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USD Malaysian Crude Palm Oil Calendar Futures

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CPO1! trade ideas

FCPO TRADING : 298) bearish divergencethis is haidojo and the number is 298 ... today is 16th Aug 2021 and it is the first day of the new exchange date. Now the third active month for fcpo falls on fcpo-Nov21. so, nothing excited happens tdy...the recent high of 4560 is not broken...and if you scrutinize the daily chart properly, it actually reveals that the previous high formed in mid-May 2021 at 4525 is not even broken yet. ps : WHy? I tot u said earlier that the new high is formed at 4560...? my own ps answering the ps : yes, but thr is no higher-high, higher close which is formed abv the 4525 in daily chart. ps : What? What the freak does that mean? my own ps answering the ps : That means the daily candlestick/price needs to break abv 4525 (it is already done), and closed abv 4525 (not yet) Another discovery is that the daily RSI is showing bearish divergence. It means the price continues to go up but the RSI is going down. For me, I need another gap down go down to confirm a reversal. OR the price sticks at that level for another few days...(or few weeks/months, yesss, it has happened b4). IF the price keeps moving up and creates a New Structure High by closing abv 4525 in daily chart, then turn to long on retracement. (that means buy when it dips, and be super careful! if u have no trading plan and no Stop Loss, pliz dun do that!) One more thingy, I started talking to my laptop nowadays. Whenever my gf found out that, she would ask me whom I am talking to? I normally replied, " I am talking to my pets" she would say "...but your pets are ...hamsters. They know how to read charts now? " I kept fighting, " Well, they don't. That's WHY I am explaining to them..." gf "... " I hope that is not schizophrenia in the play. Social distancing and movement control thingy is still happening here in Malaysia. I have a fren who hasn't gone out to buy anything in 2 months. ...and I just hope that I can go out for my lunch and dinner soon. that's all for tdy ...if u are frm Malaysia, be safe, stay at home... *plan your trade and trade your plan... gud luck* immediate resistance : 4476-4560(the record high) immediate support : 4330 lower support : 4187-4190 WARNING! RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures, cryptos, warrants, CFDs, spreads, options, 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!
MYX:FCPO1!Short
by HAIDOJO_trading
8
FCPO TRADING : 297) to the peak againthis is haidojo and the number is 297 ... Yesterday, another test to the peak at 4476-4525 since the July trial. This level was seen in mid-May this year. IF this level is broken and new high is created, THEN this new high is unprecedented and it has never been reached b4. This is where I call it as the "no man land" region. \ Yesterday, new level is breached at 4548, but it closed slightly lower at 4505 bcox of profit taking. This formed an "inverted hammer" in hourly candlestick pattern. Unknown to what is going to happen today, I guess we have reached the top. Why? Yesterday, fcpo-Oct gap up 100-pts and went up another 250pts! That is one of the sign that the momentum of the bull has reached its peak. It has already given out all its strength. So, look at what will happen today (12th Aug 2021). 2nd reason is, fcpo-aug is going to expire tomoro. Next Monday, on 16th Aug 2021, new active third month fcpo-Nov will emerge. However, for the bull supporters, it is not all gloom and doom. RSI of the hourly and daily chart are not at "overbought" region yet. SO, there is still chance to create new structure high. See how it plays out today. I need to post now or else, ppl will claim me "cheating", for seeing the results first and typed this thing later. HahA. that's all for tdy ...if u are frm malaysia, be safe, stay at home... *plan your trade and trade your plan... gud luck* immediate resistance : 4476-4525(the record high) immediate support : 4400-4300 lower support : 4187-4190 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!
MYX:FCPO1!Long
by HAIDOJO_trading
4
Futures Crude Palm Oil: Breakout All Time High & Retrace?On 11/8/2021 and 12/8/2021, there are an attempt of breaking it's CC chart's ATH but unable to sustain above RM4425. As per 13/8/2021, the price closed at RM4474/mt and maybe looking for a slight retracement signal. Overall outlook, still looking very bullish and the price might be able to reach up to RM4800/mt in the near time based on the supply and demand data published by Malaysian Palm Oil Board (MPOB) (bepi.mpob.gov.my).
MYX:FCPO1!Long
by ShukAzriy
2
How to trade FCPO intraday?Setup for Intraday : 1. Price near/ cross EMA200 2. Understand market structure either uptrend/downtrend/consolidation to be able to determine the SnR for the breakout. 3. Market trending confirmation by EMA14, EMA50, and EMA200. 4. Wait for a pullback when stochastic oversold/bought. 5. Make sure price reverse at least 3 candlesticks. 6. Entry when price pullback again : a) At previous support b) At EMA c) Stochastic oversold/bought again. 7. Exit a) Stoploss at the beginning price before breakout b) Target profit using Fibo Extension 1.618.
MYX:FCPO1!Education
by ArifHasbollah
2
FCPO TRADING : 295) uptrend still intactthis is haidojo and the number is 295 ... after a retest of the historical high 4430-4525 which was failed at the end of July, yesterday we could see that the bull has not given up yet... close to 170-180 pts rally up yesterday shows that bull still wants its share in the fcpo market. However, whether the uptrend momentum will continue or not is still a questionable quote. As the momentum of uptrend has a powerful swing yesterday, a few scenario might appear today. Either continuation of the momentum or the exhaustion and reverse. 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 : 4476-4525(the record high) immediate support : 4080-4190 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!
MYX:FCPO1!Long
by HAIDOJO_trading
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.
MYX:FCPOV2021
by AMianz