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COMPOSITE trade ideas

JKSELast week: The price rejected 61% FIB area (61% was my target based on the 50-23-61 pattern). The was a slight Gap formed on august 5th. The Gap and 50% FIB as nearby support and 61% FIB as nearby resistance. indicators: RSI seems to be at around its previous resistance (BLUE horizontal line) stochastic bullish at the overbought area MACD bullish period after being squeezed for about a month and several days. To conclude, by using FIB level and E.W channelling I believe the next target for JKSE to set is around 65xx. (BULLISH) the GAP might be filled first but have to be careful if the price keeps going below 23% FIB. (BEARISH) NB: DO MIND that These analyses I posted here are intended as my notes and not as investment recommendations or as financial advice! Please also note that you are always responsible for your own investments when trading on the stock exchange! The analyses are only based on my opinion and view. LETS CUANN!!!
IDX:COMPOSITELong
by Talismanxx
COMPOSITEFrom the given chart, it can be seen that the E.W uptrend channel(green channel) which I drew months ago and followed by a correction downtrend channel(red channel) are still relevant. Taking a closer look at the uptrend channel, we can see that the price is riding it nicely after it touched the lower area of the channel several times. SO, this can be used as a current support area. On the other hand, looking at the downtrend channel we can see that there was a strong resistance area that had been rejecting the price several times, but was finally broken through last week as we can see from the pic below : The Fibonacci drawn in the chart suggest that this past two months the JKSE has been struggling between 23% area and 50% area. Once this is broken (especially 50% area) we can see more UPSIDE from JKSE. Else, we will see otherwise. Other indicators are all good, Macd is still in the squeezed period which tells us that JKSE is preparing for the big move. To conclude, JKSE is still in the right direction and the following week will give the confirmation we need.
IDX:COMPOSITELong
by Talismanxx
1
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
COMPOSITE, Although we can see that from the chart the price is at resistance area (downtrend channel), actually the indicators all look really good. RSI above > 50 Stochastic Golden Cross MACD Golden cross and above the zero line So, the target @ 62xx is still plausible. NB: These analyses are not intended as investment recommendations or as financial advice! Please also note that you are always responsible for your own investments when trading on the stock exchange! The analyses are only based on my opinion and view. LETS CUANN!!!
IDX:COMPOSITELong
by Talismanxx