July06: FKLI(1D) - Midterm ABC Correction to 140x-5x in ProgressMid-term ABC Correction went as expected, see prev post from June15.
June15 - FKLI (1D) - Mid-term Correction towards 140x... 👇🏻👇🏻
Currently, we are in waveB (see: baby blue arrow marker), which may find resistance near R1, 154x-6x.
Declining volume suggests/confirms the correctional-upwave.
I'm positional Short for FKLI, holding thru next potential down-waveC, targeting S3,S4.
Levels to Watch:
R2: ~158x
R1: 154x-6x
Major S1: 147x-149x
S2: 142x-4x
Major S3: 138x-140x
Happy Hunting! 🏹🎯
-jk-
FKLI1!
checking the trend using MA linenormally, I dun use indicator as buying or selling signal...juz use them as tools to check trend...try this one, Moving Average-200 day for checking fkli daily chart...SMA works better, but this one juz fine...
EMA normally goes with lower timeframe....
leave me a message if I were wrong...
look like the bull and bear are still playing "tug-of-war" between them...1514 is the immediate support level where the SMA-200 falls into...
sideway tradingsideway since 3rd June 2020...market more bias to trending to the downside, but as long as the competition of bull and bear has not shown any edge over the other, sideway market will continue...
resistance level : 2380 -2420
support level : 2300 -2320
if you trade trend, this is the time you "die"...either by the untrending pattern or because of boredom...
a trading method called "2618" fkli"2618" means 2 tops or double tops, then follow by retracement back to 618...then usually a downtrend...
of course, this is juz a trading idea, no indication of buying or selling...
strong resistance : 1584-1600
current resistance : 1560
current support : 1500-1520
The economy is in deppression.The down trend predicted continue to slowing down due to OIl price crash, and the simulates of economy at this MCO are very weak. According to Prime Minister, the country losses about RM24 Billion a day. But the Perhatin Rakyat aid helping a little bit in this short time period economy.
Forecast the economy will be a sluggish economic growth. Due to a slow economy progression.
To Malaysian Traders, we can help the simulates of Malaysian economy with our trades and bring back the profits in our country. Together we help economy to grow back, develop where we can. .
FKLI - Short on potential Turning pointFKLI Apr2020
1) Failed to break the strong resistance line 1360 (Orange color Step line)
2) Down arrow arrow appear, have potential continue go down
3) Fibonacci Support 38.2%, 1293 and 50%, 1270
4) Cut Loss, above 1368
(Disclaimer: for demonstrate planned trade for education purpose only, not for recommend to buy or sell. Trade at your own risk & consult your future broker's representative before enter trade)