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FCPO - Droste effectThe price of FCPO may having some adjustment after it climbed above 3000 from 2764. Once again, the price entered multi years supply zone which has been tested 4 times since late Dec 2016. Diving into smaller picture, the price is developing a potential bearish pattern. The construction of the pattern which developed another bearish harmonic pattern in H1 time frame. A potential reversal pattern before completing a bigger pattern. A potential trade opportunity if the price action tested & rejects from area of 3133 & fall back into the potential entry zone (small blue box) with a potential target price of 2970 & 2891. Signing out.
MYX:FCPO1!Short
by FXCruZaDer82
Week 45: FCPOX 2020 - Gap Filled, Time To ShortWeek 45: 02 to 06 November 2020 FCPOX 2020 analysis The price had been rejected two days in a row and not able to go beyond RM3,300. Weekend gap had been filled and if there is no continuation in the momentum, there is no reason for the price to go higher. This is a good opportunity to Short the market with a lucrative RRR. Here is my personal trade: Sell Now at market or at RM3,253 Stop Loss at RM3,300 Take Profit at RM3,062 Risk Rewards Ratio = 4.11R 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.
MYX:FCPOX2020Short
by machintose
1
FCPO - The deck of 2800 The price of FCPO climbed above 3000 after it failed to establish the reciprocal head & shoulder from the previous call. Price touched the supply zone (violet box) again. However price rejected and fell to 2800 psychology level. In a short term view, the price may hovering with a bullish 5-0 harmonic pattern identified supported on the level of 2800. A potential to go for a long order if the price action tested the stop and reversal toward the range of 2800 - 2836 (Smaller blue box) with a first target price of 3004 and second of 3051.
MYX:FCPO1!Long
by FXCruZaDer82
FCPO - Bearish Reciprocal Head & ShoulderThe price of fcpo has been fall more than 300 points in the distribution event from the supply zone. The psychology level of 2800 has been breach as well & a reciprocal harmonic Head & Shoulder identified. We might witness some volatility of price action in 2700 level in the event of defending the neckline area. A violation of the neckline could potential bringing price landed to 2490 level supported with reciprocal AB=CD in the H&S structure.
MYX:FCPO1!Short
by FXCruZaDer82
Oct12 - FCPO (Daily) - Likely Retest 304x-8x R-zone...🐮Did a video update, following up on previous CPO idea posted, check it out on my other social media accounts. Meanwhile, we have turned Bullish since S@2700 holding last week. Immediate R: 287x-9x taken, now turned support. As long as price stays above both UTLs, we are likely to retest prev HH near R2: 304x-8x area. Meanwhile, if we continue to stay above the weekly major level 2.8-3.1k, my new bull cycle call may be in progress ;) Check out the Elliott Wave count post from Sept20, below. 👇🏻 Happy Hunting! 🥂🚀 -jk-
MYX:FCPO1!Long
by jeanne_k
Week 41: FCPOX 2020 - Waiting for a BreakOut confirmationWeek 41: 05 to 09 October 2020 FCPOX 2020 analysis The price is consolidating at RM2,765 to RM2,800, once the price broke lower/support level, we will follow to short at RM2,740 area. I will look to short FCPOX as the right shoulder had been formed, and the only ingredient left is break-out confirmation. Here is my personal trade: Sell Stop at RM2,741 Stop Loss at RM2,800 Take Profit at RM2,613 Risk Rewards Ratio = 2.15R 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.
MYX:FCPOX2020Short
by machintose
4
Week 40: Compression is coming on FCPOX 2020Week 40: 28 September to 02 October 2020 FCPOX 2020 analysis At the moment the price is in the consolidation zone, to make it simple to the naked eye, the price is forming the Right Shoulder. However, please note that there are many variations of the "right shoulder", it can be a straight horizontal channel, diagonal channel, flag, wedge, and ascending triangle. Therefore, there are many variations that we can play with the market. As this is a weekly analysis, I will choose the smallest risk with a much favourable risk rewards ratio. Here is my personal trade: Sell Limit at RM2,978 Stop Loss at RM3,027 Take Profit at RM2,695 Risk Rewards Ratio = 5.9R 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.
MYX:FCPOX2020Short
by machintose
FCPO - Entering Supply Zone AgainFCPO now is entering the supply zone once again after climbed more 1000 points after rebounded on May 2020. This zone has been visited 3 times in late 2016, beginning of 2020 and here in present. A V-Shape accompanied with a bearish harmonic deep crab may witness the upward trend could be stalling. Price action plays the crucial role to determine the price will be rejecting in the supply area. A short opportunity if price reject in the potential reversal zone (Light Blue Box), may give a potential 1st target to visit 2596 area with a stop of 3233 Eagerly awaiting for this potential event.
