Fcpo
22/06/2021 FCPO ELLIOTT WAVE ANALYSISHi Traders!
Nothing new for FCPO, as for yesterday trading session, we can see a ranging price action, no clear movement and clear structure.
Most likely we are in WAVE 4 phase where profit taking activities is take place.
My trading idea is still the same for wave 4, stay away is the best strategy.
Happy trading!
TRADE #1: FCPO WAVE 5 BEARISH TRADE SETUPHi traders,
We spot an opportunity to rejoin the bearish movement for final leg wave 5.
Here is the setup.
FCPOQ2021 (AUG 2021 Contract)
Sell stop @ 3410
Stop loss @ 3545
TP @ OPEN
Size = 1 Lot.
CONDITION:
1. Cancel order if price break SL level.
Trade At Your Own Risk
FCPO, LOWER FOR WAVE 3FCPO AUG 2021 CONTRACT
KEY LEVEL = 3831, 3852, 4064
CRITICAL LEVEL = 4260
10.06.2021
Trading below 3852 and 3831 would signal us that wave 3 is in play. Next reasonable target area for wave 3 will be between 127.8% and 161.8% Fibo ratio, 3472-3259 area.
As for today, we will monitor 4064 key level, trading above this level will cancel this wave 3 in 3 setup and price movement above our critical level of 4260 will cancel this setup.
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. =)
FCPO 09.06.2021FCPO AUG 2021 CONTRACT
KEY LEVEL = 3913,4166
CRITICAL LEVEL = 4468
09.06.2021
Expecting wave C of 2 toward 4336 area if price move above our key level 4166.
Breaking below 3913 and 3852 will strengthen the idea of wave 3 is in play.
My personal opinion, as long price is below our critical level 4468, the force is strong with the bear.
Embrace probabilities: Trading is all about probability, never certainty.
FCPO AUG 2021 : Expended Flat PatternFCPO AUG 2021
Quick update on my trading setup for FCPO Aug 21 contract.
We found a recognizable pattern on chart, Expended Flat wave 4.
Looking for short selling opportunity with impusle movement of wave C.
Validation level for this idea is the extreme top or previous higher high, breaking this level, will go with diagonal triangle idea.