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Some years ago, I have seriously consider investing in Malaysia properties as part of my retirement plan and/or weekend get away. I am glad I did not commit as I discovered I had not study enough the market. I thanks my procrastination in this instance else I would be suffering huge losses.
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2 Types of Chart Pattern are Continuation Pattern and Reversal Pattern as show in the chart.
1. Symmetrical Triangle
1. Ending Diagonal
2. Expanding Diagonal (Broadening)
For best practices, draw channel and then adjust the 2nd line to confirm either triangle or diagonal.
Example Up trend :...
Due to Malaysia have decide to run back a total lock down, only some economy areas are open to support sustain the economy. But the inflation and other demands are insisting the economy to fall back in the bearish trend.
Luckily the Malaysian government have make an exit recovery plan, and perhaps all it will work soon.. or the economy impact will be in the bad...
Due to this longer pandemic, no body will know until when this will last. Malaysian government, is very caution for the economy. Total lock down will make economy more worsen , and hard to awakening. The pattern is likely to challenge all the supports, but if there is a high demand of economy ... perhaps the trend will obey the uptrend channel.
Detailed Elliott Wave Count for Malaysia's KLSE index since its inception.
Once Primary Wave 5 is in - we'll probably head into recession, though that's still a long way to go; probably at least a decade.
Upon completed Wave B of Bear, Wave C is in progress.
Current outlook : Bull in short term.
Market might rebound to 1600 range before drops till 890 to complete the recession/deflation cycle which is a hard reset for business...