HMSP, IDX UPDATE
Updated
The retracement of IDX gives us second opportunity to grab HMSP.
Shown here is a 4 hour timeframe analysis
Several data to support this analysis (based on multiple timeframe)
1. The downside to the level of 1270 close the previous gap seen in 1 Hour TF and now closed.
2. Market structure breaking previous supply zone seen in 4 hr tf and 1d TF happened in May 2020 and now requires a retracement
3. Detecting the level of retracement, I drew fibonacci and found the fibo 0.786 match with 1270.
Having tapped 1270, we could see a major buying power into the stock.
Conclusion
- Set a buy order at the level 1350 as this represents a healthy pullback to a formed breaker
- slowly buying, to wait for the movement that is upside
PUMP IT!
Disc On
Shown here is a 4 hour timeframe analysis
Several data to support this analysis (based on multiple timeframe)
1. The downside to the level of 1270 close the previous gap seen in 1 Hour TF and now closed.
2. Market structure breaking previous supply zone seen in 4 hr tf and 1d TF happened in May 2020 and now requires a retracement
3. Detecting the level of retracement, I drew fibonacci and found the fibo 0.786 match with 1270.
Having tapped 1270, we could see a major buying power into the stock.
Conclusion
- Set a buy order at the level 1350 as this represents a healthy pullback to a formed breaker
- slowly buying, to wait for the movement that is upside
PUMP IT!
Disc On
Note
Get along the train before its too lateNote
nice bounce on 1300, as predicted
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