FCPO (Ringgit) - DOWNTREND CHANNEL
Short term buy FCPO target resistance to T1 to fulfill range within downtrend channel. if momentum is strong, potential to break T1 (resistance becomes support) to head to T2. Stoploss is set at S1 (short term) and S2 (medium term). Bottom channel is where we should buy and top channel is where we should sell.
Potential Head and shoulder pattern is developing. once pattern completed, it's a potential reversal signal.
Short term Long to top of channel, Medium term Long (if H&S pattern confirmed)
Potential Head and shoulder pattern is developing. once pattern completed, it's a potential reversal signal.
Short term Long to top of channel, Medium term Long (if H&S pattern confirmed)
Note
price is expected to push thru T1, buy on weakness.Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.