corrective phase to continue down ?this week would be difficult for intraday... m15 tf show correction wave still in progress.. once it break the channel price expected to drop till 4.5k..
CPO1! trade ideas
FCPO WEEK 45 2024: BULLISH.FCPO is bullish. However it starts to look heavy and overbought. Waiting for a retracement lower might be a good idea before committing. If the retracement holds and creates a support area then there is good probability that FCPO will move higher and possibly creating a new higher high above 5000.
DEMAND AREA & INSIDE BAR BREAKOUTHello everyone.. today I want to show you how I set up my entries. Based on my experience and analysis, you can check out this video to follow along. First, on the larger timeframe, we see that price has made a pullback in the demand area. Every time there is a big price movement like this, you can mark it as a zone like I’ve shown. Switch to the line chart, and you'll see the demand area there. Once you’ve marked the zone, don’t enter immediately. Go to a smaller timeframe to see what’s happening. On the 1-minute timeframe, there is an inside bar breakout. Wait for the candle to close with a full body, and then enter. The same goes for the two zones I’ve marked. Keep practicing to sharpen your eye for these setups!
BREAKOUT STRATEGYThe way to use the inside bar candle together with SNR (support & resistance) zones is by waiting for an inside bar to form near the SNR zones. When the price breaks out from the inside bar, open a position in the direction of the breakout, but ensure it aligns with the reaction at the SNR zones. If the breakout occurs at the resistance zone, consider entering either a continuation or reversal trade, and similarly, if the breakout happens at the support zone, consider entering.
FCPO Daily Analysis for 22 October 2024 - A Detailed LookFCPO market was driven by a combination of bullish technical patterns and positive external news. The breakout from the symmetrical triangle on the 1-hour chart signals a potential trend reversal, and the market's ability to maintain its gains throughout the session suggests that buyers are firmly in control. However, the RSI levels indicate that the market may be entering overbought territory, and traders should be prepared for a potential pullback in tomorrow's session.
For tomorrow, the strategy is to wait for a pullback to key support levels, monitor the RSI, and look for confirmation of the bullish trend. With global demand on the rise and output forecasts declining, the FCPO market is poised for further gains, but traders should remain cautious and keep their risk management strategies in place.
Diomand pattern completedDiamond pattern completed as well as corrective counting.. let see tomorrow morning session how the chart is... if it start to create native wave then we may trade follow the trend... if it continue corrective wave to create triple3 then protect our capital
INSIDE BAR WITH SUPPLY & DEMANDHow can I get 100 ticks in one day? First, when the price opens and closes at resistance on the 15-minute time frame, I move to a smaller time frame to look for a setup. On the 5-minute time frame, there is an inside bar candle. When the candle breaks the inside bar, I immediately enter. Then, there’s another setup where the price makes a pullback at the supply area, which is a drop-based-drop pattern on the 3-minute time frame. Usually, when a big movement happens, we wait for the price to make a pullback in the supply and demand area.
FCPO WEEK 43 2024: Bullish retracement.Price has been moving higher after penetrating the neckline of the rounded bottom. Price stays above the neckline for the passed 2 weeks and it should be the indication that momentum is building for a move higher. However expect that price will make a retracement lower to the support area. If this area holds then price should continue higher and possibly making a new higher high.
Happy trading week.
is corrective wave done ?!!! tricky part on corrective wave.. got few possibility
1) corrective wave done continue for motive wave
2) Y not yet complete as it continue to create triangle for another 2 wave
3) double3 in progress
Trading Plan ??
FCPO Daily Analysis for 15 October 2024 - Market ReboundsToday’s FCPO market on 15 October 2024 demonstrated a strong recovery from previous lows, primarily driven by buying interest around key support levels and news regarding lower palm oil exports and global crude oil price hikes. Technical indicators on both the 1-hour and 5-minute charts show a potential shift towards bullish momentum, although the market may encounter some resistance near RM 4,300.
For tomorrow’s session, traders should watch for any pullbacks toward the RM 4,220 level as a potential entry point for long positions, while also being cautious of resistance at RM 4,300 and RM 4,350. With global palm oil data and external market factors continuing to influence price movements, it’s essential to stay updated and agile.
The FCPO market is always full of surprises, and today was no exception. Stay sharp, and let the charts guide your decisions!
FCPO: Bullist Confirmed4H Chart Trading Plan: Confirmed Bullish Pattern
Target Price 1 (TP1): 4264
Target Price 2 (TP2): 4162
Cut Loss (CL): 4372
Entry Strategy:
Monitor the 15-minute time frame (TF15min) for a red signal to initiate a SHORT position.
If tonight's entry is missed, look for entry opportunities on the 5-minute time frame (TF5min) during tomorrow's morning session.
FCPO Daily Analysis for 14 October 2024 - Market Dynamics UnveilCombining H1 and 5-Minute Charts for Tomorrow’s Trading Plan
Based on the technical analysis of both the H1 and 5-minute charts, the following conclusions and trading strategies can be drawn:
Watch for a Breakout Above 4,400 (H1):
A confirmed breakout above the 4,400 resistance level on the H1 chart could provide an opportunity for long positions, targeting 4,450 and possibly higher. The key is to wait for a strong bullish confirmation with accompanying volume.
4,240 Support Holds the Key (H1):
Should the price fail to hold 4,240 on the H1 chart, a significant downside move could occur. Look for short opportunities with potential targets around 4,200 and possibly 4,160.
