FCPO TRADING : 270) analysis hourly chart
after breaking down the big picture or the so-called the "bird's-eye view" frm daily chart, now we go to the lower timeframe at hourly chart...
if the support level frm 3600-3645 can hold, then there is still a possibility that the market will rebound back...so till then, officially fcpo is in uptrend...yeah, I know, I know...we have a huge drop today...it didn't stop at all...it is pretty scary, etc... but as long as the critical levels are not broken, then we are still in the bull territory...
however, if the previous low at 3600 is broken, then...the trend has changed...it has to be lower-low, lower close...not juz the "whiskers"...
lower support after the breach of 3600 then we shall seek some support around 3540, then 3463-3500...
*plan your trade and trade your plan... gud luck*
higher resistance : 3830-3880---previous high
resistance : 3720 support-turn-resistance (market is toying with us)
critical support : 3600 the closest higher-low
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures or forex might incur a huge risk to your account/funds…DON’T LOSE MONEY THAT YOU CANNOT AFFORD…any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING. It is MERELY a trading journal and it has been used for educational purpose only… trade at your own risk!
if the support level frm 3600-3645 can hold, then there is still a possibility that the market will rebound back...so till then, officially fcpo is in uptrend...yeah, I know, I know...we have a huge drop today...it didn't stop at all...it is pretty scary, etc... but as long as the critical levels are not broken, then we are still in the bull territory...
however, if the previous low at 3600 is broken, then...the trend has changed...it has to be lower-low, lower close...not juz the "whiskers"...
lower support after the breach of 3600 then we shall seek some support around 3540, then 3463-3500...
*plan your trade and trade your plan... gud luck*
higher resistance : 3830-3880---previous high
resistance : 3720 support-turn-resistance (market is toying with us)
critical support : 3600 the closest higher-low
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures or forex might incur a huge risk to your account/funds…DON’T LOSE MONEY THAT YOU CANNOT AFFORD…any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING. It is MERELY a trading journal and it has been used for educational purpose only… trade at your own risk!
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