DNONCE SPOTTED IN HARMONIC PATTERNConsider to study and monitor a potential low entry of DNONCE in what appears to be a bearish bat harmonic pattern in daily time-frame where a potential swing trade can be taken from C to D, with the first potential TP and B. The probable EP at fibo886 (0.280), the probable max TP is fibo886 extension which happens to be a yearly pivot acting as resistance and the proposed CL is below A which also happens to be below the 52-week low.
DNONCE trade ideas
My Trading Plan using Harmonic BAT Pattern on DNONCE1. Bat pattern will be valid if the price passes and closes above point B. That the entry point (white line)
2. The price must always be above point C to determine this form still applies. Point C is last cutloss price (red line)
3. Near strong support is yellow line for my CL
3. My expectation the price will reach point D as TP1 to complete this Bat pattern at 0.886% (0.685).
BREAKOUT DNONCEDNONCE just breakout 200MA,probably will retrace back to lower trendline as a support before move higher(as shown by red arrow).Weekly MACD also already crossed up above '0',shows some momentum.Not a great fundamental company but there are some improvement with QR report.It is also in strong sector currently
Dnonce : Third WaveDnonce Trend Analysis:
Downtrend:
First the price trend went through a downturn creating a new low.
During this stage, MCDX is relatively low, below 25%.
It is a chips accumulation stage
First Wave:
Upon completion of accumulation, there was a first up where closing price breakout the neckline with volume, MCDX moved towards 50% level.
Completion of first wave up was followed by a consolidation-retrace, creating a higher low towards the end of retrace.
Second Wave:
Upon completion of consoldation-retrace, there was second wave up, breakout the neckline with volume.
During this stage, MCDX moved towards 75% level.
Third Wave:
Upon completion of retrace with lower volume, again, again there was breakout neckline with volume, with third wave up in progress.
At this stage, MCDX is higher than 75% moving towards 100%.
Disclaimer : This is purely a Technical Analysis study, no suggestion of buy/sell.
DNONCE TRENDLINE LEARNINGTEKNIK ASAS ILMU TRENDLINE (TL)
1. Cara tarik Trendline UTL dan sharp entry guna teknik TL = LL LH LH
jika nak swing. Selagi UTL belum patah on je swing trader.
2. Cara tarik Trendline DTL = HH HL HL.
Ada juga trader BOB tunggu kat sini. Breakout je TL beli .
BOB = Buy on Breakout