Intraday Focus on 4,320 - 4,300 Zone (5-Minute Chart):
On the 5-minute chart, the market is showing signs of exhaustion. If the 4,300 support holds in early trading tomorrow, a quick bounce toward 4,320 is likely. However, if 4,300 is broken, look for a potential move lower.
RSI and Momentum Indicators:
Keep an eye on the RSI for any signs of divergence or overbought/oversold conditions, as these could provide early warning signs for reversals.
Ready for breakout at level 4.6k !daily chart still shows trending to break 4.5k.. with coming el nino, it might help FCPO reach up to 4.6k
FCPO menbuat diamondchart fcpo membuat bentuk diamond utk meneruskan penurunan... apa pandangan anda
FCPO Weekly Analysis for Week 7-11 October. Prepare!The FCPO market for the week of 7-11 October demonstrated strong bullish momentum, with the price breaking key resistance levels and forming higher highs. The key levels to watch for the upcoming week are the resistance at 4,322 and the support at 4,200. Traders should look for breakouts or pullbacks to these levels as potential entry points. Utilizing tools such as RSI, moving averages, and volume analysis will help in confirming trades. With proper risk management and a solid trading strategy, traders can capitalize on the opportunities presented by the current market conditions.
Is CPO Malaysia can Breaout 2022 Resistance?Soon MYX:FCPO1! will test it's long term Resistance (since 2022) at MYR4,500.
The question, can it Breakout now?
Try to look at Monthly Chart and you will see that since 2022, CPO Malaysia has been Up Trending according to SMA60. You can expect the fall from early 2022 up to now is within Technical Correction phase.
And the time is up.
I predict CPO Malaysia will Breakout MYR4,500 soon, help by La Nina potential.
FCPO Analysis 9 october - correctionThis chart offers a dual-timeframe analysis for the Crude Palm Oil Futures (FCPO) contract, where the left panel shows the 1-hour chart, and the right panel represents the 5-minute chart. Below the price action on both panels, we have an RSI (Relative Strength Index) indicator, which measures the momentum and helps in identifying overbought or oversold conditions.
Overview of FCPO Market on 8 October 2024The chart shows two timeframes: 1-hour (on the left) and 5-minute (on the right), along with several technical indicators and horizontal lines that represent price levels. These timeframes provide a mixed view of both broader trends and more granular market behavior.
PRACTICE MAKES PERFECTOn the 30-minute timeframe, the inside bar has already broken out. On the 5-minute timeframe, a pullback occurred at the 0.5 Fibonacci area, which I consider to be wave 2 in Elliott Wave theory. My reason for entering the trade is that the candle broke out of the inside bar on the 5-minute timeframe, indicating the potential formation of wave 3. The price has also reached the weekly resistance zone. This is my setup for today.
AGGRESSIVE ENTRYOn the 30-minute time frame, a candle formed an inside bar. I decided to enter because the candle had broken out of the inside bar, and the price made an unexpected rise. I held my position until it reached the resistance trendline. I only focus on this technique to make a profit. I will continue practicing and backtesting to build more confidence.
Next Target Predictions of FCPOTrend Indicators:
Moving Averages: The chart appears to use a combination of shorter-term moving averages (possibly 5-period and 10-period moving averages), showing a recent downtrend after hitting the resistance level.
Bollinger Bands: The price has moved outside the upper Bollinger Band earlier, indicating overbought conditions. The bands are still wide, showing increased volatility.
Buy/Sell Signals:
There are multiple "Sell" signals at recent highs, which coincide with the price nearing the resistance levels.
There is a "Buy" signal at a lower level just below 4,240 MYR, indicating the potential for support around this level.
Stochastic Oscillator: The stochastic indicator at the bottom shows the stochastic levels at 80.46 (overbought region), indicating a potential pullback in the near term.
Next Target Predictions:
Immediate Resistance: The price has tested the 4,283 MYR resistance level multiple times, and this will likely be the next key level to break. If the price can break and hold above 4,283 MYR, the next upward target could be around 4,300–4,320 MYR based on historical levels and round-number psychological resistance.
Downward Support Target: If the price fails to break through the 4,283 MYR resistance, it could pull back towards the next support level around 4,240 MYR, with a deeper downside potential to around 4,120 MYR, which is the stronger support shown in the chart.
Conclusion:
Currently, the price is near a key resistance level of 4,283 MYR. If it can break this level, the next target is likely around 4,300 MYR. However, given the overbought signal in the stochastic oscillator, a pullback to around 4,240 MYR or even lower toward 4,120 MYR is also possible in the near term if the resistance holds.
FOLLOW THE TRENDFollow the trend until it bend..The market being in a trend is the main thing that eventually gets us in a trade. That is a pretty simple idea. Being consistent and making sure you do that all the time is probably more important than the particular characteristics you use to define the trend. Whatever method you use to enter trades, the most critical thing is that if there is a major trend, your approach should assure that you get in that trend.
BACK ON TRACKToday, it became a setup... this inside bar technique works well in support & resistance areas... when the price is in the S&R zone, we have to wait for the candle to form an inside bar... whether the candle breaks up or down. In my experience throughout my trading career, when a breakout occurs, the price will break straight through and rarely makes a pullback. Still maintaining a risk & reward ratio of 1:2 or 1:3.
