The market is still in correction mode in TF Weekly. Instability in Politics will drive the situation worse. Wave 5 will make move after Wave B running FTSEMYX:FBMKLCI
Currently on Phase E wyckoff cycle, doing rally, with solid 15 min/1h structure, volume is still decent, good for long and swing . Could go wrong if * big volume of dumping *Political uncertainty *Others systemic factors
Looking for a solid structure at 1h, would be better if small increasing volume coming in as well. Price at a key level, possible for a "spring" to occur, before flying . A solid uptrend trendline as well, that gives more confluence. Could go wrong if : A support trend line being broken, with high dumping volume Other systemic factors
No huge dumping of shares yet, am expecting Parlo to test recent support before reaching 0.595, we'll see. Am using 1 hour chart to find solid structure. Am using no indicators. * volume is the key Could fail if : *there is a huge dumping of shares *no reversal candle supported with big volumes ( could be reversal or huge retracement ) *no interference of...
Ever since TOPGLOV recorded new high at RM29.30, gloves counter has experienced a big selloff which rebounded back and created a lower high. Thus, I believe it has created a wave correction and heading to RM20 before flying to another ALL TIME HIGH. :) As you all can see, AmInvestment Bank has downgraded gloves sector. The negative article in Bloomberg which...
FBMKLCI is closed at a new 7-month (2020) high at 1,611.42 However, the price is making a higher high (HH), but the Relative Strength Index is making a lower high (LH). This indicates the current market action is losing its momentum and weakening, meaning it could soon change direction.
Kemaskini KLCI : KLCI kini sudah jelas membuat pergerakkan 5 gelombang naik. Ini boleh jadi satu petanda awal bahawa KLCI sudah berjaya keluar dari bear market. Secara kasar kelihatan pergerakkan 5 gelombang naik ini sudah lengkap, dan kini kita menantikan pergerakkan 3 gelombang kejatuhan yang bersifat korektif untuk berlaku pada bila bila masa sahaja. Buat...
Possible outbreak on Vizione, price reach Uptrend Tunnel bottom strong support at 0.405 Entry price : 0.43 1st TP : 0.5 2nd TP : 0.54 Cut Loss at : 0.4
For next week, we might see KLSE move slight high to 1620, but the momentum is declining, a fake up movement. Most probably to see a pullback to 1488 next 2 weeks.
Based on the chart pattern available and my best knowledge on applying Elliott Wave Principle, I'm currently seeing FBMKLCI undergoing its first big major bear market. Based on currently available information, the 1998 financial crisis decline is best counted as A-B-C decline correction, and the subsequent rally from 1998 bottom to 2018 top is best intepreted as a...