FEPO1! trade ideas
22/06/2021 FCPO ELLIOTT WAVE ANALYSISHi Traders!
Nothing new for FCPO, as for yesterday trading session, we can see a ranging price action, no clear movement and clear structure.
Most likely we are in WAVE 4 phase where profit taking activities is take place.
My trading idea is still the same for wave 4, stay away is the best strategy.
Happy trading!
TRADE #1: FCPO WAVE 5 BEARISH TRADE SETUPHi traders,
We spot an opportunity to rejoin the bearish movement for final leg wave 5.
Here is the setup.
FCPOQ2021 (AUG 2021 Contract)
Sell stop @ 3410
Stop loss @ 3545
TP @ OPEN
Size = 1 Lot.
CONDITION:
1. Cancel order if price break SL level.
Trade At Your Own Risk
FCPO, LOWER FOR WAVE 3FCPO AUG 2021 CONTRACT
KEY LEVEL = 3831, 3852, 4064
CRITICAL LEVEL = 4260
10.06.2021
Trading below 3852 and 3831 would signal us that wave 3 is in play. Next reasonable target area for wave 3 will be between 127.8% and 161.8% Fibo ratio, 3472-3259 area.
As for today, we will monitor 4064 key level, trading above this level will cancel this wave 3 in 3 setup and price movement above our critical level of 4260 will cancel this setup.
I AM A GOOD TRADER - You only need one affirmation and this is it. Read these words every day until you don't have to read them anymore. =)
FCPO 09.06.2021FCPO AUG 2021 CONTRACT
KEY LEVEL = 3913,4166
CRITICAL LEVEL = 4468
09.06.2021
Expecting wave C of 2 toward 4336 area if price move above our key level 4166.
Breaking below 3913 and 3852 will strengthen the idea of wave 3 is in play.
My personal opinion, as long price is below our critical level 4468, the force is strong with the bear.
Embrace probabilities: Trading is all about probability, never certainty.