NYLEX 8/6/2023This is not a buy call!
seems like strong uptrend for MYX:NYLEX
New breakout (BD)
EP : 0515/0510
CL : 0455/0460
TP: 0550 (CAN STAY IF STILL UPTREND)
BD :Yes
Daily Uptrend
Weekly Uptrend
Waiting Period : 20 days
NYLEX trade ideas
NYLEX (BURSA WK42 2021)After a long consolidation since May till Sept, price was started boost up at 15 of Sept.
Stage 1 is completed, and Stage 2 - Uptrend is on going.
A trade reversal retracement at 14 Oct and 15 Oct is a confirmation day. Bullish candle with volume (1.2x average volume), Stochastic golden cross at 30.
Initial stop loss at 1.10 recent lower level. Target profit 1.35~1.40 with 2R if can cross up resistance line at 1.26
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Beautiful set up for NYLEX BHDIntact uptrend with proper cup and handle set up.
Banker Chips piling up on Wednesday and we notice minor contracting volume on Friday.
Good sign that Banker may churning off unstable retailers before strong rally.
MAny signs show that big boys already very heavily involved in this counter and we expect strong rally happen next week given that market sentiment keep in status quo.
Entry: RM0.91~RM0.95
TP: RM1.10
Cut loss: RM0.85
NYLEX - UpdatedMy view on this counter.. Following recent bull run, price start to retrace and now making sideway (indecision) whether to continue to drop or moving up. But i am expecting price to continue to drop as key level located at below. The first one is at swap base which is strong level to buy and also there is one more level which is final move if price break this swap base level.
SL as per chart. TP @ sell zone.. Need to break this level to continue to move higher.
