After a week's break.....

 My entry last week mentioned that I did not have anything to up-date, mainly because most of the charts I was in progress of my prediction in my past entries.

I have made an attempt to write about FTX and crypto currencies. However, I put it on hold after I have begun, basically I have little interest in this group of "commodities", they are not real to me, and base on my read on Bitcoin (the representation of crypto to me), it is heading towards negative. I am not sure how the whole market will react when this happen. 

since then, I just focused on my daily trade, which is based on 3-minute chart working with hourly chart. 

Plus, I have to introduce some outings for my son as he has not much plan on what he wanted to do. We made a trip to Johore Bahru on Tuesday for father-son bonding.

By the end of the week, some interesting development happened, at least the way I see it.

Fig 1. Dow Jones weekly Chart

Dow Jones turned at its 38.2% retracement line with a strong burst up-ward.  

It seems to have turned again after breaking through the moving averages, with a seemingly hang man and along bar with color change. 

However, based on the behavior of its previous trend, I believe that it is a correction, with support of its 21-week moving average and its journey might end with support from 55-week moving average. It will then proceed to continue its main trend up-ward. 

As the move is yet to complete, 

Fig 2. Nikkei225 weekly chart

Nikkei has been trying a few times to break its 144-week moving average and failed. It continued to have higher lows on every attempt.  After its last reversal on 2nd October 2022, its ascension was decent and only to congest after it broke through all the moving averages that I have placed.

Its latest descent after breaking through the congestion band, it is supported by multiple moving averages and to me it is poise t move up-ward. 

Using projection measurement, I will see resistance between 29,195 to 30,296 with Nikkei.

Fig 3. Hang Seng weekly chart

Hang Seng has is shooting up after reaching its 100% projection objective. It has a mild retreat after resistance from 21-week moving average but continued its trend up-ward. It has presently crossed its 61.8% retracement line with no sign of reversal.

Using projection, it is seen with close to reaching its 100% objective of 20,650, coincidentally its 55-week moving average as well as where the neckline is located.