Wong Engineering _retracement before bounce backWong expected to retrace in the short term before continue LONG journey. Fundamental BUY.
Note: This is not a Financial advise.
Bursamalaysia
FTSE for next week 06 September to 10 SeptemberThe rising of the ftse has ended this weekend, therefore next week may enter into Retracement period. It may take one week or with two week to complete the retracement, then might rise again.
The reason of the prediction is because if we look into week trend, the new higher point is just about to start. This give us credible basis to believe that the trend will rise further in the future.
If next week break through 1557, the trend may drop further but small probability . If rebounce, may look forward to 1642 as the new high point for next two week.
Therefore the suggestion is, observe the trend until it reach 1557, then wait for the rebouce or break through. But, there is more chance to rise in the future if you refer to the week trend of FTSE.
All the prediction above just assumption, and it is not an advise to purchase or sell the share, please be responsible to your own trade behaviour.
Hope all of you may earn more money and be a rich man/woman.
Idea of the FTSE trend for 30/08 - 03/09We have a nice week at 23/08 to 27/08, however we have to prepare for the retracement in future. It might be a big retracement day before National Day, after that might start to drop. Simple analysis as my main analysis is Hang Seng Index, but the whole week may be a bearish trend
FCPO 27 August 2021 : Inside Bar1. yesterday's price breakout the resistance.
2. Today price retests the support again.
3. 5min have formed INSIDE BAR near yesterday resistance.
4. EMA uptrend
How to trade?
1. Buy at the low inside bar
2. Wait for a breakout for either side for entry.
MYX: VELESTO. Time to upclimbing?Fundamentally,
1. on August 25, 2021 QR was released with Net profit 207% (YoY) & 127% (QoQ)
2. Institutional purchase of shares on August 17, 2021.
3. Current crude oil trending.
Technically,
1. inside uptrend channel, wave b just completed and expected to hit wave c till 23sen.
As always, TAYOR !
regards
Abenoor
Disclaimer: No trading strategy provided here. Our content is intended to be used and must be used for technical analysis & education purposes only.
Bursa Technology Index predicts to Rally if able to break ATHBursa Tech Index shown a good example of compliance to Fibo Extension.
2nd High/ATH is at Fibo extension of 1.618 and retrace to Lower High. this HL is well supported (2x double bottom)
If the index break 93.9 (ATH) - Technology Index and its counters should rally together with Bursa Index.
Observer the STO cross, which shows an early rally indicator.
MYX: HIAPTEK - Uptrend Continues ?This is purely technical analysis. Repeating wave pattern is in progress. Wave E may last at 93sen. TAYOR.
Abenoor
FCPO 23 August 2021 : False Breakout1. False breakout when price opens below previous day support and immediately close back inside the range without rejection.
2. Entry when price close inside the zone.
3. Or entry during pullback rejection.
4. Usually fake breakouts produce large movements. the daily range for FCPO almost 100~130 ticks.
FBMKLCI In a Downward ChannelFBMKLCI in a downward channel. With the formation of new government, will it be able to improve the sentiment against Malaysian stock market ?
Mobilia Re-entry BUY After the breakout, price pullback for entry.
Simple SnR rule.
For entry - wait for 1Day CS close bull, entry on the next day CS.
For exit stoploss - close position if price closes below the bull candle.
Target profit - opening price CS @ fibo 1.618
FCPO 19 August 2021 : In rangeTrend bias to downtrend.
Consolidation phase..
1. Yesterday's price failed to break the support.
2. Today price failed to break resistance.
3. 15min rejection + 5min CS confirmation false breakout.
Trade in the range..
FCPO 18 August 202115min chart price break previous day low indicates a downtrend.
New day price is open inside the range.
GLOTEC Pullback Entry1. Retest RbS
2. Stoch oversold
3. Retest EMA50
4.Fibo retracement 0.5~0.618.
5. Making series of HH and HL for an uptrend.
1st TP 20%
2nd TP 40%
Risk 20%
FCPO Identify Fake Breakout and How to Trade it?When the price is near the SnR it is where get it will get tricky...either the price want to continue the trend or reverse?
The false breakout strategy :
1. Timeframe 15min
2. Identify strong valid SnR
3. Draw the zone by pick the wick and the neck.
4. If price breakout and 2nd CS close inside the zone, it is a false breakout and entry position after 2nd CS close.
5. TP for the false breakout can be the opposite SnR.
Valid breakout strategy: Trend continuation
1. Use 15min and 1min chart for confirmation.
IREKA Pullback or Reaccumulation1. Uptrend market structure still valid
2. Stoch oversold
3. Healthy trend. Price test EMA50
4. Fibo retracement 31.8
Possible re-accumulation before price can break above Wave 3 resistance. 12 ~25% market range.
