Week 37: FCPOX 2020 is worth a wait
Week 37: 07 to 11 September 2020
FCPOX 2020 analysis
Last week the price broke the resistance level, however it was not a clean break.
It means, it was not really a sign to be bullish yet. We are anticipating two possibilities:
The key to observe is RM 2,740 - 2,750, we will see the behaviour of Price Action in this area.
(1) If the price bounce at RM 2,745 area, then it is a good sign to look for a BUY.
(2) If the price is back inside the previous consolidation zone, we can be sure that the past 2-3 days are just a False Breakout.
We will sell the whole-nine-yard when it happens.
That's why I recommend if we just sit tight and watch first, for now (Monday), no clear direction.
Disclaimer:
The analysis above for educational purposes only, I do not responsible for your losses. Please adjust your own lot sizing according to your appetite.
If you are benefiting from my trade opinion, please buy me coffee .
As always, move your SL when you are in the profit zone.
FCPOX 2020 analysis
Last week the price broke the resistance level, however it was not a clean break.
It means, it was not really a sign to be bullish yet. We are anticipating two possibilities:
The key to observe is RM 2,740 - 2,750, we will see the behaviour of Price Action in this area.
(1) If the price bounce at RM 2,745 area, then it is a good sign to look for a BUY.
(2) If the price is back inside the previous consolidation zone, we can be sure that the past 2-3 days are just a False Breakout.
We will sell the whole-nine-yard when it happens.
That's why I recommend if we just sit tight and watch first, for now (Monday), no clear direction.
Disclaimer:
The analysis above for educational purposes only, I do not responsible for your losses. Please adjust your own lot sizing according to your appetite.
If you are benefiting from my trade opinion, please buy me coffee .
As always, move your SL when you are in the profit zone.
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.