Background:
Due to unprecendented market intervention by various central banks, we are witnessing an increasingly volatile market. Gone are the days where market moves in orderly manner with orderly pullback in between.
Instead, corrective waves are exhibiting strong movements akin to impulsive moves.
Market can be imagined as having two throttles at extreme ends...
Based on the chart pattern available and my best knowledge on applying Elliott Wave Principle, I'm currently seeing FBMKLCI undergoing its first big major bear market.
Based on currently available information, the 1998 financial crisis decline is best counted as A-B-C decline correction, and the subsequent rally from 1998 bottom to 2018 top is best intepreted as a...
FTSEMYX:FBMKLCI
Due to unprecendented market intervention by various central banks, we are witnessing an increasingly volatile market. Gone are the days where market moves in orderly manner with orderly pullback in between.
Instead, corrective waves are exhibiting strong movements akin to impulsive moves.
Market can be imagined as having two throttles at extreme...
Based on the wave structure, FBMKLCI completed 5 waves leading diagonal from 2009 to 2014.
FBMKLCI embarked a correction in 2014, and the pattern is still unfolding.
Based on the recent retest of historical high in Q2 of 2018, it is finally apparent that the rally from 2015 bottom was a wave B of the overall flat correction.
Since the internal structure of flat is...
Price level satisfaction can only be achieved if FBMKLCI retest 1775, to conclude the correction (which began in Feb 2018), based on a combination WXY ElliottWave structure.
The wave Y is a reverse symmetry (expanding) triangle, with wave E aiming for 1775.
Price level 1775 will coincide with 61.8% retracement of the previous uptrend (Dec 2017 to Feb 2018).
The...
Personal opinion on Elliott Wave count of FBMKLCI.
We are still in the Intermediate wave 2, Primary wave ((3)) of Cycle V.
Long story short, FBMKLCI is poised to create all time high, but the timing cant be said for sure, rest assured, FBMKLCI extremely unlikely to break 1616 support, or else all the previous wave count will be nullified.
