Bullish Bias on JSMRIndonesia's owned state company that operate majority of national toll road infrastructure seems to make a continuation rally after made a trend reversal with it's double bottom and their price correction as descending broadening wedge appear. Buy on weakness should be your consideration or try to seek an inside bar to entry with 4990 as it's sweet spot target. Bullish invalidation start if the price goes down and close below 3600
IDX
Long Hope for IDX Composite (IHSG)**Market Action DIscount Everything**
I got an idea based on price action analysis that JKSE (IHSG) would still maintain their bullish biases (momentum). We would see that the market formed a falling wedge pattern from 21st Jan of this year 'till this time, indicating that this market would make a continuation on their bullish trend. This signal was also confluenced by the order block on 20 Nov 'till 02 Dec 20 that remain a liquidity zone for the price, since we got 2 price rejection on 01 Feb and 20 May on this year. The last but not least, we may see that this market would reach their target price @7000 as their all time high price based on fibonacci external retracement cluster.
Short term note: Since we see that the market formed a mini raising wedge pattern on the edge of the faliing wedge, i expect that we gonna get a minor price correction before the market price goes high to the expected target.
Regards,
Happy Cuan
idx: SPTO daily, buy: 530idx: SPTO daily, buy: 530
volume pembelian: 15
resiko: Rp . 100.000,-
R/R ratio: 2.58
sl: 464
tp: 700
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Harmonic pattern on BBCA stocksHere, I see that there is a harmonic pattern called a bullish gartley that could possibly happen to the shares of BBCA, one of the banks with a large market cap in Indonesia. I'm also looking for strong support areas that can hold the price from falling down and on the chart we can see that there is a base area there and that area is close to the Fibonacci extension from the previous swing. Stochastic has also shown oversold. the price may reverse direction. but remember, you still have to be careful to manage the risk and you are against the trend
The risk is in your hands