Now ??? are we there yet?The first confluence at 4500 did not materialize after about a 500 point rally. We are at another confluence and at a seasonal low zone.....What are the odds???
FPKO1! trade ideas
FCPO : Back test AKM 2 + Fibo Retracement ...continuedthisis second part of the afternoon session due to limited recording period. Yiihaaaa....!
FCPO : AKM 2 (HMA 50, MACD & W Fractal 2) + Fibo RetracementBack test 8th July afternoon session FCPO AKM 2 Method + Fibo Retracement. Yihaaaa....!!!
FCPO still in bearAfter few huge bearish candle, FCPO now at important resistance level.
If this highlighted level is respected, we may see another bearish run towards the monthly trendline.
Around 3500 level
FCPO AP TF15mHi guys,
just my 2 cents of garph sketching..
normally price follow the market structure.. then AP will follow it arccodingly
then it will pullback at median line..
jsut like yesterday
FCPO 5 Min TF Short Term Triangle PossibilityFCPO 5 Min TF Short Term Triangle Possibility.
It may however retest the low. Provided it is not broken, it should move swiftly up from then on.
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!
FCPO 5Min TF Possible break of ascending triangleFCPO 5Min TF Possible break of ascending triangle.
Normally a triangle will break out of its flat side.
FCPO Andrew Pitsfork TF15mJust my 2cents
Normally AP follow the market structure then its must keep updated to find more accurate
FCPO 4Hr possible 5th wavePrice broke 4490 thus initiating a possible 5th wave. Target being the pink area below.
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.
FCPO 5min TF short term retracement up.Retracement up before continuing lower.
Target, pink area above.
backtest while observing price movement go along with indicatorsApplying stochastic indicators would help us to detect the right movement of the price Long and Short. 3 Different Lines will determine the price movement exponential or saturated. Gud Luck!
FCPO Short Term 5min TimeframeFCPO Retracement up on the 2nd leg up to the pink area may occur.
Expecting price to bounce off the gap area before moving up.
short sell using HMA, AMA & Stochasticseasy 40 ticks possible short sell when observing indicators and oscillators. lets try and keep doing back testing to get yourself more used to ...
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 **
FCPO, buyer loss power?Let see if seller still in control. This analysis for education purposes only.
FCPO immediate downside with targetThe immediate short term target for a 5 minute timeframe for FCPO should see price go lower to the pink area marked on the chart.
FCPO trade using AMA, MACD Divergence & RSI IndicatorsBacktest on FCPO trade using divergence oscillators and indicators
Will CPO Downtrend Stop at 4400? - FCPO Weekly Market Analysis -Palm oil extended losses and closed at 4664. Daily chart broken EMA200 line which indicates market closed in bear market territory.
While Stochastic K% line showed mixed signals, as in weekly chart market remains in selling signal while in daily chart, K% line crossing up at oversold level which indicates market likely to have technical rebound.
We expect market likely to bounce with immediate support level at 4400.
Suggestion Trade:
Short if stay below 4600
Target Stop Loss (resistance level) 4813
Target Profit level (support level)
TP1 4387 TP2 3961
Long if stay above 5150
Target Stop Loss (support level) 4937
Target Profit level (resistance level)
TP1 5363 TP2 5789
Disclaimer: Trading Carries Risks.
Happy Trading!! Cheers.
FCPO - Are we there yet????After losing 38% of its value from the top and a wave relationship of 1.618 in wave c to wave a at a 38.2% mark in the presence of a divergence. One has to take a closer look!
