is riding it nicely after it touched the lower area of the channel several times. SO, this can be used as a...
**Market Action DIscount Everything**
I got an idea based on price action analysis that JKSE (IHSG) would still maintain their bullish biases (momentum). We would see that the market formed a falling wedge pattern from 21st Jan of this year 'till this time, indicating that this market would make a continuation on their bullish trend. This signal was also...
Although we can see that from the chart the price is at resistance area (downtrend channel), actually the indicators all look really good.
RSI above > 50
Stochastic Golden Cross
MACD Golden cross and above the zero line
So, the target @ 62xx is still plausible.
NB: These analyses are not intended as investment recommendations or as financial advice! Please...
Stock Market Bull Run Begin Next Year?
Bottoms could be ugly but it is a true blessing, similar structure V shape recovery and then a multi year bull run.
It can be seen that from the chart, the price is in a sideways position ranging from FIB 23 (SUpport) to FIB 50 (Resistance). Also, in between of them, there are Fibonacci clusters (green area/line in the chart).
To conclude. Previous Idea supports and resistances are still holding. So, I should still put my target up to JKSE 6200 or FIB 61.
On the weekly chart of JKSE we can see a corrective movement that indicating an early form of Falling Wedge pattern. However the pattern has not finished yet.
Based on Time-Analysis I expect the last swing low of the corrective movement would be occurred around Sept 2021 and whenever I see an early signal on daily timeframe I have no hesitation to start buying...
Waiting for when the correction is done.
NB: DO MIND that These analyses I posted here are intended as my notes and not as investment recommendations or as financial advice! Please also note that you are always responsible for your own investments when trading on the stock exchange! The analyses are only based on my opinion and view. LETS CUANN!!!
