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Looking at the big picture, Dsonic is wave 3 of 3 of 3 is just started !!! What is wave 3 of 3 of 3 ??? make it simple to understand is the super bull is most likely is started, why I say so ? those who trade Elliot wave always like looking forward to trade wave 3, because it is one of the strongest and profitable wave degree if we manage to ride/trade it , just imagine now Dsonic is at the 3 consecutive wave 3 pointing to north.
I not going to unfold entire wave time frame, but at lease minimum for the recent correction,
1. which is wave 2, base on what to justify the wave 2/ABC correction is end ?
2. what is the diagonal type 1(impulse wave)?
3. and also how to I know the recent fall should stop ?
Let will begin the journey, base on what to justify the wave 2/ABC correction is end ? let look at the picture below, we can see that is ABC(Red color), we can see very frequently the prices will continue fall with double ZZ (AbcXabc), I am anticipate it will not fall and 1.30 will the bottom for the next 3- 6 month ! What is the technical justification ? that is because of the recent diagonal impulse wave 1 was go beyong RM 1.99, which is give us a strong confident the correction is ended.
2. How Do I determine the wave 1 up is diagonal type 1 ? Diagonal type 2 is a sort of impulsive pattern, which
normally occurs in the first or A wave. The main difference with the Diagonal Triangle type 1 is the fact that waves 1, 3 and 5 have an internal structure of five waves instead of three. Experience shows it can also occur in a wave 5 or C, These Diagonal triangles are not followed by a violent change in market direction, because it is not the end of a trend, except when it occurs in a fifth or a C wave.
Lastly the important part is I observe bullish divergent/convergent and also inverted head and shoulder to tell the prices should stop 1.44 and above and offer good entry for me. the picture below is hours chart which represent pass couple trading day and we can see clear inverted head and shoulder
My trade plan as below
Entry price : now
Stop Loss :
2 candle close below 1:30
Take Profit :
very consecutive target : 1.73
1st Target : 1.80
2nd Target : 2.10
Med Tern : 2.40-2.70
Long Term : 3.50
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Investors should be cautious about any and all stock recommendations and should consider the source of any advice on stock selection. Various factors, including personal or corporate ownership, may influence or factor into an expert's stock analysis or opinion.
All investors are advised to conduct their own independent research into individual stocks before making a purchase decision. In addition, investors are advised that past stock performance is no guarantee of future price appreciation.
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