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Rising Wedge Pattern on IHSGDisclaimer on, This is a personal opinion, I am not responsible on your trading results. Trade with your own risk. After successfully reaching its All Time High (6754.5) on 22 Nov 2021, JCI (Jakarta Composite Index) / a.k.a. IDX:COMPOSITE appears to be forming a rising wedge pattern accompanied by bearish divergence on the stochastic indicator. This condition needs to be watched out for considering that the rising wedge pattern is a bearish pattern. Confirmation of the occurrence of this pattern is if the price is able to break out and close the lower trend line which is around the level of 6665.7 which coincides with the support line. The target for the decline is at the level of 6481-6458.
IDX:COMPOSITE
by riandwip686
What about JKSE??above all MA 5,10,20,50,200 (daily,weekly,Monthly) NEW ATH this week RSI>50 STOCH K<D... MACD < SIGNAL... REGULAR BEARISH DIVERGENCE... Ascending triangle??? ATH, MA, RSI really makes it real good, but Divergence give me a bad signal. the divergence has not been confirmed yet since the price has not go down below/touching FIB 23%. TO summarize, Need to be careful about my trade at this time... 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:COMPOSITE
by Talismanxx
Dangerous JKSERegular bearish Divergence give me a bad signal about IHSG. to know that the divergence is valid is by using retracement. If the price go below 23% FIB then the divergence is valid and the price might go lower to FIB 36 or 61 or even lower. 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:COMPOSITEShort
by Talismanxx
IHSG ascending triangle forming, possible breakout or breakdown?IHSG have been going sideways for quite sometime and we can see an ascending triangle forming on the daily chart, a positive sign. However, evergreen and the threat of fed hawkish in the November tapering and yield usdt spiking are still looming. IHSG can still go either way, and the path to bear will definitely be much swifter should it happen as we are nearing the end of the month. I am currently on 80% cash in a wait and see mode awaiting IHSG confirmation and personally bearish. What are your thoughts fellow Indonesians bros and sis?
IDX:COMPOSITE
by Vestige
IHSG For The Week Ahead (4 Oct - 8 Oct 21)IHSG is currently bullish after breaking out the 22 July 2021 long resistance and further pushing up the daily resistance line of 6155 It will be an interesting week to see whether the jump was but a bull trap or a true bullish push. In order to maintain its bullish position, IHSG must stay above 6155 support line (which now also shows as 4hr timeline Fibo 0.382). Breaking that strong support line means IHSG must battle the next ongoing support line which previously formed the ascending triangle. Should IHSG is able to continue its path above 6155 for the next week, a stronger bullish pattern will be guaranteed. Likewise however, should 6155 is broken, the bear will be back in control, and it will be a harder fight as ongoing diagonal support gets narrower. I hope my idea will help you gauge and prepare better ahead for the next week. Should you have different idea or perhaps agree with my prediction, please kindly share your thoughts as I would like to hear them so we can learn better together. Thanks for your visit and have a great weekend
IDX:COMPOSITE
by Vestige
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