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Jakartacompositeindex

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
INDEX:COMPOSITELong
by danandyo
Jakarta Composite Index (IHSG)- Shall the Downtrend Continues?Hi, Jakarta Composite Index (IHSG) has been on the downtrend for the last one month. If we look at the chart, we can find a double top which the support has been breached and become a resistance. The Index has just tested the resistance and pull back which can signal a possible downtrend. The key points for a further down will be : 1. Covid 19 Vaccination has started in Indonesia. However, there are areas in the country refusing to receive the doses; 2. Indonesian companies are subjected to release their 2020 full year audited financial report which is assumed not to be in a good performance; 3. Bank Indonesia is going to announce the interest rate. Remember, The trendline might be breached. As long as it is not, I am going to stay liquid. Happy Investing!
IDX:COMPOSITEShort
by TheWallPipsJournal
Jakarta Composite Index end of correction? Hello all, How curious that I now spend my free time looking at charts :) Since going down 18% from its 2018 peak there are signs of a recovery. Either we are somewhere in wave B of and ABC corrective rally or the correction is complete and the index has formed wave 1 and is forming wave 2 over the next couple of weeks. Caution, as wave 2 tends towards a deeper correction - so we may see something around the 0.5 fib retracement or more. If it is an ABC, then this may be followed by another corrective sequence to make a double zig-zag (WXY) or a triple zig-zag or combination (WXYXZ), or by a new impulse move up. If the wave down ends up forming a triangle then that reduces the probability that it a wave 2 and increases the chances that it is a B wave - as leading diagonals / wave 2 triangles are less common than in the B wave. Happy trading - keep an eye on those stops. This is published solely for my own education and to make it easier to monitor the market at key turning points.
INDEX:COMPOSITELong
by flyinkiwi10