Stocks in SET50 weakening soon?During my preparation for TA class on cycle analysis, I came across this chart. It shows ratio analysis of SET50/SET in a 3-day time frame. The chart demonstrates clear sign of repeating pattern, denoted by number 1 to 8.
This technique is called "Analysis of Repeating Cycle", developed by Khun Anan Thantuvanit, one of the renowned Thai technical analyst. It is based on fractal mathematics and chaos theory.
The chart suggests that stocks in SET50 would reach their upside limit soon (5), and that they would be ideal targets for sell-offs. In this view, the money would then be distributed into smaller stocks in SET for the latter course of the repeating pattern (6-8).
SET50 trade ideas
SET50 is have probability to fall a lot.THIS IS JUST MY OPN, SET50 is in the corrective wave, wave c and it is motive term from this analysis presume as normal trending impulse wave. And wave 2 of impulse wave is Irregular Failure Flat or Running Flat may be two of these, but all of these have an affect to super extended of wave 3 a lot.(-a lot mean 2.618 of wave 1-)
Find opportunity to SELL on SET50 4/2/21BUY for consolidation phase:
Price already break 926 with big red candle with the price falling down to 923/920
Buy 923 on small lot (40%) another lot on 920 (60%)
Set TP as 926 for sure is around 927 can close order.
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SELL for Double top pattern:
Set SELL limit on 926 and Set TP/SL 933 (934 for sure)/ 915
RR: 1.7
Wait and see the price action on SET502 Scenarios can occur following:
*UP: If price breakout resistance area lead to bullish flag wait the price retrace at breakout trend line or zone to confirm the order Long
**DOWN: If price did not have volume to break resistance area, price will get retrace to support due to double was formed and already got retrace (CF to Short)
SET50 Long # 1 @ 976.3Grid Trading system
Daily: EMA rising, MACD-H ticked up, Vo is stable, bridge pattern, Trend is up.
1H: Bridge pattern @ EMA 13, EMA 26 is rising, MACD-H ticked up, Vo is stable and decreasing, Go long
ToDo: Buy bridge breakout, no stop, exit at 1000, or short call if premium > cashflow model