FEPO1! trade ideas
Bullish Daily FCPOFCPO still uptrend on daily chart. This is based on Andrew Pitchfork drawing and trendline.
FCPO TRADING : 306) bracketing the market and potential reversethis is haidojo and the number is 306 ...
Today is 8th Nov 2021 and fcpo-Jan22 is going to expire next week. Nov is a bit tricky with last Friday when suddenly fcpo-Jan22 gap down close to 100pts and went down...If you are holding long positions, then thr is really not much u can do...cutting loss is the most logical thing to do btw...
As for the previous trading day, we could see a false breakout formed on thursday and a huge gap down on friday...it is not looking gud for the bull but the resistance is still at 5040 while the support is at 4844 - 4750...IF the price moves abv the 5040 level, THEN we can look for long on the bullish ride. IF the price moves lower than the 4750, THEN we could short on the bear grip. what IF the price locks somewhere in between?
for me, I shall do absolutely nothg...well, that's my plan...bcox market is moving sideway...sideway is no gud for me...
ok, folks. that's all for tdy...I try to update more often but really, duty calls...and it sucks...
*plan your trade and trade your plan... gud luck*
resistance : 5040-5220
support : 4750-4840 (bull validity is here)
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… trade at your own risk!
FCPO Another Re-accumulation towards RM5480Happy Deepavali to all Hindu fellows...
This is UCL Posting :D
1. The last accumulation hit our conservative TP and currently making a new re-accumulation phase with a triangle pattern.
2. If the price can close above 5090 there is a chance the price will continue the uptrend
3. or else possible downwards movement to form spring formation.
4. Notice massive selling volume on 2 Nov might indicate seller close all their position to enter buy.
5. Price do make higher high.
FCPO Comes to BIG Correction ?Hi there, its been awhile since my last published.
This is what i found for Futures Crude Palm Oil (FCPO) Bursa Malaysia Derivatives.
Alternation + Channelling in Corrective Waves
Channelling through corrective waves (by the rule of alternation, it is entering wave C in expectation of complex/sharp correction since wave B was in regular triple flat WXYXZ)
With maximum expectation of wave C 161.8% at 4649
Well, this is only the ideas and please do trade at your own risk.
Palm Oil Ranging Between 4800-5100Palm oil range lower as market remained cautious ahead of export data and MPOB data release.
However stronger rival oils and global supply concerns remained support.
Palm oil range: 4800-5100
Stochastic level at 50.00 indicates market direction remain uncertain.
FCPO Weekly View: maintain ranging between 4750-5250Palm oil prices remains at 5,000 last week. As market remained concerns over low production and inventories due to labor shortage. However, reducing in export demand capped gains.
Market likely to move within the range of 4750-5250 in near term, until market break from the price range and sustain above 5250 or below 4750, then follow by new direction.
While Stochastic shows signs of uptrend reversed, as well as a shooting star candle formed at the resistance threshold at 5300.
High Prices Capped Upside, Lower Stock Limited Downside FCPOPalm oil prices remained strong due to rising in export demand while labor shortage, lower productions and inventories issues remained.
Palm oil market major trend remained UP.
However, near term likely to move within the range of 4950 (support) -5250 (resistance).
Strategies to apply:
Long when near Support level
Short when near Resistance level
With smallest stop loss apply until market break the ranging box.
Palm Oil Struggling to Maintain Up Slope?Palm oil candlestick range getting smaller, selling force seems standby-ing to short the market.
Despite tons of tight supply reasons persisted, that supporting palm oil, including related edible oil gains, labor shortage due to pandemic led to lower production.
Immediate resistance level at 5250, while stochastic indicator shows buying strength weakening.
Moreover, traders awaited ahead of announcement from Malaysia Budget 2022.
to conclude that, intraday trading plan with ranging strategy, buy at support, sell at resistance.
Can FCPO Malaysia Palm Oil Sustain Above 4700?palm oil deep fall on last Thurs, yet on Friday palm oil prices bounced back from the weakness as tightness in palm oil supply remained support.
Another factor could be the next focus, that is weather concerns. La Nina is expected by the 2nd straight winter, hit soybean means hit soybean oil as well.
Highly expected retracement in palm oil may not last long despite China and India might strengthen regulation on speculative activities.
which level should we watch out??
the nearest support at 4700, which is the level Friday hit and bounce.
once broken 4700, means small correction in short term. Market likely to test support level at 4500 before it resume its uptrend.
In summary, overall remain bullish view for palm oil market.
FCPO short to 4550a ripple formed at 15 minute time frame in the nick of mass retracement yesterday. find short entry with stop loss above 4950.
Is Malaysia Palm Oil Futures Having Divergence?? candlesticks formed long black bar ( bearish engulfing ) at resistance level .
Besides, MACD starting to cross down, signaled downtrend started.
We shall see FCPO decline in coming days.
Traders may take this opportunity to short in market with stop loss at the high of 5220.
-market extended gains closed at record high as Oct export data improved amid lacklustre production
-market likely to move higher if market stays above 5070; target market range 5065-5245
-support level:
S1 5025 S2 4978 S3 4931
-resistance level:
R1 5100 R2 5147 R3 5194
-yesterday daily settlement: 5071
mid: 5022
strategy 1: Long if stay above 5100
tg stop 5053
tg exit 5147-5241
strategy 2: Short if stay below 4945
tg stop 4992
tg exit 4804-4898
FCPO 18 Oct 2021 : Re-entry EMA14 & Bullish pennant1. Setup : EMA14>EMA50 = Uptrend
2. Signal: Re-test EMA14
3. Confirmation : 5min bullish engulfing + Bullish pennant pattern
4. Entry : at the low side of pennant triangle
5. SL : 10 tick below signal CS
6. TP : fibo extension 100% / until reversal CS
Price near resistance but not retest yet the highest level.
