05/08/2021 FCPO ELLIOTT WAVE ANALYSISHi Traders,
Update on FCPO wave count on hourly chart.
Happy trading.
FCPO1! trade ideas
FCPO Short Long TermFCPO in resistance zone, looking for short opportunity. Depend on today price action. Price possible retrace before going down.
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.
FCPO Crude Palm Oil: Trade with Support, Resistance and Break upFCPO - Trade with Support, Resistance and Break up
15min FCPO chart set up with testing combination with S&R, VT MCDX Smart Money Pro & VT Stoch indicator's winning rate
(Disclaimer: for demonstrating own planned trade records study only and education purpose, not for recommend to buy or sell. Trade at your own risk)
FCPO PossibilityFCPO in support area. Possible going up to resistance or going down to next support.
FCPO - October 2021 - Mapping - 04/08/2021Breakout (Buy), Fail To Breakout (Sell), Break-in (Sell), Fail To Break-in (Buy). TP at the nearest lines.
Valid on the said date. Enjoy and feel it. Hopefully, it's useful. This is for study and educational purposes only.
FCPO Crude Palm Oil: Trade with Support, Resistance and Break upFCPO - Trade with Support, Resistance and Break up
15min FCPO chart set up with testing combination with S&R, VT MCDX Smart Money Pro & VT Stoch indicator's winning rate
(Disclaimer: for demonstrate own planned trade records study only and education purpose, not for recommend to buy or sell. Trade at your own risk)
FCPO - October 2021 - Mapping - 03/08/2021Breakout (Buy), Fail To Breakout (Sell), Break-in (Sell), Fail To Break-in (Buy). TP at the nearest lines.
Valid on the said date. Enjoy and feel it. Hopefully, it's useful. This is for study and educational purposes only.
DAILY FCPO COMMENTARYComments:
After FCPO hit 2nd target 4437, now experiencing retracement toward 4040 support zone
Our preference:
A candle close below 4040 support level look for further downside with 3852 as target.
Alternative scenario:
Trader may look for buying opportunities once price break above 4437 with 4520 as target.
FCPO - October 2021 - Mapping - 02/08/2021Breakout (Buy), Fail To Breakout (Sell), Break-in (Sell), Fail To Break-in (Buy). TP at the nearest lines.
Valid on the said date. Enjoy and feel it. Hopefully, it's useful. This is for study and educational purposes only.
FCPO CRUDE PALM OIL FUTURESINDICATING POTENTIAL DROP IN PRICE SUPPORTED BY FLATTENING VOLUME FOR AUGUST 2021 DELIVERY. FOR THOSE IN PHYSICAL TRADING BUSINESS, THIS COMING 2 DAYS WILL BE THE BEST FOR YOU TO CLOSE A DEAL WITH CLIENTS WHO WISHED FOR A CHEAPER PRODUCT (WE KNOW THOSE KIND OF CLIENTS). ALSO FOR HEDGER IN PHYSICAL COMMODITY TRADING BUSINESS, HEDGE YOUR POSITION ON THE FIRST TWO WEEKS OF AUGUST 2021 DELIVERY CONTRACT WILL BE A BAD IDEA. WAIT UNTIL THE DISTRIBUTION HAVE BEEN MADE ON AUGUST 2021 CONTRACT, BEFORE ACCUMULATE YOUR HEDGING POSITION. HAPPY PRICE & TIME ARBITRAGE LADS.
THE ONLY GUY WHO TALKED ABOUT THIS. IN PHYSICAL TRADING PERSPECTIVE
NAIM SUKRI
FCPO ShortShort in mind. FCPO will change direction if price make new structure outside channel. Multi timeframe trend strength (30 minutes, 1 hour and 4 hours) look seller in control.
FCPO - October 2021 - Mapping - 29/07/2021Breakout (Buy), Fail To Breakout (Sell), Break-in (Sell), Fail To Break-in (Buy). TP at the nearest lines.
Valid on the said date. Enjoy and feel it. Hopefully, it's useful. This is for study and educational purposes only.
