MMODE(0059): Monthly, Weekly and Daily Trend are pointing to the North !!!

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I am Forex, future and commodity  trader and it is a must for me to look at the Monthly, Weekly, Daily, 4hrs and down to 5 min chart to look for the entry !!! It may not suitable for all the traders here, but it for me and I am in serious business.

Let we look at the big trend, which is monthly trend and we can see it is a triple ZigZagC ( WXYXZ), this pattern been defined as a sharp correction, in which 3 ZZ are connected by x wave, all the ZZ wave retrace not more than 61.8% of Wave A,B and C combined, It is an Uncommon corrective action pattern, it look very much like an impulse wave. Wave WXYX completed and Wave Z up is under development.

let we unfold another level of the time frame, which is weekly trend, that is couple of important point I would like to highlight it, which is support the trend going to up. there are

1.) Hammer decouple with long white solder to formed morning star, it indication of reversal up.

2.) Weekly support line been rejected on March 2014 and this two week reject as well, it showed strong support at RM 0.470.

3.) Weekly Stochastic cross over to indicate reversal up.

4.) Head and shoulder neck line support validate by recent bounce back up.

5.) Aggregate bullish divergent on MACD( don't worry and I don't expect many ppls know this), to indicate bull trend is ON

Daily Trend now ... don't worry and I promised will not get in to hourly chart. I look at it and feel even more excited. which Technical justify the price moving to north.

1.) 2 weeks consolidation done while DJI or KLSE correction up, it does not up, now it weak up like dragon to hunt for the food... ROAR ,,,,,

2.) Significant volume and price momentum was build.

3.)  White solder form and formed break away from 2 weeks consolation and resistance lines.

4.) MACD signal line cross over and Pareto turn from negative to position which is pointing to up.

My Trade Plan

Early SL : Close below RM 0.525

Late SL : Close below RM 0.470

Very Conservative TP :RM 0.650

1st TP : RM 0.70

2nd TP: 0.76

Med term : RM 1:00

Long Term : RM 1.12-2.00

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