FCPO 23 Sept 2021 : Trade Bearish Harami1. Price at Resistance level
2. Price at the Downtrend line.
3. Price reaches max daily range.
4. 15min Bearish Harami / Inside bar
5. 5min Evening star pattern.
Might be shorter trade.
Fcpomalaysia
FCPO 22 Sept 2021 : Trade Shooting Star1. Yesterday have a false breakout and price consolidation for a while. As usual, the false breakout will produce a higher magnitude of movement.
2. Today price breaks 2 resistance levels.
3. Now price rejects resistance level + Gann level with shooting star CS @ 5min TF.
4. 15min TF has a spinning top black CS pattern.
5. Since the trend now is bullish, selling is only for intermediate conditions. Depend on how the price reacts to EMA14+EMA50 at 15min TF.
Other concern :
1. China Evergande issue might contribution a significant effect on the world economy.
2. China is our 2nd largest Palm oil export destination behind India.
3. Remember when Lehman Brothers collapse in 2008.
FCPO 21 Sept 2021 : Trade False Breakout1. Yesterday's price has a large downside movement up to 200tick.
2. Yesterday's price close with bearish CS.
3. Today price open below the 1st support area and the price closes back inside the range close the gap.
4. False breakout trade still valid as long as the price trade above the support area.
As an intraday trader, monitor any rejection at 15min TF.
"Trade at your own risk"
FCPO Wyckoff Re-accumulation : Spring Formation1. Price consolidation starting July 2021.
2. Automatic Rally (AR) with a large price drop to establish the support.
3. FCPO created ATH shows Sign of Strenght
4. Multiple Formation of Secondary Test (ST) with significant supply volume.
5. Noticed formation of the uptrend channel.
6. On 20 Sept 2021, the price drop significantly and close above the AR/support area with moderate volume. This is a good sign for bull.
7. Price will break the resistance to continue higher.
FCPO New Contract Outlook1. So far price has respected the uptrend channel.
2. Dec2021 contract open followed by bearish momentum after the false breakout on 15 Sept.
3. Price almost reaches the bottom channel offering long opportunities.
Strategy :
1. BUY if there is reversal CS (doji, hammer, engulfing or morning star)
2. SELL if the price has a valid breakout of the support and the bottom channel. Wait after pullback for entry.
How to earn 24~33 ticks from FCPO each day using Gann level?1. Using Gann square of 9 to determine potential support and resistance level.
2. Between each Gann level has a range of 33 ticks for FCPO.
3. Combination of Gann level and support resistance to entry.
4. Knowing the market condition is a must. (either sideways or trending market)
FCPO 14 Sept 2021 : Trade Bullish Flag1. Yesterday 15min TF consist of 3 inside up, Bearish engulfing.
2. Today's price has fake breakout when price open below yesterday low and price close back inside the range for 15min TF.
3. 5min TF has a bullish engulfing pattern.
4. Notice the bullish flag pattern.
Strategy :
1. Wait for a breakout the flag pattern
2. 15min price pullback and maybe retest EMA14.
3. Bullish reversal CS to find entry.
Target TP is 4390~4400
FCPO 13 Sept 2021 : Trade 3 Inside Up1. Price break down trendline.
2. 3 inside up CS pattern at 15min TF.
3. 5min TF breaks market structure when price break the nearest resistance.
Strategy :
1. Wait for pullback and rejection CS @ 15min TF.
2. Potential buy zone at confluence area of uptrend and downtrend line.
3. another potential zone is when the price rejects EMA14 at 15min TF.
FCPO 10 Sept 2021 : Trade inside bar1. Short-term trade only.
2. 15min have 2 Doji indicate indecisive condition.
3. Entry chance if price close on either side of the inside bar.
FCPO 9 Sept 2021 : Trade Tweezer Btm1. 15min TF have doji CS indicate indecisive condition. The next candle after Doji usually determines the next trend.
2. 5min TF have form tweezer bottom. Testing same level 4367.
3. Both TF have oversold stochastic. Higher probability for an uptrend.
4. Bullish trend will be strong if there is bullish engulf for 5min TF.
FCPO 9 Sept 2021 : Price back in range1. Yesterday's price was able to break the significant resistance.
2. Price in the previous range zone from 4413~4560 (134 tick range)
Strategy :
1. Wait for price pullback at the potential support area.
2. Look for bullish reversal CS pattern at 15min TF.
3. Entry confirmation at 5min TF when there is morning star/hammer/Bullish engulfing pattern.
4. Limit order at 5min TF base on interesting risk and reward ratio.
FCPO 8 Sept 2021 : Trade Morning Star1. Yesterday price breakout high of 6 Sept
2. Yesterday Rejection CS at 15min TF.
3. Yesterday 5min have a Morning star candle pattern.
4. Today 15min CS has rejection with bullish CS.
5. 5min TF have bullish engulfing with a hammer.
6. 15min TF reject EMA14
7. 5min TF reject EMA50
Repeat the same strategy all over again.
FCPO Nov 2021 ContractMarket is likely to open as GAP up tomorrow morning before heading downwards.
Good Luck
FCPO (Nov 21 Contract)My view for Crude Palm oil as follows.
1) Price will make a decline towards $4336 to $4330 area, making a new support area.
2) Price shall then make a rally and heads to $4500 area (plus minus ish)
3) before making a big drop to $4000 area
In conclusion, will look to make a quick 45ticks by shorting. After the 1st session break, i will look for a long opportunity. If there is no buying pressure, then my we will look for other opportunity.
Good luck kawan!
