KLSE trade ideas
FBMKLCI - Major Correction Since July 2018 Extreme HighFBMKLCI.. long term view doesn't looks good..recent high from march 2020 till today looks like a correction move wave X from the main downtrend move since July 2014..my forecast for long term move, our klci will continue downtrend to complete wave Y at around 1200 points as long as price didn't break previous extreme high wave B at 1900.
KLSE in a caution trade.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.
Traditional|FBMKLCI|Long and shortLong and short FBMKLCI
Activation of the transaction only when the blue zone is fixed/broken.
The author recommends the use of anchoring fixed the blue zone, this variation is less risky.
If there is increased volatility in the market and the price is held for more than 2-3 minutes behind the activation zone after the breakdown, then the activation of the idea occurs at the prices behind the activation zone.
Working out the support and resistance levels of the consolidation zone.
* Possible closing of a trade before reaching the take/stop zone. The author can close the deal for subjective reasons, this does not completely cancel the idea and is not a call to the same action, you can continue working out the idea according to your data, but without the support of the author.
+ ! - zone highlighted by the ellipse is a zone of increased resistance, in this area there is a possible reversal for a correction, please take this factor into account in this transaction.
The "forecast" tool is used for more noticeable display of % (for the place of the usual % scale) of the price change, I do not put the date and time of the transaction, only %.
The breakdown of the upper blue zone - long.
Breakdown of the lower blue zone - short.
Working out the stop when the price returns to the level after activation + fixing in the red zone.
Blue zones - activation zones.
Green zone - take zone.
Red zone - stop zone.
Orange arrows indicate the direction of the take.
Red arrows indicate the direction of the stop.
Priority - The value of the priority parameter implies the author's subjective opinion about the more likely activation zone on this idea, this does not mean that this idea will be 80% activated by this parameter, the purpose of the parameter is to provide for the risk of the inverse of the zone parameter.
Example: "Priority Long: So the author inclines more in the direction of the activation zone open long trades, in this case, when reaching the activation zone in short you should be very careful, because this area may be highly likely to be punched about the breakdown/do not get to take/activate transaction from go to stop."
Please consider this parameter if you use my ideas.
SUM PNL: This parameter displays the total % of all closed ideas of the "new" format (according to the author) for this sector at the time of publication of the idea. The calculation is very "clumsy" just the sum of the profits of all the ideas, based on this indicator, you can more accurately assess the risks when working with my ideas of this sector. I present you the construction of the idea, you can use it yourself as you like based on your subjective view and risks, the calculation of the PNL indicator is carried out only on transactions that the author closed on TV in manual mode or by take.
P.S Please use RM (risk management) and MM (money management) if you decide to use my ideas, there will always be unprofitable ideas, this will definitely happen, the goal of the system is that there will be more profitable ideas at a distance.
KLCI forming bottom Following my last post, that KLCI retraced on 33% on the daily chart, (refer to my last post on KLCI), it seems that on March 26, KLCI retraced at 33% on the hourly chart as well.
KLCI rallied on at the last hour, pretty much the same as SPX which rallied on the last 2 hours on March 26.
Expecting the general markets to go up from here
Weekly FMBKLCI Index reviewWeekly chart breaking off the trendline and gap up this week. Good sign but however a long logi leaving a concern that pull back is expected.
For time being we can set 1600 as the support line. As long as this 1600 support can sustain, overall uptrend pattern is still valid.
#JeremyTrendingStock
FBMKLCI Elliot analysisFrom the daily chart we can assume that the candle already break the major support. The conformation will be tomorrow candle, to see if they can come back from the support. If the klci can't came back from support it will be continue zigzag on arrow that i have been located. The completion is under Y on 0.5 or 0.618 of wave 2.