If this monthly candle close at 105.50 & below, the bearish signal is strong enough to test Fibo 50% level (reentry of the previous downtrend line).
Trading Idea:
Option 1: Short now with CL 107.600 and TP 102.000
Option 2: Wait until 30 Aug to observe the daily closing candle. As long as it stay below 105.50, just short it with CL 106.500.
Taking the recent uptrend momentum, re-entry point would be at MYR1.35, using the golden ratio 50-61.8% middle band trading strategy.
In summary,
Buy at 1.35, TP1 1.59 (Short term), TP2 1.80 (Middle term)
Cut Loss at 1.19
Taking the recent monthly upthrust momentum, a 50-61.8% correction may happened to complete Cup & Handle Pattern.
Trading plan:
-Observe price whether any rejection happen when price correct to 50% (0.855). If yes, proceed next.
-Buy order (GTD 30 June 2019) at price 0.845; TP1 0.98(Exit 50%), TP2 1.10.
-Stop loss 0.77
-Plan valid till end of June considering...
High volume candle is observed at 10 Jan, it could be a signal before long rally.
Trading plan:
Buy on breakout price at RM0.330.
Target: RM0.400, RM0.450
Stop-loss at RM0.265
From trendline analysis, FKLI level still trading within downtrend line. No visible breakout is observed at the moment to break the bear spell.
Trading Plan:
Short: 1668 (2 points lower than 1670 physological level)
Target: 1655 ; 1640
Cut loss: 1680
After observing a death cross on daily chart (MA50 vs MA200) on 18Dec, bear has take over the market.
Trading Plan:
Short at 22960, CL:23457, TP1:22463; TP2:21535.
Final Target Profit: 1425 pips ; Risk: 497pips
NASDAQ rebounded from 6535 level, and breaking the downtrend line on 11 Dec 17:45 (GMT+8), not giving any chance to approach lowest low of 6449 which tested in November. With the current rebounding signal, 7010 could be observed within this week.
Trading plan:
Long 6841(Limit order), CL6800, First Target 6910, Second Target 7010.
Since Oct 4, bearish trend line has been formed, until 3-Dec gap up to break the trend line.
Trading plan:
Long at 54.00 (limit order), CL 52.75, FIrst profit target 55.75, second profit target 57.00
After rebounding from 6449.50 on 20-Nov, NASDAQ developed a bullish trend line. However, the daily chart is telling us a bearish elliott wave.
Trading plan:
Short at 7012 (order limit) after 17.30(GMT+8), timing is crucial to let the market converge before trend develop.
CL 7027
First profit target: 6965
Second profit target: 6885
DJI rebound back to 26000 level, and come back to the bullish trend line.
A gap of 200 pips is observed, it could be swing back to last point by the time DJI open market.
Trading plan:
Short at 26000 level (limit order), cl 26053, profit taking at 25600.
