FCPO trade using AMA, MACD Divergence & RSI IndicatorsBacktest on FCPO trade using divergence oscillators and indicators
FEPO1! trade ideas
Will CPO Downtrend Stop at 4400? - FCPO Weekly Market Analysis -Palm oil extended losses and closed at 4664. Daily chart broken EMA200 line which indicates market closed in bear market territory.
While Stochastic K% line showed mixed signals, as in weekly chart market remains in selling signal while in daily chart, K% line crossing up at oversold level which indicates market likely to have technical rebound.
We expect market likely to bounce with immediate support level at 4400.
Suggestion Trade:
Short if stay below 4600
Target Stop Loss (resistance level) 4813
Target Profit level (support level)
TP1 4387 TP2 3961
Long if stay above 5150
Target Stop Loss (support level) 4937
Target Profit level (resistance level)
TP1 5363 TP2 5789
Disclaimer: Trading Carries Risks.
Happy Trading!! Cheers.
FCPO - Are we there yet????After losing 38% of its value from the top and a wave relationship of 1.618 in wave c to wave a at a 38.2% mark in the presence of a divergence. One has to take a closer look!
FCPO to range higherDaily candle at significant level with weekly reversal zone.
Some bullish momentum with the higher WTI oil price and Soybean price.
PALM OIL FEATURES ...palm oil features ...
high 7120 and crueent low 4920
the price will be break palm oil features lowest zone
next days wee see palm oil like 3200 to 3500
if you like my idea
please comment below
Palm and crude oil long term bullish? R u sure?! 21/June/221)On Charts : Charts consist of 3-Dimensions - The X-factor ( Time or Cycle ), The Y- factor ( Price Geometry ), AND The Z-factor ( The Speed ).. 2)On Elliot Wave / Market Structure : Unlike Textbook written rule : ALL Impulsive wave comprise of ONLY a-b-c sub-waves NOT 1,2,3,4,5 waves.. AND there is NO Truncated 5th wave BUT ONLY wrong wave counts...
Disclaimer
FCPO - Bear taking breathAfter a series of 8th falling trading days, price of FCPO constructed a short term bullish AB=CD pattern in daily TF. It's been oversold but not in extreme way yet.
Current price is hovering around 5477 (the neck line of a bigger pattern) and may have a small rebound before a continuation.
May focus on the price action along with confirmation of oscillator especially the neck line region for a the 1st TP of 6070. If the price manage to piercing thru the red dash trendline, the 2nd TP would be 6512.
-Signing Out-
Downtrend Continue in CPO?Palm oil extended losses and closed at 5454 with long black formed which indicates bearish signal.
While Stochastic K% line both weekly and daily chart remained crossing down indicates downtrend signal.
However, please take note that stochastic K% line in daily chart landed at oversold level as well as candlestick landed at the of Exponential Moving Average 200 (EMA 200), which indicates market likely to have technical rebound.
We expect market likely to bounce before move lower with immediate resistance level at 5700.
Suggestion Trade:
Short if stay below 5400
Target Stop Loss (resistance level) 5600
Target Profit level (support level)
TP1 5200 TP2 4800
Long if stay above 5900
Target Stop Loss (support level) 5700
Target Profit level (resistance level)
TP1 6100 TP2 6500
Disclaimer: Trading Carries Risks.
Happy Trading!! Cheers.
FCPO - A Larger Picture of this bearish moveAfter a few bearish days, I turn to the larger timeframe for a larger picture of the price / trend .
Bearish move this week crossed the Weekly trendline with strong momentum.
I see price continue moving slowly in the next few weeks before another bearish run towards the 4500 level.
Consider this as the leg 1 of its bearish move, it created a lower low. And then rebalance for a few candles before another huge candle.
Estimated price to reach target at reversal zone around: Aug - Oct this year.
If you liked this idea or if you have your own idea about it, please do not hesitate to write in the comments.
Thank you
FCPO view AS per the charts - the FCPO contract is expected to take a support at 5050-5100 and then bounce to 5900-6000 before falling down to 4100 leves
FCPO Bearish move into Daily reversal zoneSupport seems broken as the bears are gaining strength.
Daily chart seems to have a strong bearish momentum that breaking into the Reversal Zone1 & 2.
Zone 2 is the stronger 1, if broken, price seems moving downwards towards -61.8% of the daily Fibonacci retracement range.
There will be a short opportunity if the bulls fade again as second confirmation, in the lower timeframe.
FCPO Enters reversal zone?There might be a short bullish run as price reaches reversal zone and Weekly trendline.
Current momentum shows some fading of bearish momentum.
Short-term bulls may run for a while before the bearish momentum can push - broke through the reversal zone.
FCPO Short run Analysis:
Weekly price closed @ RM6,353PMT (-180) Price move in larger range; went up towards the dotted trendline in the daily time frame and closing on Friday downwards.
Indicators: -
Value Chart: neutral
EMA-13 Line: neutral
RSI: neutral
Weekly candle (see pg.2): Price showing a stronger bearish momentum as Friday closing price went down sharply.
Next Week: Price seems narrowing ranges between the top dotted trendline and the Base trendline in the daily chart. Bearish momentum may continue to 6100 level or further - reversal zone; then move in narrower range before breaking out.
Price range: 5900 – 6250 PMT
FCPO TRADING : 327) gartleys in the playthis is haidojo and the number is 327 ...
Juz a brief update...2 gartleys in the view...
1st one, possible reversal at 6310...counter-trend trade, cannot hold too long...
