SET index is coming downFrom world's economic trends, I am expecting to see SET index drop down to 1350 zone which is strong resistant zone.
Timing between last quarter of 2019 to first quarter of 2020.
SET trade ideas
SET Index to hit 2-year new low (Weekly Chart)After SET index breakout 5 years channel at 1600.00, it retested to 1600.00 support line and showed the weakness breakout as long red and short green candles.
It dipped a little new low at 1590.00 so this notices the bearish sign of lower high and lower low.
Forecast : Bounce to 16500.00 and plummet to 1500.00/1350.00
SET TFDAY, rebound briefly before fall again.
Hammer pattern in Tfday on the exact support level(and also EMA200) hints that it will probably be a short-term bottom and bounce back to resistance level at 1692 and test 1700. (which is a tough one since it's a resistance level with a round number)
But the island reversal told us that there's a potential change coming on a way.
So SET might bounce back to retest a resistance level as a courtesy of the hammer and then decline again as a favor of Island top.
ASCENDING TRIANGLE PATTERN BREAKOUT* ASCENDING TRIANGLE PATTERN
* LOOKING SOME PULLBACK BEFORE GOING ANY HIGHER.
* UPTREND
[SET INDEX TH] possible drops more in coming weeksWe can see LH and LL printing on the weekly chart.
There is also a lot of uncertainty about the election result.
Possible drop to the previous support zone (~1550)
If this zone breaks, very likely to send us to ~1500 and bounce there.
Going back above 1680 will invalidate this.
Good luck trading!
Stay safe!
Positive Momentum for SET Indexalso an obvious fund inflow after Thailand got new PM and resume democracy.
non standard correctionnon standard correction Two examples 1.Double Combination & Triple Combination to wave B
