Get started

Jakarta_composite_analysis

Long Hope for IDX Composite (IHSG)**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 confluenced by the order block on 20 Nov 'till 02 Dec 20 that remain a liquidity zone for the price, since we got 2 price rejection on 01 Feb and 20 May on this year. The last but not least, we may see that this market would reach their target price @7000 as their all time high price based on fibonacci external retracement cluster. Short term note: Since we see that the market formed a mini raising wedge pattern on the edge of the faliing wedge, i expect that we gonna get a minor price correction before the market price goes high to the expected target. Regards, Happy Cuan
INDEX:COMPOSITELong
by danandyo
JKT Composite - Alternate CountNo comment really, wave C has a tendency to extend slightly over wave A in this index - not as far as 1.618 but something like 1.2. This would mean the 1:1 target is a safe one (if this alternate count is correct) for -14%. I want to keep an eye on this. Do your own research. I don't have anything against Indonesia (actually it's a lovely place), I have just got side-tracked looking into the general stage of their market. I will have a look at other countries next.
INDEX:COMPOSITEShort
by flyinkiwi10
Jakarta Composite Index end of correction? Hello all, How curious that I now spend my free time looking at charts :) Since going down 18% from its 2018 peak there are signs of a recovery. Either we are somewhere in wave B of and ABC corrective rally or the correction is complete and the index has formed wave 1 and is forming wave 2 over the next couple of weeks. Caution, as wave 2 tends towards a deeper correction - so we may see something around the 0.5 fib retracement or more. If it is an ABC, then this may be followed by another corrective sequence to make a double zig-zag (WXY) or a triple zig-zag or combination (WXYXZ), or by a new impulse move up. If the wave down ends up forming a triangle then that reduces the probability that it a wave 2 and increases the chances that it is a B wave - as leading diagonals / wave 2 triangles are less common than in the B wave. Happy trading - keep an eye on those stops. This is published solely for my own education and to make it easier to monitor the market at key turning points.
INDEX:COMPOSITELong
by flyinkiwi10