Fcpo
FCPO Crude Palm Oil FuturesMy view on FCPO;
1) Price is to rally higher to the next Resistance level
2) Price is expecting to do a bullish reversal at the 0.5 fibo level which also respecting the previous resistance turn support level
Will enter into a position when price reaching 0.5 fibo and make a higher high. Targetting 170 to 175 ticks.
FCPO TRADING : 294)retest the previous highthis is haidojo and the number is 294 ...
after the recent rally, bull has its grip back. Till yesterday, it has gone back to the previous level at 4400...
so the next level we are looking at is, the previous high in mid-may 2021, and also the highest price ever in fcpo since 2008...4430-4525
if it falls back for consolidation, we shall see some support ranging frm 4200-4300...
that's all for tdy ...if u are frm malaysia, be safe, stay at home...
*plan your trade and trade your plan... gud luck*
higher resistance : 4430-4525(the record high)
immediate support : 4200-4300
lower support : 4050
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!
July21: FCPO (Daily) - Wide Range, Sideways Up...🐮📈Maintain sideways view, price continued rallying on weak volume, reached prev R@ 406x-418x area.
Expect some retracement upon violating steep UTL, price may find support near S zone.
Major S&R zone
R1: 406x-418x
Major R2: ~4.4k
S1: 366x-386x
Major S2: 3.2-3.4k
Looking for swing long on retrace. Maintaining longer holding period positions lately due to lack of monitoring time.
Lesser posts here, due to TV deleting some of my posts (😤). I still post more in my own public channel. :)
Happy Hunting! 🚀
-JK-
13/07/2021 FCPO ELLIOTT WAVE ANALYSISAsslamualaikum and Good morning Traders!
As for now, im bias to the bull side as long as price is above 3819.
Please refer to my "stream" for detail explanation of today analysis.(audio = bahasa melayu).
As for my trading plan, still waiting for a clear trading setup before consider to enter the market.
Clarity is the key for successful trading.
Happy Trading.
09/07/2021 FCPO ELLIOTT WAVE ANALYSISTRADING CONTRACT: SEPT(U) 2021
KEY LEVEL = 3838, 3711
CRITICAL LEVEL = 3499
Working on the idea that wave 4 is already in place and looking for an impulsive movement toward 3978. Trading above 3838 will strengthen the idea.
As for today, we will monitor our 3711 key level serve as validation of the idea that wave 4 is already in place.
OUR CRITICAL LEVEL IS BASED ON ELLIOTT RULES THAT WAVE 4 CAN NEVER ENTER WAVE 1 PRICE TERRITORY.
I AM A GOOD TRADER - You only need one affirmation and this is it. Read these words every day until you don't have to read them anymore. =)