FPOL1! trade ideas
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!
FCPO to range higherDaily candle at significant level with weekly reversal zone.
Some bullish momentum with the higher WTI oil price and Soybean price.
PALM OIL FEATURES ...palm oil features ...
high 7120 and crueent low 4920
the price will be break palm oil features lowest zone
next days wee see palm oil like 3200 to 3500
if you like my idea
please comment below
Palm and crude oil long term bullish? R u sure?! 21/June/221)On Charts : Charts consist of 3-Dimensions - The X-factor ( Time or Cycle ), The Y- factor ( Price Geometry ), AND The Z-factor ( The Speed ).. 2)On Elliot Wave / Market Structure : Unlike Textbook written rule : ALL Impulsive wave comprise of ONLY a-b-c sub-waves NOT 1,2,3,4,5 waves.. AND there is NO Truncated 5th wave BUT ONLY wrong wave counts...
Disclaimer
FCPO - Bear taking breathAfter a series of 8th falling trading days, price of FCPO constructed a short term bullish AB=CD pattern in daily TF. It's been oversold but not in extreme way yet.
Current price is hovering around 5477 (the neck line of a bigger pattern) and may have a small rebound before a continuation.
May focus on the price action along with confirmation of oscillator especially the neck line region for a the 1st TP of 6070. If the price manage to piercing thru the red dash trendline, the 2nd TP would be 6512.
-Signing Out-
Downtrend Continue in CPO?Palm oil extended losses and closed at 5454 with long black formed which indicates bearish signal.
While Stochastic K% line both weekly and daily chart remained crossing down indicates downtrend signal.
However, please take note that stochastic K% line in daily chart landed at oversold level as well as candlestick landed at the of Exponential Moving Average 200 (EMA 200), which indicates market likely to have technical rebound.
We expect market likely to bounce before move lower with immediate resistance level at 5700.
Suggestion Trade:
Short if stay below 5400
Target Stop Loss (resistance level) 5600
Target Profit level (support level)
TP1 5200 TP2 4800
Long if stay above 5900
Target Stop Loss (support level) 5700
Target Profit level (resistance level)
TP1 6100 TP2 6500
Disclaimer: Trading Carries Risks.
Happy Trading!! Cheers.
FCPO - A Larger Picture of this bearish moveAfter a few bearish days, I turn to the larger timeframe for a larger picture of the price / trend .
Bearish move this week crossed the Weekly trendline with strong momentum.
I see price continue moving slowly in the next few weeks before another bearish run towards the 4500 level.
Consider this as the leg 1 of its bearish move, it created a lower low. And then rebalance for a few candles before another huge candle.
Estimated price to reach target at reversal zone around: Aug - Oct this year.
If you liked this idea or if you have your own idea about it, please do not hesitate to write in the comments.
Thank you
FCPO view AS per the charts - the FCPO contract is expected to take a support at 5050-5100 and then bounce to 5900-6000 before falling down to 4100 leves
FCPO Bearish move into Daily reversal zoneSupport seems broken as the bears are gaining strength.
Daily chart seems to have a strong bearish momentum that breaking into the Reversal Zone1 & 2.
Zone 2 is the stronger 1, if broken, price seems moving downwards towards -61.8% of the daily Fibonacci retracement range.
There will be a short opportunity if the bulls fade again as second confirmation, in the lower timeframe.
FCPO Enters reversal zone?There might be a short bullish run as price reaches reversal zone and Weekly trendline.
Current momentum shows some fading of bearish momentum.
Short-term bulls may run for a while before the bearish momentum can push - broke through the reversal zone.
FCPO Short run Analysis:
Weekly price closed @ RM6,353PMT (-180) Price move in larger range; went up towards the dotted trendline in the daily time frame and closing on Friday downwards.
Indicators: -
Value Chart: neutral
EMA-13 Line: neutral
RSI: neutral
Weekly candle (see pg.2): Price showing a stronger bearish momentum as Friday closing price went down sharply.
Next Week: Price seems narrowing ranges between the top dotted trendline and the Base trendline in the daily chart. Bearish momentum may continue to 6100 level or further - reversal zone; then move in narrower range before breaking out.
Price range: 5900 – 6250 PMT