2nd gartley, possible reversal at 6080...another counter-trend trade, same issue...cannot hold too long...(this is what I probably would do, no indicator of buy/sell, trade on your own risk)
9th June 2022
That's all for the update today.
*plan your trade and trade your plan... gud luck*
resistance : 6650-7080 (6310 possible reversal point)
lower support : 5380 (daily critical support)
support : 6310-6400
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!
Will CPO Continue Selling?Short if stay below 5900
Target Stop Loss (resistance level) 6098
Target Profit level (support level)
TP1 5702 TP2 5305
Long if stay above 6500
Target Stop Loss (support level) 6302
Target Profit level (resistance level)
TP1 6698 TP2 7095
Disclaimer: Trading Carries Risks.
Happy Trading!! Cheers.
** DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK **
FCPO almost cemplete the harmonic...The harmonic almost end... RSI is already at oversold. Wait for candle confirmation...
Will Palm Oil Test 6800 Level?Technical View:
market closed slightly higher after tighter range move with pin bar formed, which indicates market remained cautious on palm oil outlook
While Stochastic K% line shows mixed signals, Daily chart showed K% line crossed up which indicates uptrend signal, but weekly chart remained in uncertain level at 47.58.
We expect market likely to move higher with immediate resistance level at 6700.
Suggestion Trade:
Short if stay below 6200
Target Stop Loss (resistance level) 6393
Target Profit level (support level)
TP1 6007 TP2 5621
Long if stay above 6635
Target Stop Loss (support level) 6442
Target Profit level (resistance level)
TP1 6828 TP2 7214
Happy Trading!! Cheers.
** DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK **
FCPO TRADING : 325) in the crossroadsthis is haidojo and the number is 325 ...
For the first half of the May, price moved in downtrend until it hit bottom at 5925 on 19th May22. After that, it made a series of jagged uptrend and here we are...at the crossroad of 6400, going down we see some cushion of support at 6310, and 6080../higher level we could expect some resistance near 6650, 7080...
As for the diagram, you could see "HL - NSH --ISL" they stand for "Higher-Low, New Structure High and Initial Structure Low". In this sequence, normally I would expect a reversal to happen where I might shift to looking for range for a short position, but this one is a bit special...as price kinda scurrying right below the support-turn-resistance line at 6310 and refused to give in. So, Bear hasn't won yet. Not quite yet. Now as the price moves back abv the support line of 6310, then we could see some momentum moving upwards but till more higher-highs and new higher-lows are formed, we are not sure whether this is a sideway move or just a crazy Bull trying to warming up...
2nd June 2022
That's all for the update today.
*plan your trade and trade your plan... gud luck*
resistance : 6650-7080 (6310 possible reversal point)
lower support : 5380 (daily critical support)
support : 6310-6400
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!
Bullish momentum fading in hourly chartShort term momentum bearish building.
Short-term trade may work till around 6300 level.
Disclaimer:
This report is for information purpose only. Technical Analysis tools used may be different on case by case basis depends on price movement and overall structure. kkgoh not be liable for any trade decision, special, indirect, incidental or consequential damages, loss of revenue or profits, downtime or delay, claims by the receiver.
Commodities Jubilation and TrialsDeep commodity cycles analysis comparing the performance of crude oil and palm oil. In the last 17 years, there were periods where increase in fuel commodities drives future output prices of palm oil(although there could be other macro factors not discussed here). Current palm oil prices rally performance is the most stellar with over 270% increase in price from market bottom. Should a fall happen,due to external catalyst (like the last global financial crisis), the correction could be greater than 60% as the base level corrections typically happens circa 25-35%.
Will CPO Retest 6800?Technical View:
Market closed higher after reversed earlier session gains and formed bearish pin bar which indicates strong selling force in the market
However, Stochastic K% line shows market trend uncertain with K% moving at 55 and 47 level in daily and weekly charts respectively.
We expect market likely to move lower with immediate resistance level at 6500.
Suggestion Trade:
Short if stay below 6200
Target Stop Loss (resistance level) 6399
Target Profit level (support level)
TP1 6001 TP2 5603
Long if stay above 6615
Target Stop Loss (support level) 6416
Target Profit level (resistance level)
TP1 6814 TP2 7212
* DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK *
Double Top Projection on FCPOA double top is a reversal pattern that is formed after there is an extended move up. The “tops” are peaks that are formed when the price hits a certain level that can’t be broken. After hitting this level, the price will bounce off it slightly, but then return back to test the level again.
Entry order & position to take
With the double top, we would place our entry order below the neckline because we are anticipating a reversal of the uptrend. As we are anticipating the price to be going down, we'll take short position (sell high now, buy low later)
Target Profit
The drop is usually approximately the same height as the double top formation which is shown by the red arrow allowing us to maximize profits from this trade by setting up our target profits.
Protective Stop Loss
As a protective measure towards the unfavorable price movement, we could set stop order above the peaks of the double top.
Downtrend Continue in CPO? 6100-5500Technical View:
1.Market extended losses after tighter range with doji formed
2.Stochastic K% line having mixed signal as weekly chart showed K% line crossing down indicates sell signal, while daily chart crossing up at oversold level which indicates buy signal.
We expect market will bounce before continue its downtrend with immediate support level at 5900.
Suggestion Trade:
Short if stay below 5900
Target Stop Loss (resistance level) 6100
Target Profit level (support level)
TP1 5700 TP2 5300
Long if stay above 6350
Target Stop Loss (support level) 6150
Target Profit level (resistance level)
TP1 6550 TP2 6950
Happy Trading!! Cheers.
** DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK **
