FPKO1! trade ideas
18AUG23 FCPOX2023 1207PM Bull seem gaining controlIntraday trading - 5 minutes is my trading timeframe.
1.By analyzing the 1-hour timeframe, its major trend is pointing up, indicating that buyers are in control.
2.The bullish condition is reset when the price hits 3855.
3.Key levels to watch are 3902. I would like to see the 5-minute price quickly reject this level to confirm that buyers are still interested in buying. If the price stays quiet at this level, abort the setup.
17AUG2023 FCPOX23 1000AM Rising price is weakIntraday Trading - 5-Minute Chart
1.The range between yesterday's high and low was about 69 points. The rising price seems weak compared to the previous day. The environment is still choppy, which means buyers or sellers do not have major control of the market yet. A scalping strategy is suitable for this kind of environment.
2.The key levels to watch are around 3800. I would like to see the market open aggressively at this level and apply a short setup here.
16AUG23 FCPOX23 1010AM Be conservative on long positionIntraday trading: My trading timeframe is 5 minutes.
1.Yesterday, the market rose 96 points from the market open, which is quite strong. However, it appears that buyers are losing their momentum, and may still trap into a bigger choppy environment, so only apply scalping strategy.
2.The key level to watch is 3692 & 3783. If the price falls aggressively to this level, you may consider applying a long setup here, but only anticipate a quick profit.
If price start to consolidate at these two level, abort setup.
15AUG23 FCPOV23 915AM Condition is still choppyIntraday trading. 5 minutes is my trading timeframe.
1.Buyers and sellers is balance because the price is very quiet. This type of environment is challenging to trade. Be cautious of a potential price burst on either side.
2. Key levels to watch are 3780 & 3640. I need to see the price approaches either of these levels aggressively, or else condition is reset.
Look for long setup if price hit 3780. Look for short setup if price hit 3640.
14AUG23 FCPOV23 935AM Condition is choppyIntraday trading, 5min is my trading timeframe.
1.Currently, my bias is neutral. There are no clear signs indicating whether the buyers or sellers are in control. It might be a suitable situation to consider applying scalping techniques.
2.There are two key levels to watch: 3800 and 3640. If the price opens strongly and reaches 3800, consider applying a long scalping strategy. Conversely, if the price opens strongly and reaches 3640, consider applying a short scalping strategy.
3.If the price opens gently at the market open, the bias is reset, and we should look for new conditions.
11AUG23 FCPOV23 1002AM Condition is bearishIntra-day trading, 5min is the trading timeframe.
1. My bias leans towards bearish. The 1-hour timeframe shows a strong major downtrend. Price correction provides relief from the overextension of the major downtrend.
2. Bearish condition is reset when price hit 3796 or 3697.
3. 3741 is the key level to watch for setup.