a trading method called "2618" fkli"2618" means 2 tops or double tops, then follow by retracement back to 618...then usually a downtrend...
of course, this is juz a trading idea, no indication of buying or selling...
strong resistance : 1584-1600
current resistance : 1560
current support : 1500-1520
Fcpo1
an early morning joke about slump price of CPO ... #LOLdisclaimer mode : on
basic argument : just wild guessing with baseless conclusion
story build & narrative : - just late phase of downturn on CPO price panic mode in the new normal condition after pandemic scenario (wild guess)
- replanting old and mature tree which economic age already reached (old data & facts)
- moratorium on palm oil plantation planted area by government of Indonesia (old legislation)
- to achieve great demand for biofuel FAME need more slumped CPO price more than crude oil (author hope)
Crude Oil Palm Continues to Ride the downward Coaster. Hello dear Malaysian traders,
Hoping express that everyone is in good health.
The global supply chain is infected, by this pandemic Covid. Every body was asked to stay at home, the workers are stopping from work. And there is no logistics can be done. The crude oil palm demand is also falling.
The best is, continue Short / sell with strength of downward pattern.
If you find my analysis is useful and helping you out, please do like, follow, and comment.
FCPO - Bullish ButterflyA bullish butterfly formed in hourly chart (06/04/2020). The price soared & exceed the projected target price 2 to RM 2409.
The price is sliding from RM 2409 & it may re-test the projected HOP level for another entry opportunity in the PRZ.
Entry - RM 2230
HOP - RM 2188
TP1 - RM 2320
TP2 - RM 2376
FCPO 26/2/2020 Trading Ideas, Rebound Day?Yesterday's CPO has dropped due to the drop on the sales result. Expect to rebound today.
Current: Still under downtrend
Expect to rebound and continue to drop
Long - at market open, TP before 2550(wait for retrace if manage to TP), CL 2430
Short - if break blue trend line
*This are my own trading plan, no intention to ask reader to buy/sell. Share with me if you have different ideas. Thanks.
what a year for fcpoI would like to wish all of traders a happy new year and happy trading in year of 2020. CPO is one of performing commodity. Bullish trend since Oct 2019. May year 2020 will bring a lot of profits. Do not give up in trading. Find a method that suit your personality. Feel free to message if you have any difficulties in trading.