August sideways box, ranging roughly btw 2600-2800 zone has been broken, and recent test shows price chosen to stand above it aka bullish. Immediate resistance is near, R1 @ ~289x-291x ; while new support is formed, S1 @ ~278x-280x . Sideways-Up situation for me... Staying above immediate UTL, L1, may send price higher above >2900 Else, we may be in another...
Week 37: 07 to 11 September 2020 FCPOX 2020 analysis Last week the price broke the resistance level, however it was not a clean break. It means, it was not really a sign to be bullish yet. We are anticipating two possibilities: The key to observe is RM 2,740 - 2,750, we will see the behaviour of Price Action in this area. (1) If the price bounce at RM 2,745...
Week 36: 31 August to 04 September 2020 FCPOX 2020 analysis If you are still holding your LONG position from last week, now it is a good time to liquidate your position. Currently the price is back to our Week 34 position, whereby the price is in the middle of the range, quite close to the resistance level and no momentum at all. The same as the dead silent...
Week 35: 24 to 28 August 2020 FCPOX 2020 analysis This week is a continuation of last week consolidation, the price remains inside the up trend channel. As we are waiting for the price to break the channel, as at today, on the lower time frame we see that the potential to be bullish is higher than last week. This week my personal call is rather risky as the...
Week 34: 17 to 21 August 2020 FCPOX 2020 analysis If you are following last week analysis, we were bullish for FCPOX 2020. However, this week the price is exactly in the middle range which is risky for us to trade. The current range is around RM 200 with an immediate resistance at 2725. This week no trade call, as the Risk Reward Ratio is only 1R, practically...
Week 33: 10 to 14 August 2020 FCPOX 2020 analysis Last week the prices were ranging in a tight consolidation, our Buy Limit was not triggered yet; my view towards FCPOX 2020 remains the same. Buy at retracement level, hence we minimize our risks. This week trade call similar to last week with a small refinement: Buy Limit at 2611 Stop Loss at 2560 Take...
Weakening momentum finally coming into effect. 🐻 First close below UTL-L1 since July, potentially find L2, which resides near S1: ~260x Sideway box between 2600-2800 thus far, if S1 fails, look for next support zone, S2. Major Levels to Watch: ⚠️ R2: 276x-8x R1: 270x-2x S1: ~260x S2: ~250x My latest mobile updates available on TeL egr am ;) Happy...
Week 32: 03 to 07 August 2020 FCPOX 2020 analysis This morning the market open with a gap up and stopped at 2724 (at the same level as previous high). For here on, we better wait for a better signal, because: (1) if the 2725 level is being respected, it means the market will form a double tops. (2) if the 2725 level is broken with a clean break (bullish...
Strong rally, as price continues to break higher, momentum has been weakening since July15. Thus, may see some sideways consolidation ahead, before market decides its next major move. At the moment, still early to set the boundaries for potential sideways move ahead, For now, potential range between 260x-270x, or wider, will update as price develops. :) Happy...
CPO still playing within 230x-240x range, which has pretty much defined price movements back in June. Next test on S1: ~230x will be crucial for CPO mid-term (3Q2020) outlook. Slight biased to the bears as of writing. Shall S1 fail on next test, major target will be S2 zone. Levels to Watch: Major R: 244x-6x Major S1: 230x-3x Major S2: 220x-3x ...
Thursday June25 gap down violated Daily UTL... 👇🏻 Momentum weakness, look to S1 as potential first support zone. Important Levels to Watch: R2: ~246x R1: 240x-2x S1: 240x-3x S2: 220x-2x Happy Hunting! 💰🚀 -JK- MyTradingSpace
Idea #1 : 1st Wave Extension Expecting an expending or running flat is developing for wave 4 and a movement higher toward 2440 to complete this motive sequence. Idea #2: Wave 5 expending ending diagonal triangle We would like to see a strong movement toward 2160 area for this idea.
will it break 2600 0r still correction