Price action and chart pattern trading
> Pattern Head & Shoulders with a possible target downtrend C-wave 0.786 fibo zone extension of previous A-wave
> Current moving uptrend minor 4 wave correction with limited downside at SMMA200W as the target.
> Long Entry @ local channel breakout once completed minor 5-wave
> Key resistance SMMA50W
Price action and chart pattern trading
> A more detailed project of Elliott Wave presents an alternative bullish scenario.
> An Impulse ZZ family has possibly presented a wave 2 intermediate position going up making wave 3 on the way.
> 1st target at wave 1 position, 2nd target at wave 3 at 1.213 - 1.618 zone and final target at wave 5 at 1.618 - 2.618 extension...
Price action and chart pattern trading
> Estimated Elliott Wave standard ZZ correction ABC - impulse C at 0.786 - 1.0 of wave A but can be truncated or failure
> Making the Elliott Wave main cycle W.II at 0.382 Fibonacci retracement of W.I starting point
Note: projection in TF4H and TF1H can be different i.e. W.B position is projected as new Wave 1 cycle.
Always...
PSL | Thailand SET Index | Transportation Sector | Chart Pattern | Price Action
> Really waiting for entry at EMA400 but this Inverse H&S appeared the first time in the main Elliott Wave Correction phase.
> Wait for confirmed trend Falling Wedge breakout EMA200 for an entry point to avoid a false break.
> Stop-loss 3-5% below entry point
> Target 21 baht at Volume...
PSL | Thailand SET Index | Transportation Sector | Re-entry Buy Position @ Bullish Breakout Falling Wedge Resistant Level - a possible Elliot Wave Position 2 of Grand Supercycle correction phase.
The PRICE ACTION TRIGGER of BUY position is the BULLISH BREAKOUT of the resistance of the 3-DRIVE FALLING WEDGE reversal pattern, possibly crossing up EMA100 or...
