FCPO1! trade ideas
18AUG23 FCPOX2023 1207PM Bull seem gaining controlIntraday trading - 5 minutes is my trading timeframe.
1.By analyzing the 1-hour timeframe, its major trend is pointing up, indicating that buyers are in control.
2.The bullish condition is reset when the price hits 3855.
3.Key levels to watch are 3902. I would like to see the 5-minute price quickly reject this level to confirm that buyers are still interested in buying. If the price stays quiet at this level, abort the setup.
17AUG2023 FCPOX23 1000AM Rising price is weakIntraday Trading - 5-Minute Chart
1.The range between yesterday's high and low was about 69 points. The rising price seems weak compared to the previous day. The environment is still choppy, which means buyers or sellers do not have major control of the market yet. A scalping strategy is suitable for this kind of environment.
2.The key levels to watch are around 3800. I would like to see the market open aggressively at this level and apply a short setup here.
16AUG23 FCPOX23 1010AM Be conservative on long positionIntraday trading: My trading timeframe is 5 minutes.
1.Yesterday, the market rose 96 points from the market open, which is quite strong. However, it appears that buyers are losing their momentum, and may still trap into a bigger choppy environment, so only apply scalping strategy.
2.The key level to watch is 3692 & 3783. If the price falls aggressively to this level, you may consider applying a long setup here, but only anticipate a quick profit.
If price start to consolidate at these two level, abort setup.