Fcpo!
FCPOV2019 Still Bearish MomentumGap down upon market open still bearish momentum. Bears are pushing the price down. If you have no position, wait for chart pattern reversal and confluence with momentum indicators. Possible reversal today but wait for the bears to finish play.
FCPO: Hourly EW Count - Jun 28th 2019Weekly demand zone between 1863 - 1953 is being tested yet again. A small overshoot of wave 5 (circle) below 1940 is expected rather than a truncation with dashed line governing the extreme. Any strong movement below dashed line or 1900 price level will require a recount.
#contengconteng #fcpo #crudepalmoil
Bullish Gartley Pattern in hourly?FCPO formed a bullish gartley in the hourly time frame.
There is a high chance the market may move upwards and retest previous structure highs.
However there are no guarantees in trading. Hence stops can be considered at 1,960 and below, which is the X leg of this gartley. A close below this 1,960 will kill off this bullish gartley.
DISCLAIMER: ABOVE ARE BASED ON MY OWN ANALYSIS, IT'S NOT A BUY/SELL CALL AND DOES NOT CONSIDER YOUR RISK APPETITE.
Ranging FCPO. Which price level you should keep an eye on?In 1 hour chart FCPO considered ranging. Here are support & resistance levels worth your attention : 1994 support level and 2116 resistance level.
DISCLAIMER: ABOVE ARE BASED ON MY OWN ANALYSIS, IT'S NOT A BUY/SELL CALL AND DOES NOT CONSIDER YOUR RISK APPETITE.
FCPO. COMPLEX CORRECTIONKey level = 2038
Updated wave interpretation based on market fact; it seems like wave ((2)) is developing into a complex correction. Our first assumption for this complex wave ((2)) is a double three correction pattern. Looking for wave ((2)) termination in the near future. Our key level must hold for this wave analysis.
FCPO. TRADING PSYCHOLOGYKey level = 2139
Critical level = 2095
Yesterday price open with down gap and tested our key level @ 2139. Price re-bounce just 1 tick above our key level. We are still with the idea of wave ((3)) as long as our critical level of 2095 hold. Breaking below our key level 2139 will trigger alternate count that still valid for wave ((3)) development.
**((x)) denote wave label in circle.
FCPO. HIGHERKey level = 2139
Critical level = 2095
Expectation: Still with the idea of wave (3) of ((3)) in play, downward movement today we see as a corrective pullback marked as wave 2. Looking at a lower timeframe, we label the sub structure as a motive wave with an extended wave 5. Key level 2139 must hold for this wave analysis.
Reality: Let the market decide.
Hanya Allah yang memberi.
Happy trading.
FCPO. WE GOT AN IMPULSIVE MOVEMENT!Key level = 2184
Critical level = 2095
Expectation: Working on the idea of wave (3) of ((3)) for FCPO market, we are hoping to see price rally toward 2235-2260 area to complete the first sequence of motive wave before entering corrective pullback.
As for now, on one significant timeframe lower, we can only see a three-structure development.
By using the Elliott Wave Rule # 3, “WAVE 4 CAN NEVER ENTER THE PRICE TERRITORY OF WAVE 1 AND 2” , our key level is set at 2184 for the sub-wave development.
Reality: Let the market decide.
Hanya Allah yang memberi.
Happy trading.
FCPO. WAVE (2) BOTTOMED?Key level = 2193
Critical level = 2095
A very sharp movement today on afternoon trading session toward 2177 area is a good sign that wave (2) already in place. Looking for an impulsive 5 structure movement toward 2235-2260 area to strengthen the idea that wave (3) is unfold. If wave (3) already started, price has no business under 2193 area.
By following Elliott Wave rule #1 “Wave 2 cannot retrace more than 100% of wave 1”, our key level for this analysis is at 2193 and critical level is set at 2095. Key level must hold for this intermediate wave forecast and critical level must hold for a higher degree validity.
Breaking below critical level @ 2095 will cancel this wave analysis.
Brace yourself and keep focus, wave 3 is coming!
Let’s hope for the best!. Hanya Allah yang memberi.
Happy trading.
FCPO. WAITING FOR WAVE (2) BOTTOMED.Key level = 2095
Yesterday price movement breaking below 2147 clearly telling us that wave (2) still not in place yet.
Working on one wave at a time, I’m going to wait and see the development for this downward movement and adjust my plan accordingly to the market tune.
Happy trading
FCPO JUNJangkaan FCPO Jun - Isnin
Bullish candle terbentuk pada paras 0.618 dan disokong oleh MA200 menunjukkan minat belian yang tinggi.
Paras sokongan 2160/2150
Paras rintangan 2182/2202
Penafian: Ini adalah perkongsian idea dagangan. Tiada saranan panggilan beli atau jual. Selamat berdagang.
FCPO. WAVE 2 RETRACEMENT.Key level = 2095
Price already reach target retracement area 50-61.8%.
In my own personal opinion, there is still some room left for wave (2) retracement. Waiting for a clear evidence before too see if wave (2) have bottomed.
Key level must hold for this wave idea.
Let's see what the market will offer us.
Happy Trading
Want What The Market Want.
FCPO.Looking for a short term pullback to 2148 area.
Long term trend projection still to the upside.
FCPO price weakerFCPO price in Bearish Fibonacci Structure and looking weaker in short term.
2120 - 2050 range maybe next few days before the price form another clearer structure and direction.
