FCPO 16 August 2021New contract..
Price seems like trade in the range.
Approaching Gann box cycle level 1.0.
Lets see if price able to break above resistance.
Fcpo1
Recap FCPO 13 August 20211. The major trend market structure is an uptrend.
2. Early morning session continues from previous day give us short term trade for downtrend move.
3. Once the downtrend market structure is broken, prepare to find the long entry opportunity
4. There is 2 type of entry. Risky and safe entry.
5. Risky entry when EMA14 + EMA50 still below EMA200 while price successfully break EMA200
6. Safe entry when all EMA align for uptrend movement.
Time Cycle and Gann Box for FCPOTime cycle and Gann box to predict the market movement hence easy to make the decision.
We use 15min TF as our major time frame.
Time cycle draws by choosing double top/bottom.
Gann Box draw align with the time cycle for each level.
For current market trend, its follow the current cycle time. It might be changing in the future.
FCPO Crude Palm OilBullish is trying very hard to push against its 5 & 15 min resistance. Bullish volume in the 1HR chart seems to be working too hard with a little too less, or I can say a formation of Doji. However, the price just closed above the resistance, we will be looking closely at the next candle reaction, whether the bullish is getting weaker or stronger. Here some tip, if the bearish candle goes down easily closing below its support area + with little effort in the volume, then you know that bearish is stronger than the bullish.
Again, nothing is clear now, Price is tight right now between various numbers of EMA. Waiting for the "kettle" to reach its final temperature before bursting out to the upside or downside.
If it goes up, we can see it will go up to 4300 area or even better, closing the gap.
If it goes down, I believe that it will still not going too far, probably will retest again at 4080 area, but hey, money is money.
Good Luck.
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 Crude Palm Oil October 2021 ContractMy view of FCPO for this week. Buying pressure is decreasing and will be looking to consider re-purchase at the 3880 levels. As of now, I am going for Short. Good Luck.
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-
FCPO Crude Palm Oil October 2021 ContractPrice is currently in consolidation. We will look for a possible breakout either up or down. We will see.
Crude Palm Oil (FCPO Futures)Recent price (1HR) has managed to close above the resistance area. 15 minutes before market closed, price has made a bullish reversal in 5 minute time-frame. My target is 140 ticks above till the next resistance level. Good luck.
May17: FCPO (Daily) - Bulls Likely Take a Breather...🐮📉CPO: Weekly & Daily Up-Channel top reached last week. 🚀✅
Coupled with slight momentum weakness on Hourly, suggesting an overdue retracement might finally take place.
In case of continued bullish momentum, mainly driven by macro reasons, look to R1: ~4.6k, R2: ~4.8k
Else, price may find support at S1, prev ATH, or UTL1.
❇️April11 Long Call hit R1, next will be R2...
❇️Midterm Bull Cycle: Strong Breakout from R2 marked below from Sept2020...
Happy Hunting! Stay Safe! ⭐️
-JK-
May03: FCPO (Hourly) - Sideways-Up, To Retest HH@419x...🐮🚀200ticks sideways range over the past week or two.
Daily & Hourly strong support: 382x-8x zone still holding, likely to see higher moves from here.
Watch R: 408x, 414x, then HH-419x
❇️ April11 Long Call still intact, haven't priced in the contract change.
❇️ On retest 419x HH, will again stand above Monthly strong R as below.
Happy Hunting! ⭐️🚀
-JK-
cpo future break triangle FCPO1 break triangle and tomorrow will retest fibo 0.61 aiming 3930 for temporary
FCPO - Within Rising ChannelPrice of FCPO supported in the rising channel as well as a harmonic pattern formed in a shorter timeframe may provide a trading opportunity for a price target of 3891 & 3955 or even higher.
April11: FCPO (Weekly) - Bullish, R@4.4k, 4.6k, 4.8-5k 📈🐮🚀
🔅Fed continue with USD printing, US 10yr bond yield consistently rising touching 1.7-1.8%, US Stocks pumped by stimulus money...
🔅Across-the-board commodity spike especially food & grains...
🔅USD Index continue rising despite excessive printing, suppressing EM markets currencies (including our MYR)...
🌐These are all MACRO reasons why CPO will see higher prices going forward.
⚠️ Risk: CPO entering high-production cycle; fluctuating global export demands due to restricted economic activities; COVID recovery progress.
Maintain mid-term bullish view as per last posted ideas below.
❇️ Follow my TG channel for latest market updates. :)
Mar10 ATH call:
Q1 Bullish Call:
CPO Monthly Bullish Cycle:
Mar10: FCPO - March Test ATH & April New ATH 📈🐮🚀💡Q1 Call to ATH in progress...
💡Mid-term CPO Bull Cycle wave counts in progress...
❇️ Holding Long's, aiming ATH, then new ATH.
⭐️ Fundamentals: US Fed excessive money printing > MYR continue weakening > Rising inflationary pressure > Spike in Food/Agricultural Commodities > CPO Bull Cycle
FCPO retracement at 0.5 and strong support and gap entry.Entry, P&L. Target profit at 100% fibo line.
Feb18: FCPO (1D) - Sideways-Up btw 3.5-3.8k before breakout 📈🐮Sideways-Up bias before the eventual Longterm upside breakout to 4k & beyond, commodities are seeing across-the-board rise on hyper-inflationary risk, thanks to massive money printing.
CPO price bounced off major S @ ~3200, subsequently reach R1-R3 upside mentioned in previous post.
Expect further consolidation near wide range top (3500-3800) region, potential retest UTL, before the expected major breakout to 4k & beyond.
🔔Overhead Resistance: 3.6-3.7k, 3.8k
🔔Support Zone: 3.5k, 3.4k
❇️ All R reached on bounce off range low (check out post link below)
❇️❇️ Major Breakout in progress on Longterm chart, link below
Happy Hunting! 🥂🚀
-jk-
Feb08: FCPO (1D) - Sideways-Up to 3.5-3.6k 📈🐮CPO price consolidated past 1-2weeks, supported above UTL & major EMA , bulls took back control by end-Jan.
Staying >320x-2x support will see price attempt to regain 3500 & 3600 resistance levels.
Expect volatile sideways-up situation for coming 1,2weeks till market resume after CNY 🧧🏮
🔔 Overhead Resistance: 344x-9x, 354x-8x
❇️❇️Longterm Outlook: R2 tested, R1 holding on test, attempting to break above. (check out post link below)
Happy Hunting! 🥂🚀
-jk-
