IJACOBS (0162): Correction completed and now reversal up was confirm !

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Weekly trend was very clear and we can see this counter is in extension wave 3, what is extension wave 3 ? This pattern has been define as a TREND pattern in which wave 3 is extended, it is most probable trend pattern to occur as of now.

We can see very often wave 1 length in prices and time is equal to wave 5 if 3rd wave was extended( you can see the magenta color wave degree).

The recent downtrend most likely is ended with the abc correction, which is supported 

1.) Hidden divergent, which is indicated the wave 4 up and uptrend continuous will happen.

2.) Candle stick show hammer and doji+ green candle( last 4 candle), which is morning star, it is a strong indication to tell reversal signature.

3.) Wave 3 volume higher than wave 1, most likely wave 5 is under development right after correction wave ended

Let we zoom down to daily chart, we can see another 3 key points to support this counter will go up .

1.) Bullish divergent was form which is indicate RM 0.38 is bottom.

2) Consolidate 2 weeks and today form a white solder candler and break away from the resistance line 0.415.

3.) MACD signal line cross over and Pareto change form negative to positive, which is indicate the bull trend was just started.

My trade plan

I will buy on open market

Early  SL: 0.415

Late SL : 0.380

Conservative Target 0.520

1st Target : 0.640

2nd Target 0.920

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