MYX:FCPO1!Short
by FXCruZaDer82
2
Week 38: FCPOX 2020 is forming a Double Top?Week 38: 14 to 18 September 2020 FCPOX 2020 analysis Last week the prices were consolidating in a wedge, it is similar to the Bullish Flag pattern. Therefore today's price was open higher and creating a price gap rather wide. The level to watch is MYR 2,892 If this price level is broken, the price will go higher. However, if it fails to break, then we are anticipating a Double Top formation with an immediate Take Profit at MYR 2,811. The overall outlook is still bullish unless the price comes down to MYR 2,725, then we can say that the price is changing its direction. For today we are still neutral until we see a confirmation sign. 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.
MYX:FCPOX2020
by machintose
1
Sept09 - FCPO (1D) - Mild Bullish Above August Sideways Box...August sideways box, ranging roughly btw 2600-2800 zone has been broken, and recent test shows price chosen to stand above it aka bullish. Immediate resistance is near, R1 @ ~289x-291x ; while new support is formed, S1 @ ~278x-280x . Sideways-Up situation for me... Staying above immediate UTL, L1, may send price higher above >2900 Else, we may be in another consolidation range, trading within S1-R1 range. My latest mobile updates available on TeL egr am ;) Happy Hunting! 🚀🚀 -JK- MyTradingSpace
MYX:FCPO1!Long
by jeanne_k
Week 37: FCPOX 2020 is worth a waitWeek 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.
MYX:FCPOX2020
by machintose
Week 36: FCPOX 2020 is stagnantWeek 36: 31 August to 04 September 2020 FCPOX 2020 analysis If you are still holding your LONG position from last week, now it is a good time to liquidate your position. Currently the price is back to our Week 34 position, whereby the price is in the middle of the range, quite close to the resistance level and no momentum at all. The same as the dead silent before the storm is coming, as a trader, we shall wait and follow the next movement. This week, I would rather wait and see. I will place two lines: - if the price break RM 2,840, then I will look for a setup to buy - if the price break RM 2,600, then I will look for a setup to sell For now just chill. 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.
MYX:FCPOX2020
by machintose
Week 35: FCPOX 2020 remains at the Up Trend ChannelWeek 35: 24 to 28 August 2020 FCPOX 2020 analysis This week is a continuation of last week consolidation, the price remains inside the up trend channel. As we are waiting for the price to break the channel, as at today, on the lower time frame we see that the potential to be bullish is higher than last week. This week my personal call is rather risky as the ratio is less than 2R. Entry Buy Limit at $2,645 Stop Loss at $2,562 Take Profit at $2,800 Risk Reward Ratio = 1.73R 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.
MYX:FCPOX2020Long
by machintose
Week 34: FCPOX 2020 is in the middle of the range.Week 34: 17 to 21 August 2020 FCPOX 2020 analysis If you are following last week analysis, we were bullish for FCPOX 2020. However, this week the price is exactly in the middle range which is risky for us to trade. The current range is around RM 200 with an immediate resistance at 2725. This week no trade call, as the Risk Reward Ratio is only 1R, practically it is a gamble trade. However, should 2725 resistance broke; we are aiming for 2800 to be hit; else it will move sideways. 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.
MYX:FCPOX2020
by machintose
Week 33: FCPOX 2020 We are still BullishWeek 33: 10 to 14 August 2020 FCPOX 2020 analysis Last week the prices were ranging in a tight consolidation, our Buy Limit was not triggered yet; my view towards FCPOX 2020 remains the same. Buy at retracement level, hence we minimize our risks. This week trade call similar to last week with a small refinement: Buy Limit at 2611 Stop Loss at 2560 Take Profit at 2790 Risk Reward ratio = 3.6R Disclaimer : This is for education purposes, you may follow with your own lot sizing and risk appetites. As usual, I would like to make it as a habit, once your position(s) is/are in the profit zone, please move your positions to Break Even.
MYX:FCPOX2020Long
by machintose
Week 32: FCPOX 2020 At the crossroadWeek 32: 03 to 07 August 2020 FCPOX 2020 analysis This morning the market open with a gap up and stopped at 2724 (at the same level as previous high). For here on, we better wait for a better signal, because: (1) if the 2725 level is being respected, it means the market will form a double tops. (2) if the 2725 level is broken with a clean break (bullish momentum), then we can ride up to 2830. For my own preference, I prefer to wait until the price make a small pullback at 2645 area. This week trade call: Buy Limit at 2645 Stop Loss at 2563 Take Profit at 2830 Risk Reward ratio = 2.3R Disclaimer : This is for education purposes, you may follow with your own lot sizing and risk appetites. As usual, I would like to make it as a habit, once your position(s) is/are in the profit zone, please move your positions to Break Even.
MYX:FCPOX2020Long
by machintose