FCPO 17 August 2021Yesterday's price was still in the range. Testing support multiple times.
1.Today price open break yesterday resistance.
2.All EMA uptrend
3.Stoch oversold
However, the Stop loss is too large to take.
Wait for another setup with a good risk and reward ratio.
FCPO 16 August 2021New contract..
Price seems like trade in the range.
Approaching Gann box cycle level 1.0.
Lets see if price able to break above resistance.
Recap FCPO 13 August 20211. The major trend market structure is an uptrend.
2. Early morning session continues from previous day give us short term trade for downtrend move.
3. Once the downtrend market structure is broken, prepare to find the long entry opportunity
4. There is 2 type of entry. Risky and safe entry.
5. Risky entry when EMA14 + EMA50 still below EMA200 while price successfully break EMA200
6. Safe entry when all EMA align for uptrend movement.
MOBILIA - Breakout with no overhead resistanceOn 9/8/2021, MOBILIA broke out 0.540 with significantly higher volume than previous 14 trading days. Before the breakout, a few good signs are shown; firstly, the price volatility. Price became less and less volatile (contraction in price spread). Secondly, the volume contracted as well. The volume and price spread contract since volume surged on 23/7/21 (starting of base formation). I have seen multiple big winners in Bursa Malaysia, they all possess the same characteristics; big volume surge in the beginning of base formation, price and volume contract during base formation, high/significantly high volume during breakout at the end of base. Keep in mind, this is a new stock in bursa, hence no overhead resistance. One may say, heavy supply (heavy selling) may occur at 0.65 and 0.760 because those are the opening and highest during IPO, but in my opinion, buyers at that price already being wiped out 1st day after the IPO. No risk of heavy selling would occur soon in my opinion. Some may say, it will be in downtrend. I disagree because, looking at weekly chart, week 26/7 and 2/8 showed less participation in market (low volume). Looking at previous weeks, for this stock, in my opinion, next 2 weeks, the weekly closing price would be higher than previous weeks. One may look for quick 30-40% increase from the 0.53 price level, or maybe, can park a few hundreds ringgits for a long stretch goal of 100-200%. Remember, no overhead resistance, basically a virgin area on top. No one is there, no one is waiting to sell up there. Since people love to compare against MAs, here we go. On daily chart, last 3 days closing price is not improving, but the closing is above EMA10, EMA20, MA50, MA150, and MA200. EMA10/20 is above MA50, MA50 is above MA150 & MA200. MA150 is above MA200. Above EMA10/20, and EMA10/20 above MA50 shows that, this can be considered for quick profits (1-2 weeks). MA50 above MA150 and MA200 shows that medium term (4-8 weeks). MA50 above MA150 and MA200 is similar to Mark Minervini's approach. Price above MA150 and MA200 shows that, even for long term (more than 2 months), this stock is also can be considered. Putting Stan Weinstein approach of using RS, looking at how this stock performing against KLSE index, in daily chart, RS level is showing uptrends. Another indicator to show this stock is must buy can be held very long.
I wrote a lot here, but basically, looking at price spread, price pattern, volume pattern, MAs, and RS, all are screaming; this stock is a must buy, can be held in long term.
Thank you for reading, good luck, and trade at your own risk (TAYOR).
P/S: My trading method is adapted based from Livermore, Minervini, and Weistein's approach. It's not a perfect approach, but it suits my style and my timing. Batting average is 47% now. Nonetheless, I strongly recommend you to read trading books and form your own trading method, regardless on how it's being based from. One thing that I learn, price pattern, MA, and volume; all great traders only used these 3 things. Works well for me! Good luck guys!
Trend Rider 231. Weekly uptrend EMA 10> EMA 30 > EMA 200. Start to make WAve 1 after correction?
2. H4 now in Wave 4, where reversal signal (hammer then bullish candle) spotted at 0.382 Fibo level. Also an RBS.
3. Isaham score 13.3 WAFV RM8.84, i3 ATP RM10.03
Trend Rider 221. Weekly in uptrend EMA 10 >EMA30 >EMA 200.
2. In H4 starting to form Wave 4 with reversal at 0.618 level. Bullish engulfing candle formed. Above EMA 200.
3. Good FA, Bursa Marketplace rating 9 CTP RM8.02, Isaham 13.1, Fair Value RM10.4, i3 ATP RM8.32.
Time Cycle and Gann Box for FCPOTime cycle and Gann box to predict the market movement hence easy to make the decision.
We use 15min TF as our major time frame.
Time cycle draws by choosing double top/bottom.
Gann Box draw align with the time cycle for each level.
For current market trend, its follow the current cycle time. It might be changing in the future.