Risky setup possible price go down.
FCPO 14 Oct 2021 : Break EMA50 and price sideway1. Yesterday price able to make a new ATH with a valid breakout
Trading Plan :
1. Setup : Price cross EMA50 indicates price might be downtrend or sideway.
2. Signal : Rejection @ 15min
3. Confirmation: Bullish engulfing
4. Entry: 50% of bullish engulfing
6. SL: 10tick below recent rejection
7. TP is subjective
FCPO JAN2022 Contract outlookAs we generally know that CPO products usually have a bullish trend towards the end of the year due to short supply for any reason.
Therefore, if the price is still in bullish momentum, there are multiple possibilities.
New contract price range (FCPOF2022)
Possibilities :
1)If the uptrend is still strong, the JAN2022 contract will try to break higher and close beyond the trendline.
2)If today's price is still sideways, we are looking for a possible fake breakout/rejection for an uptrend.
3)If price valid breakout support, possible downtrend or retracement
FCPO Long position 4950 Goal price new high 5050FCPO Long position
1.TF1 price test ema50 4840
2. Long position 4950
3.Goal price new high 5050
FCPO Start Bearish?4752 is key level that price must break. Buyer still in control above this level.
FCPO TRADING : 304) RM5k here we come! this is haidojo and the number is 304 ...
Today is 13th Oct 2021 and fcpo-dec21 is going to expire in 2 days or less. October has been blessed with the continuation of aggressive bull which resumes the rally frm last month. Still, the momentum of the long-run bull persists and there is no sign of slowing down. If you are trading some kinda trend-following/continuation trades, this could be your month.
As for today, the fcpo-dec has broken abv and closed abv RM5k. A historical benchmark and also an important milestone in the history of the fcpo price. So how far it could go? that is a million dollar question. U can projectile it using whatever indicator/method you like, but my conclusion is simple. I shall continue trading "long" as long as it is an uptrend. IF it reverses, THEN stick to the downtrend. Follow the trend. As simple as that. IF it consolidates, THEN it is not gud for me. haha. I dun have strategy for sideway yet. There is idea, but not yet tested.
One more precaution we might want to take heed is the tide might change after the exchange date of 16th Oct 21- which will fall upon us in no less than 3 days. SO, till then...stick to "long on retracement", with effective stop-loss. THEN wait for the new trend OR continuation of uptrend on 28th Oct 21 with new active third month, fcpo-Jan 22.
*plan your trade and trade your plan... gud luck*
resistance : 5040-???
support : 4930-4980
critical support : 4753-4820 (bull is valid till here)
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… trade at your own risk!
FCPO All Time High Predicted by WycoffianPrice almost reach the conservative PnF target price at RM5113
If we look at the current condition with a shortage of supply due to many reasons, the possible next TP is RM5480 which is PnF aggressive.
FCPO 13 Oct 2021 : Re-entry Sell EMA14Yesterday closing market setup.
Trading Plan :
1. Setup : EMA14<EMA50 = Sell trend
2. Signal: 15min Price retest EMA14
3. Confirmation: 5min Bearish Engulfing
4. Entry: at least 50% bearish engulfing body CS
5. SL: 10tick above retest CS
6. TP: 15min support area / if there any rejection
If today price open above EMA14 consider the market sideway with this possibilities :
1) Test EMA50
2) Test Resistance (R1):4900 and Support (S1):4849
Notice price is closer to the major uptrend line. Price may break the trendline or reject the trendline to continue bullish momentum.
Trade.At.Your.Own.Risk (TAYOR)
Crude Palm Oil (FCPO)-Simple Wave CountToday is 11 October 2021. It's not even half of the month yet but price of FCPO has reached Monthly R2 (Traditional Pivot). That indicates the price is already overstretched. I believed the price should retrace. Furthermore, The bearish divergence does support the wave count that price already topped for wave 3 base on Elliott Wave count. Further confirmation is needed i.e. must break down the trendline and successfully retest it and continue the short-term downtrend.
FCPO is in a very bullish mode so I don't expect the price to retrace way below the Monthly R1 at 4785. Moreover, there is Weekly Pivot at 4811 to act as the first strong support that might be the catalyst for buyers to jump in the rally again.
The target for wave v is base on 1:1 ratio with wave i. It could go higher or lower than that.
FCPO 12 Oct 2021 : Breakout EMA501. Yesterday 15min CS have a reversal pattern with bearish engulfing @ 5min TF.
2. Today's price has a valid breakout of EMA50. there are 2 possibilities when price breakout EMA50 :
i) Bigger sideway range
ii) Continue downtrend
3. Signal: 1st pullback after a breakout
4. Entry: After bearish engulfing @5min + 15min Bearish engulfing
5. SL: 10tick above highest pullback CS.
6. TP: target support area / until 15min have reversal CS.
TAYOR
Live FCPO Trade : 12 Oct'21 (PM, Long)1. Entered a trade based on Discretionary on Green Pentagon.
2. Exit partial as the price progresses.
3. Flatten the trade when price comes back to the Entry Price for the 2nd time.
Total contracts trade:
Entry : 5 contracts.
Exit partial 1 : 2 contracts @ 5pts.
Exit partial 2 : 3 contracts @ 1pts.
