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East Malaysia Crude Palm Oil Futures

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FEPO1! trade ideas

FCPO TRADING : 328) a possible short rebound? this is haidojo and the number is 328 ... A brief review of the whole June month, we could see that fcpo-Aug22 and fcpo-Sept22 were faced with a great fall or a heavy rollover all-the-way down frm RM6k ++ till yesterday, when the price had fallen below the RM4k borderline, a full 2000-pts ++ drop, marking the end of the era of RM4k, which started way back in July 2021, last year. As the hyperinflation has reared its ugly head again and threatening the whole economy of the planet, Bank Negara Malaysia (BNM) had made a drastic decision last night, by increasing the interest rate to 25 basis. Fcpo-sept22 hit the bottom at 3740 on 6th July 2022 after the announcement of hike in opr (overnight policy rate) by 25 basis to currently 2.25% by BNM, and most of the economists are expecting another increase of interest rate is imminent in September this year. So, folks, fasten your seat belts and ready for the roller-coaster ride! As what is happening today, fcpo-sept22 is heading for a rebound and it is difficult to judge whether the rebound is authentic or juz a false one, which is well-known as the fake "bull-trap". Also, as I have seen most traders are putting their analysis on the boards, so I wanto put mine too...(hehe, juz "busy-body"). Here is what I think might happen or somethg to watch out. fcpo-sept22 will face first wave of selling at the resistance level at 4180 and if it falls frm here onwards, then we have bear confirmed...and no second thought on that. However, if it still seeks to rebound further passing that 1st resistance level at 4180, then we shall see some heavier sellers at the range of 4380-4480 , the higher resistance level and also the critical ones, since if the price shoots higher frm this, THEN we might have a reversal..."bullish rotation" is said to be happening and we might wanto turn into buying/long. Till then, if the price is ransacked here and pull down making a rollover all the way down, THEN we shall still see it as a temporary rebound and BEAR still wins. There is a bit of information overload today. Hence, you might want to get a hard look at this for a gud sense. That's all for the update today. **plan your trade and trade your plan... gud luck** overhead resistance : 4074-4100 (happening now? wtf?) resistance : 4180 (my expectation of 1st wave selling) higher resistance : 4380-4480 (critical resistance, deciding Bull/Bear) current support : 3880 lower support : 3480 WARNING! RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures , cryptos, warrants, CFDs, spreads, options 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… this is not a signal service channel and DON'T TREAT IT LIKE ONE! TRADE AT YOUR OWN RISK!
MYX:FCPO1!Short
by HAIDOJO_trading
2
Malaysian Crude Palm Oil Futures to expect falls below RM3800Hello there, it's been awhile since my last published. My apologies for not being actively in publishing the idea like i did before in 2020. Hope you guys are doing good. Anyways just to update to you guys, im curently studying & practicing Elliot Wave from EWI (google it) since feb 2021. Was a candidate of CEWA examination LVL1 and right now im looking forward for LVL2&3 examinations & highly dedicated to get my CEWA-M to be the first one in Malaysia(May God wills). And ofcourse ! to contribute back to the society. Okay, lets take a look in FCPO. Based on what i have seen & following the FCPO movement since middle of jan 2022, this is what i found; 1. The current movement is in the Corrective Mode or inside the primary wave. 2. Apart from that, A & B wave have been terminated and right now are moving in C direction. 3. When we take a look in the extensions of wave 3 (intermediate), are moving in the guidelines in what we called as "Channeling" - we can see in wave 4(minor), the price slightly move beyond the channel trendline. - Based on the guidelines, we are expecting wave 5(minor) will terminates beyond the trendline channel below in what we called as "throw over" - When the fifth minor terminates, then we can concluded wave 3(intermediate) will also terminates. The next wave 4 in Intermediate Wave 1. We were expecting the movement will be in alternate waves (Well, the harmonic traders love that so much ! Cause it is the time to maximize our profits through up-side-down of the price) To conclude, we can say FCPO has the ability to moves downwards and next... in the flat(sideways) direction for a while before beginning the new bullish wave in motive primary. I could be wrong. But please just use it as an idea for you to analyze the market. Stay safe, save cash & trade at your own risk.
MYX:FCPO1!
by zhafrihandsome
7
Harami in CPO Time for Rebound?Technical View: Palm oil downtrend paused after tighter range move and inside bar formed, which indicates a reversal signal. Stochastic K% line showed mixed signals, as in daily chart, K% crossed down which indicates sell signal, while in weekly chart, K% line near to oversold level but K% remains crossed down which indicates market likely to further down before we have technical rebound. We expect market likely to continue decline with immediate support level at 4400. Suggestion Trade: Short if stay below 4550 Target Stop Loss (resistance level) 4758 Target Profit level (support level) TP1 4342 TP2 3926 Long if stay above 5045 Target Stop Loss (support level) 4837 Target Profit level (resistance level) TP1 5253 TP2 5669 Disclaimer: Trading Carries Risks. Happy Trading!! Cheers. ** DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK **
MYX:FCPO1!
by happytrading96