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Fcpo1

FCPO Trading SchematicThere is 3 type of price reaction towards SnR i) Rejection ii) Breakout iii) False breakout How to trade (i) rejection @ M15? 1. Price close with reversal CS - long wick 2. M5 has engulfed at least 60% 3. Set Limit order near the neck of close M15 CS. How to trade (ii) breakout @ M15? 1. Price close outside the SnR 2. 2nd CS also close outside SnR 3. Entry after rejection @ M5 How to trade (iii) false breakout @ M15? 1. Price close outside SnR 2. 2nd CS close inside SnR 3. Immediate entry after 2nd CS close. 4. Usually the aftermath range is the biggest after price consolidation. Another addition entry is Rejection-continuation : 1. Always happen in strong trend as a pullback 2. CS rejection @ M15 3. CS engulf @ M5 4. Immediate entry after rejection CS close
MYX:FCPO1!Education
by ArifHasbollah
FCPO Trading Strategy for False Breakout and Valid BreakoutPrice downtrend continuation when new day price open inside the previous trading range. Valid breakout = trend continuation Therefore, we use 1min TF to look for entry. 1. Break market structure. 2. EMA 14,50,200 trend. 3. Stochastic 4. Reverse-retest 5. Stoploss 6. TP False breakout = reversal/rejection Use 15min to find entry 1. Entry after 2nd CS close back inside the zone 2. Stoploss 2xATR @1min chart. 3. TP opposite Support / Resistance.
MYX:FCPO1!Education
by ArifHasbollah
FCPO Identify Fake Breakout and How to Trade it?When the price is near the SnR it is where get it will get tricky...either the price want to continue the trend or reverse? The false breakout strategy : 1. Timeframe 15min 2. Identify strong valid SnR 3. Draw the zone by pick the wick and the neck. 4. If price breakout and 2nd CS close inside the zone, it is a false breakout and entry position after 2nd CS close. 5. TP for the false breakout can be the opposite SnR. Valid breakout strategy: Trend continuation 1. Use 15min and 1min chart for confirmation.
MYX:FCPO1!Education
by ArifHasbollah
FCPO Crude Palm OilBullish is trying very hard to push against its 5 & 15 min resistance. Bullish volume in the 1HR chart seems to be working too hard with a little too less, or I can say a formation of Doji. However, the price just closed above the resistance, we will be looking closely at the next candle reaction, whether the bullish is getting weaker or stronger. Here some tip, if the bearish candle goes down easily closing below its support area + with little effort in the volume, then you know that bearish is stronger than the bullish. Again, nothing is clear now, Price is tight right now between various numbers of EMA. Waiting for the "kettle" to reach its final temperature before bursting out to the upside or downside. If it goes up, we can see it will go up to 4300 area or even better, closing the gap. If it goes down, I believe that it will still not going too far, probably will retest again at 4080 area, but hey, money is money. Good Luck.
MYX:FCPOV2021
by AMianz
July21: FCPO (Daily) - Wide Range, Sideways Up...🐮📈Maintain sideways view, price continued rallying on weak volume, reached prev R@ 406x-418x area. Expect some retracement upon violating steep UTL, price may find support near S zone. Major S&R zone R1: 406x-418x Major R2: ~4.4k S1: 366x-386x Major S2: 3.2-3.4k Looking for swing long on retrace. Maintaining longer holding period positions lately due to lack of monitoring time. Lesser posts here, due to TV deleting some of my posts (😤). I still post more in my own public channel. :) Happy Hunting! 🚀 -JK-
MYX:FCPO1!Long
by jeanne_k