http://stocksforliving.com/component/content/article/40-greetings-and-introduction/197-point-of-view-jci-direction-analysis.html
Sunday, 24 January 2010 02:52
POINT OF VIEW
JCI DIRECTION ANALYSIS
Comment
Jakarta
Composite Index is in the final stage of intermediate bullish movement.
Speaking swing section, JCI now is completing wave 5 target. Wave 5 of
JCI was sudivided into 3 waves and the third wave was also subdivided
into 5 waves. Now, wave 4 is emerging and near to completion. However
the major upside trend is should be very limited as wave 5:3:5 will be
appear soon, if not extend. Let assume wave
5:5 is not extend, so the best decision is to exit the market as soon
as possible following the upstream of JCI.
(Click the picture to open the original size)
System
ASTRONACCI © Trading System by Stocksforliving Indonesia,Ltd
Momentum
Daily momentum bearish not oversold confirming a formation of wave 4:3:5.
Pattern
Wave 4 of 3 of 5 is emerging now.
Price
Wave 4 typical target is 2.553 – 2.569, or 2.517 – 2.537. That support is
around 180 and 270 degrees earth rotation.
Trading Advises
Long trade should be taken when price makes reversal after reach that area and
follow by bullish reversal on Stochastic 5,3,3.
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