Bull Rally Just Started on ECONBHD !!!

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The Board of Directors of Econpile Holdings Berhad ("Econpile" or "the Company") is pleased to announce that its wholly-owned subsidiary, Econpile (M) Sdn. Bhd. ("EMSB") has on 25 September 2014, received a Letter of Award dated 24 September 2014 from Cipta Klasik (M) Sdn. Bhd. to undertake earthworks, bored piling, contiguous bored pile and basement substructure works of a service apartment residential property development project at Lot 218 and Lot 256, Seksyen 63, Lorong Stonor, Kuala Lumpur, Wilayah Persekutuan (the "Contract").
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1749193

Looking at the daily chart right after IPO, ECONBHD start to formed a very clear Elliot wave formation, which is consist of 5 wave up and 3 wave down(correction wave), the correction wave which is formed by double Zig Zag, I name is as a WXY, rather than abcXabc. I just it is very good start for those who like to trade Elliot Wave.

By looking at the daily chart, I believed many trader may have a question how to recognized those correction and impulse wave count, let we zoom down to second level of detail, which is using 1 hr chart to do the wave count

 You can see the largest wave 2(black front) was ended with double ZZ, which is WXY and the internal structure of this wave have abcXabc. Right after the correction wave ended. the wave 3(big black color front) was began with extended wave 3, because it consist more than 1 impulse wave. I love to trade this type of impulse wave... by looking at the H1 chart it clearly show the correction wave ended with the expanded FLAT, and office BEST OPTIMUM entry point.

Bottom line.... My trade Plan as below
Enter point : NOW
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