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FCPO1!

FCPO WAVE 2 CORRECTION PROGRESSKey Level = 1940 From our previous analysis: “Expecting a 3-structure movement in corrective fashion to complete correction wave (ii) from my personal opinion, I would like to see the end of wave (ii) at the area of 2093 – 2026” Wave (ii) unfold into zig-zag pattern and we can see a clear 5-structure movement for wave C toward our target area. With the idea of diagonal triangle wave (5) to end wave C and (ii), there are still left some room for throw-over below 2100 area. Expecting a sharp movement toward 2217 if everything goes according to plan. Our key level is set at 1940, which is the starting point of wave 1 and as per Elliott rules “Wave 2 never retrace more than 100% of wave 1”. This wave analysis remains valid as long as our key level hold. Let’s see what the market will offer us this week. Happy Trading.
MYX:FCPO1!Long
by pengiran-
FCPO: Hourly EW Count - Dec 12th 2018Recent bullish momentum was short lived after FCPO failed to break the 2055 - 2060 zone. As of now, FCPO seems to trade within a contracting triangle. Our primary projection of an expanded triangle looks bleak, but valid nonetheless. With no fundamental element to entice market to climb higher, the last bullish leg (wave c of (e)) of the expanding triangle is likely to develop under the pretext of contract roll over. It holds true, if and only if, FCPO is traded until the end of this week within the range, bound by the upper and lower lines of the converging triangle. That being said, it is essentially important to note that a symmetrical contracting triangle is a continuation pattern, so a strong bearish momentum can fully develop right off the bat. We will take a closer look at the following area as market unfolds. 1965 - 1970 #analysis #12Dec18
MYX:FCPO1!
by eches
FCPO1! Analysis | 2018 : 3/12 to 7/12Based on 30 minutes chart, short term trader has taken cautious position toward FCPO1! . It has been trading within wedge formation since 12 November 2018 until last week. Here are support & resistance level for next week. Support: 2010, 1994, 1979 and 1963 . Resistance: 2043, 2060, 2077 and 2093 . FCPO1! might continue its uptrend even-though there is sideway signal occur based on our Trend Identifier indicator. Traders might consider to take half position instead of normal position if uptrend follow through.
MYX:FCPO1!Long
by FIRECREST
FCPO: Hourly EW Count - Nov 30th 2018An expanding triangle is anticipated. Price needs to travel beyond the 2078 price level to ascertain triangle formation. Wave c of (e) is likely to terminate between 2110 - 2125. Any strong violation of EW invalidation level @ 2137 could suggest the next major downtrend may be limited to a certain extent. Market is then expected to embark on another (probably final) journey further down south. With the burgeoning stockpile and lack of demand, it is interesting to see how market reacts at the weekly demand zone between 1863 - 1943. #analysis #30Nov18
MYX:FCPO1!
by eches