FCPO STARTS TO BEARRecently forming a double top formation and shows a downtrend right after. Already forming a peak after the double top and likely to proceed bearish trend in the following days. Fibo retracement 61.8% was broken from the latest candle.
FCPO - October 2021 - Mapping - 28/07/2021Breakout (Buy), Fail To Breakout (Sell), Break-in (Sell), Fail To Break-in (Buy). TP at the nearest lines.
Valid on the said date. Enjoy and feel it. Hopefully, it's useful. This is for study and educational purposes only.
DAILY FCPO COMMENTARYComments:
FCPO had reached our 1st and 2nd uptrend target. FCPO might have small retracement toward 4340 level. However, the underlines trend remains UP .
Our preference:
LONG positions above 4340 level with targets at 4532 resistance level .
Alternative scenario:
A close below 4040 support level look for further downside with 3852 as target.
FCPO Crude Palm Oil FuturesMy view on FCPO;
1) Price is to rally higher to the next Resistance level
2) Price is expecting to do a bullish reversal at the 0.5 fibo level which also respecting the previous resistance turn support level
Will enter into a position when price reaching 0.5 fibo and make a higher high. Targetting 170 to 175 ticks.
FCPO TRADING : 294)retest the previous highthis is haidojo and the number is 294 ...
after the recent rally, bull has its grip back. Till yesterday, it has gone back to the previous level at 4400...
so the next level we are looking at is, the previous high in mid-may 2021, and also the highest price ever in fcpo since 2008...4430-4525
if it falls back for consolidation, we shall see some support ranging frm 4200-4300...
that's all for tdy ...if u are frm malaysia, be safe, stay at home...
*plan your trade and trade your plan... gud luck*
higher resistance : 4430-4525(the record high)
immediate support : 4200-4300
lower support : 4050
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures or forex might incur a huge risk to your account/funds… DON’T LOSE MONEY THAT YOU CANNOT AFFORD …any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING . It is MERELY a trading journal and it has been used for educational purpose only… trade at your own risk!
DAILY FCPO COMMENTARYComments:
FCPO had hits our 1st uptrend at 4260. There might have small retracement at 4260 level. However, FCPO remain UP trend if FCPO can stay above 4040 level.
Our preference:
LONG positions above 4260 level with targets at 4437 resistance level .
Alternative scenario:
A close below 4040 support level look for further downside with 3852 as target.
FCPO to formed corrective wave ?Hello there, it has been awhile since my last update. From what I have been analyzed in this market, this is my dummies & 2cents that I found in the EW's perspective for FCPO
A few weeks ago, we can see the market had passed the 5th wave of impulsive and now most likely it has been entering the correction wave.
This is the guidelines as the support for my studies ;
A. IMPULSE WAVE
1. Alternation
- Wave 2 Expanded Flat (Sideways)
- Wave 4 Simple Zigzag (Sharp)
2. Equality
- Wave 3 is extended, hence wave 1 & 5 is equally +-
B. CORRECTIVE WAVE
1. Alternation
- Since the first wave A is a simple zigzag,
most likely the B wave will be having the complex zigzag
=======================================
Well, ofcourse we will let the price reaction to react first as the confirmation for the studies. Too much probability to be told as you know, the rule is a bit complicated for the counting. Let's see either the wave will be in the regular,expanded or running flat later....
This is only for my own studies and would like to share to you guys plus to practice & sharpen wave counting skills for my upcoming CEWA LVL2.
Please, do trade at your own risk & this idea is not a buy/sell call for you.
Leave your thoughts & comments here.
21/07/2021 FCPO ELLIOTT WAVE ANALYSISAssalamualaikum and Hi traders!
Working on the idea of extension wave 5 of 5.
Expecting another high to complete the extension wave 5 of 5.
Price objective is set at 1.618 level.
Happy trading!
FCPO - October 2021 - Mapping - 22/07/2021Breakout (Buy), Fail To Breakout (Sell), Break-in (Sell), Fail To Break-in (Buy). TP at the nearest lines.
Valid on the said date. Enjoy and feel it. Hopefully, it's useful. This is for study and educational purposes only.
