FCPO 21 Feb 2023 : Reaccumulate/Distribution?1. So far price still uptrend movement in the channel.
2. Price still test EMA50 15min.
Expect sideway movement to form reaccumulation or distribution pattern.
5min :
1. Price breakdown EMA50 multiple times but back up again = Strong buyer still have upperhand
2. EMA12 still above EMA50 = uptrend
FEPO1! trade ideas
FCPO TRADING : 336) sideway for too darn long...this is haidojo and the number is 336...
sorry folks! I am truly very sorry! After a long 3 months, I have returned...
The main reason for my absentee for the past few months is fcpo has been trading sideway and it has been absolutely NOTHING much to discuss...
fcpo is killing me with sudden ups, sudden down, when the trend is supposingly confirmed, then suddenly the tide has changed and it moved the opposite direction and killed all my trades! All this is driving me crazy....so I come with the idea to take the game to the next level by trying to trade "outsider" such as e-micro gold futures (MGC )and micro e-mini dow jones (MYM) and not focusing so much resources on double fcpo and fkli...
Back to business, the technical part, about the price-action. As we can see frm the chart, now we are at the crossroad, 4136...some resistance level, the blue line...and price might fall back to support level at 4000...look for some slowing down and reverse...if it hits the ceiling at 4255, the next resistance level, then we should be looking for some slowing down and reverse...that's all for tdy
**plan your trade and trade your plan... gud luck**
resistance : 4255-4300
overhead resistance : 4130-4170, happening now
support : 3970- 4000
lower support : 3730-3830
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…this is not a signal service channel and DON'T TREAT IT LIKE ONE!
TRADE AT YOUR OWN RISK!
FCPO 17 Feb 2023 : Continue uptrend or consolidate?Yesterday :
1. SnR : Price sustain above the RbS level.
2. Channel : Price respect uptrend channel
3. MS : Price make uptrend structure
Planning for Today?
1. SnR : Price may test nearest supply level around 4100~4120
2. Market Structure: For now BUY MS is still intact. Monitor if the price breach MS.
3. EMA: Price still not tested EMA50. Today's price may be consolidated to test EMA50
4. MACD : We see a possible bearish divergence. But it can be retracement only unless the price breakdown buy MS.
Possible bullish course for FCPOFCPO could potentially be on its bullish course to reach RM 5000. However, there could be some room for the price to drop just slightly to complete of what could be a flat correction in the 2. An immediate break from the zone area highlighted with a box could suggest that flat correction have completed and might be on the 3 of (3) wave.
Disclaimer
This is NOT buy/ sell call but for learning purposes.
FCPO 16 Feb 2023 : High Demand?Yesterday :
1. Price able to break down uptrend channel. However, the support area is still holding up.
2. Maybe the price did reaccumulate again before the gap-up today.
Today :
1. Price gap up due to high demand following SBO demand.
2. Price so far sustain above the supply zone.
3. Price still not yet at the immediate resistance level. If breaks above, possible to reach the next resistance level around 4100.
5min :
1. SnR: Price break previous resistance level and sustain above it
2. Market structure: The morning session price is able to make an uptrend structure.
3. EMA12 is above EMA50 : Uptrend
4. Price respect EMA12: Uptrend. This is an entry opportunity today.
If price breakdown MS, the possible larger pullback to close gap. Monitor if price able to break EMA50
FCPO 15 Feb 2023 : Uptrend continuation?1. Price reject mid-channel and retest lower channel. If the channel is still intact, high chance to continue the uptrend.
2. Market structure: Buy market structure is still intact unless the price breaks the 3906 level.
3. Price still plays around supply zone
4. Price reject EMA50 at 30min TF.
New contract
15min :
5min :
Price in sideway mode but uptrend still intact
FCPO 14 Feb 2023 : Price breach downtrend channel?1. Channel/Trendline: Yesterday price retest and reject mid-channel before going up to test the upper channel. This indicates strong buyers in the market because not allow prices to go lower channel.
2. SnR: Price plays in the support zone area and is still not decided yet on the direction.
3. Fibo: Price rejects 236 fibo level indicates sideway market still in play. The price might go lower to the 786 level if not able to breach and sustain above the 236 level.
4. MACD: There is no interesting divergence yet. We only see green divergence indicating uptrend movement in play.
FCPO 13 Feb 2023 : Sideway/Continue downtrend30min view :
1. SnR: Price rejected the test support area and try to cross the resistance area. However not sustain above the zone.
2. Channel/TL: Price overshoot the TL but is not sustainable to go further.
3. MACD: still not shows an indication of bullish divergence even though green MACD already happening.
5min view in the comment
FCPO 10 Feb 2023 : Bearish divergence in progress?1. SnR: Price not able to sustain above resistance zone 3994. This indicates a strong seller
2. Channel/Trendline: Price break up trendline - Indicate sideway/change direction.
3. Oscillator: MACD from yesterday shows a bearish divergence
Expectation :
1. Price will continue bearish momentum until at least close the previous gap.
Trading plan as usual :
1. In Early morning, monitor the nearest possible SnR
2. Monitor EMA12 1min TF for entry
Short for today?FCPO for April 2023 shows a sign of rejection on resistance 3995 yesterday
- if the pattern continues, today we might expect some opportunity to short
- analyze based on the trend on TF15 min
- EMA crossing appear in TF5 min, approaching for TF15 min
- strong support around 3943, if the price break, potentially will go further.
FCPO 9 Feb 2023 : Bearish Divergence?30min TF :
1. Price break resistance and test supply zone and push back below the resistance.
2. Price break uptrend channel. Indicate SW for 30min or change the trend.
3. MACD shows bearish divergence.
If the price goes for bearish divergence, possible to close the gap and target to be around 3860.
5min TF :
1. Price crosses EMA50 : Sideway/Change trend
2. EMA12 crosses below EMA50 : Downtrend.
Expect price sideway before continue direction.
FCPO continuing it's bullish momentum?In the short term, FCPO will very likely retest its trendline around 3930++ and hence completing its 3 waves structure in the B. A break below 3815 would invalidate this assumption and suggest that b is just starting.
Disclaimer
This is NOT buy/sell call but for learning purposes.
Another movement possibility for fcpoThis option suggest that fcpo is still in its corrective structure, quite possibly an expanded flat and could reached RM 3500 ++ in the near term. Structurally, (C) is a 33333 ending diagonal (expanded version). Ultimately, this assumption will be invalidated if the price breaks the 3991 level and therefore validated my previous assumption of this is a start of wave 1 c.
Disclaimer
This is only for educational purposes and NOT a buy/ sell call.
Bullish Momentum for FCPO? www.tradingview.com
FCPO could start its bullish momentum all the way to RM5000 ++ completing its major correction C structure (ZigZag), this of course is based on my biased Elliot Waves mapping. The only time we can be absolutely certain is when the market has broken past the RM4300 area until then it is only a speculation. However, there are early evidences that showed this assumption might be valid because:
1) Candlestick has closed above the area of change of character (market structure)
2) Price has bounced off the fib retracement level 0.618 - few times actually
3) Regular flat correction seems to have completed
Disclaimer:
This is not buy/sell call but rather for educational purposes only
FCPO AKAN MENUKAR TREND HARINI Yesterday shows, market price is determined to sell however, price is defending well at bottom dip support
thus, we believe today market will turn to bullish as draw in the chart
carefully trade today cuz there will high volatality today and we expect market will open gap up more than gap down and we make close high today!