micchua

micchua

After a quarter of a century , we may see the strengthening of the Malaysian Ringgit. The completion of a 5 wave pattern implies potential weakness in Dollar against the Ringgit augmented with the possible double top formation. Again, 3rd quarter 2023 to 1st quarter 2024 displayed a triple top with persistent resistance just under 4.8000 also suggest a major...

micchua

It appears wave 2 of wave 5 may be in place at 158.88. A display of a 5 wave pattern suggests an impulse down may take form eventually. A break of the supporting trendline adds pressure to the downside. The downside outlook nullifies with prices moving above 158.88.

micchua

Previous posting of 3 of 3 down is negated because of overlap of minor ii exceeded the start of i. The structure now suggests a probable wave a and wave b are formed and a downswing for wave c. There are other possible outcome from this current structure which is also a possible triangle pattern. if so, then the latest low must not be breached and has bullish...

micchua

Price retreated 0.786% of the entire bull run and confluence with wave C supporting at 0.618 of wave A presents a call for closer scrutiny. The upswing displayed a 5 wave overlapping sequence which can be interpreted as a leading diagonal wave 1. Implication is highly probable bullish. A third attempt breakout above the trendline retreated back under the...

micchua

Update on the previous posting where we saw the corrective up move extended further to 156.75 resistance at o.786% and displayed a probable impulsive down swing which gives rise to a high probable first wave down. Current setting suggests a wave 4 in the making likely towards 151.0 - 151.50 (38.2%). A last leg should pursue for wave 5 .Shall watch for development...

micchua

Looking closer at the smaller structure, it appears very excitably bullish. The upside potential is highly probable. An impulsive push should validate the 3 of 3 of 3. Technical indicators are supportive too.

micchua

Following up on the development, if the count is valid, the exuberant downside thrust should occur fulfilling its fifth way down in its primary degree.

micchua

USDJPY has made its way to a high probable resistant zone where wave a to wave c are equidistant ; the length of wave c is 1.618 that of wave a and at the retracement zone of 0.618 while prices flutter around the trend line.

micchua

Following up on the previous posting where confluences in technical support suggest a high probable bottoming in the longer term. This shorter term display suggests a possible 5 wave sequence up which may be the mother of another bull trend in the making. We can comfortably qualify our risk level here against the potential reward if this is the start of a bull phase.

micchua

A closer observation on the confluences between wave relationship from different points insinuate a high probable topping at 161.95 (see previous posting on the longer- term wave relationship). There is a possibility of a 5 wave completion to the downside and a current corrective upside in play. Interestingly, price breached the supporting trendline to see it...

micchua

Following the earlier posting, this is another possible count which shows the primary wave 4 has just been completed and pending wave 5 with a downside bias in play. Given the display of 3 waves structures, a double or triple zig zag may evolve. We would like the market to express its intention by unfolding in the coming days.

micchua

USDJPY has likely completed its primary bear trend and displayed a corrective 3 wave structure up to end a primary wave a. Following a highly probable wave b down is likely as the initial down swing is taking place currently. The guideline of a retracement to wave four of one lesser degree is also in place supported by a 50% retracement value provides that...

micchua

Further to the pattern of the BAT formation and the objective of the head and shoulder formation stated earlier, we get to see the influence of the Phi numbers clustering which further support a high probable bottoming scenario. The upward curl of the MACD supports the bottoming scenario.

micchua

Interestingly, the wave relationship fitted nicely from 1999 to 2008 where wave 'a' was equal to wave 'c' to form the primary wave A(red). Wave C @ 0.618 of wave A from wave B projects towards 3877 together with other minor clusters in that range suggesting a probable resistive band. A 3-4 year cycle is also present which suggests year 2024 and 2025 likely.

micchua

This contract displayed a 3 wave structure and current fourth panning out an irregular pattern should see upside for wave 5 should price not go below $48 (over lapping wave1). If the $48 is breached, the current move would be seen as a B wave with potential support seen at 45.30 or lower 32.50. Wave c up would eventually follow. What will it be ?? 🤔

micchua

This coking coal chart is appearing to be concluding its final leg down making it attractive as the wave features are conforming. Extension of the final wave c is possible especially the presence of a gap that may be needed to close.

micchua

If 139.13 ended the cycle wave C the likely retracement support may fall into 57.59-60.87 where wave a to c relationship plays out together with the 38.2% retracement; or lower to 46.46-47.15 where we have the 50% mark and the wave a to c in equality. Interestingly, the 2 red horizontal lines demonstrate the idea of it being a support /resistance tracing all the...

micchua

There is a likely 5 wave sequence(hourly) to the upside which should call for more attention and also knowing your risk level. The presence of a positive divergence against MACD gives weight to the possibility of the pending upturn.