FCPO Week 16 2024 - Further retracement.A further retracement lower is still in play. A reversal on Friday may turn out to be only a manipulation. The move higher might only be to fill up the gap at 4300 area before continuing lower. 4200 is the area where price should be next week. Expecting a consolidation in this area before the next move higher. Overall still bullish until proven otherwise.
FCPO1!
FCPO Week 14 2024 - ready to go higher?I think FCPO has found a support last Friday. Price failed to continue lower instead there is a strong push to the upside. It is also align with the support area created in March. A push higher will probably target 4244. Once the resistance line have been breached then 4280 should be a new target.
FCPO week 13 - retracement lower?Last week bull failed to take full control. At the current level, the price looks a bit heavy and there is a bear push lower. It is 50:50 at this moment but the likelihood of another run higher might not happen next week. Anyhow a retracement lower is likely before another run higher. 4030 area is a target next week and price might consolidate after that. At this area a push lower is also a possibility so need to wait on the price action.
FCPO Week 12 2024 - bull taking control.FCPO is making a push higher. Still with bullish view unless shown otherwise. As price didn’t go in a straight line, it is expected that it might retrace a bit towards 4200 area (this is also the area to look for entry to go LONG) to fill up the gap before making another bullish push. If this happens next week, then another leg higher should target the previous high and eventually target the 4425 area.
FCPO Week 11 2024 - Retracement expected?The price is still bullish however some retracement is expected before a run higher. Expecting that this week it will make retracement towards 3995 area. Depending on the price action, another bullish push towards 4208 area before a quick run towards 4250 area (which might not happen so quickly).
FCPO Week 9 2024 - Still bearish.FCPO is coiling. Price is almost stalling last week. It goes up one day and then it got taken out the next day. So at the end of the week it is more or less moving no where. It might do the same next week within the flag formation. Still with bearish view for price to move to 3720 area which might be the support area before price eventually moving higher. The bullish view will come into picture if price move and close above the flag resistance area.
FCPO Week 7 2024 - target 3815 area.After going higher the price closed lower at the end of the trading day. It createed a high wick which indicate that there is still possibility that price is going lower. Based on this for Week 7, price might see a movement lower towards at least 3815 area. Will need to see the price action at this level to see if price wanted to go higher.
TRADE USING DIVERGENCE SIGNALS, THRILLED & ECSTATICTrade using divergence signals,
This signal is very suitable for knowing the direction of the market, entering the market and obtaining a good position.
1. Use a larger timeframe, and/or a small timeframe should follow the larger tf. It also includes
other buy/sell signals.
2. A good signal is when the signal is triggered in the supply or demand zone
30 MINUTES
5 MINUTES
CREATE ALERT for bullish/bearish divergence signals
trading IDEA FCPO 19/5Main Trend: Bearish
Short Term Trend : Bearish
Trading Plan:
• Short –
o If price unable to break above 3407. TP1= 3387 TP2=3366 SL=3420
o If price gap up but fail to break above 3433. TP1=3407 TP=3387 SL=3451
• Long –
o If price break above 3407. TP1=3433 TP2=3450 SL=3387
o If price gap up above 3433. TP1=3450 TP2=3475 SL=3420
Disclaimer: This is just my IDEA on the market, not a suggestion to open any trade. Please do not follow without any personal due diligence on the market.