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Will JCY rebound and formed a higher low?

Written By Edwin Toh on Thursday, 8 November 2012 | 8:16:00 pm

Formed a hammer on the support at 0.74. Possible hinting us that it might bounce up by forming a high low if market sentiment is positive. For example for today, the whole Asia Market sentiment was bearish and as for KLSE ( 218 counter up and 458 counter down) . This plays a major role regardless if using Technical Analysis or Fundamental Analysis..





Indicators
1) Trendline - Broke above the Sideline(Bullish)
2) Support/Resistance - Formed higher high  (Bullish)
3) MACD -Positive (Bullish) . Watchout for bearish signal such as 4G1R
4) RSI - If break above 70% will indicate bullish
5) STO - Bearish Crossover (Bearish).
6) Ichimoku - a) Below   support cloud (Bearish).
                       b) Conversion line meeting the base line . It will be bullish if break above the baseline
                       c) Price above the baseline ( Bullish)




Conclusion:
Bullish -

E ( Entry) :0.78( Closed at or above it)
S ( Stop Loss) : 0.72
P ( Profit) :0.89
RRR (Risk to Reward Ratio) =1.83 (Rewarding)

E ( Entry) :0.81( Closed at or above it)
S ( Stop Loss) : 0.77
P ( Profit) :0.89
RRR (Risk to Reward Ratio) =2 (Rewarding)


Resistance at 0.82 / 0.91 / 1.01/ 1.06 
Support   at 0.74 / 0.7 / 0.65 / 0.615










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