MARKET COMMENTARY LAST WEEK 27FEB-3MACas we see, we had predicted the trend and forecast it well. thus this week will decide the trend for monthly of march. see you on the member private ideas.
FUPO1! trade ideas
Midterm perspective for FCPOFCPO is probably preparing to trending higher in the future but I'm a bit CAUTIOUS because the price hasn't broken the important level yet (strong resistance) which is around 4500. Currently, the pattern which is unfolding is a ZigZag (thought to be). Assuming this assumption holds true, wave C should ends about the same length of wave A, around 5000 - 5200 levels. There're evidences which supports this assumption:
1. There are 5 waves in wave A
2. Fibo retracement level for wave B in a ZigZag is around 0.618 level
3. By EW rules for ZigZag, wave C should have 5 waves.
4. ZigZag price movement is contained within parallel channel - they tend to in most cases.
We're already seeing 5 waves unfolding in wave C but seems relatively short than assumed projection (5000 level). The only possible explanation is that wave (3) in wave C is an extension.
Disclaimer
This is NOT buy/ sell call but for learning purposes.
FCPO Market Outlook 3 Mac 2023Market Commentary
Malaysian palm oil futures jumped to a more-than-three-month peak on Thursday, underpinned by flooding woes, a weaker ringgit, and assessed the impact of India's removal of duty-free import quotas for sunflower oil.
Today, palm oil price is likely to edge higher tracking the overnight bullish in soyoil market.
Highlights:
Palm ends at highest since Nov on flooding woes, weaker ringgit
CBOT soybeans rise on technical bounce, strong demand
Crude Palm Oil
Malaysian palm oil futures jumped to a more-than-three-month peak on Thursday, underpinned by flooding woes, a weaker ringgit, and assessed the impact of India's removal of duty-free import quotas for sunflower oil.
The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange jumped 111 ringgit, or 2.65%, to 4,293 ringgit ($959.76) a tonne, its highest closing since Nov. 8.
More than 27,000 flood victims across Malaysia have been evacuated as months-long heavy rain continues to hit the country, state media Bernama reported.
Russia on Wednesday said it would only agree to extend the Black Sea grain deal, which allows grain to be safely exported from Ukrainian ports, if the interests of its own agricultural producers are taken into account.
Ukraine and Russia account for about 80% of global exports of sunflower oil.
Meanwhile, India on Wednesday said it will scrap a duty-free imports quota of 2 million tonnes of crude sunflower oil for the next fiscal starting April 1, as the world's biggest importer of vegetable oils tries to support local oilseed farmers.
The ringgit, palm's currency of trade, fell 0.07% against the dollar, making the commodity cheaper for holders of the foreign currency.
Indonesia, the world's biggest palm oil exporter, plans to require palm oil exports to go through a futures exchange to create the country's own benchmark price, the head of its commodity futures regulator said.
Today, palm oil price is likely to edge higher tracking the overnight bullish in soyoil market.
FCPO 2 March 2023 : JAC and LPS or UTAD?Yesterday price reject btm channel and broke up DTL + EMA50 and sustained above it. This schematic might be JAC. = Uptrend
Today expectation :
1. Let's monitor the 4242 resistance level. If the price sustains above this level, consider it as LPS.
2. If supply is coming in and bringing back down into the range, possible UTAD formation for distribution.
5min view :
1. Market structure: Sideway bias uptrend
2. Price to EMA = Price cross EMA up and down = Sideway
3. EMA12 to EMA50 = No clear direction yet = Sideway
4. MACD = no divergence formation.
Trading Plan :
1. Wait for the price to break immediate resistance and support level.
FCPO 1 March 2023 : Reject or Break Bottom ChannelYesterday, the price formed a creek/ICE formation with SW price before going down to test btm channel.
Today :
1. We expect price reaction at the bottom channel. It's already been tested multiple times. Expected to be a bit chaotic today.
2. If the price is not able to break DTL, possible spring/shakeout to break the bottom channel and price back up again into the range before mark up.
3. If price break bottom channel, and sustain below the range, possible mark down.
Trading plan :
1. Wait for price reaction at the DTL and btm channel.
Next Possible Direction For FCPOAs expected market has moved towards the north and seems to have exhausted its uptrend momentum at least for now. Correction is now more likely to occur after 5 waves move have already unfolded in the wave 3 Primary. Given that correction in the Primary Wave 2 is a Zig Zag, the rule of alternation could be at play here for Primary Wave 4 - most probably flat correction, triangle or double three. I'm inclined into assuming that it is flat correction. A break below 3848 would invalidate this assumption and suggest another wave is unfolding.
Disclaimer:
This is NOT buy/ sell call but for learning purposes.
FCPO 28 Feb 2023 : Creek/ICE formation?1. Yesterday price able to break mid channel, however, afternoon session price backup again to test mid channel.
Expectation today :
1. Price still in a consolidation phase. High chance to form a creek or ICE formation before next step.
Trading plan today :
1. Trade in Sideway. Sell high, buy low..
Wave (3) still ongoing for FCPO ?Based on the movement of the market yesterday, it might be possible that (3) is still in play here and its due to 2 reasons:
1) Wave (3) is an extension - thought to be, technically the market should at least move until it reaches fibo level 1.618.
2) Formation of the market highlighted in the box seems to be developing a five wave move (not confirmed yet).
Disclaimer
This is NOT a buy/ sell call but for learning purposes.
FCPO1Welcome . Quick deal. An opportunity to buy fcpo1. Breakout of the double brick pattern. There is a strong trend. Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas, thank yo
FCPO 27 Feb 2023 : Spring or SoW?Last week :
1. Price retest again the UT level at the same supply zone level before going back down again.
2. Price stop at EMA50 30min and Mid channel
3. SBO continues a downtrend after the FCPO market close down almost 2.45%.
Expectation :
1. We expect CPO to follow the SBO gap down to 2.4%.
2. Price will break mid-channel and possibly lower channel.
3. When the price test/breaks the lower channel, we expect the price to create SoW or Spring.
Planning :
1. For the Wyckoff trader, we did not expect entry during Spring/SoW. We will take a chance during ToS formation or LPS/LPSY formation. Wait for the price reaction at this point.
2. However, for 5min TF, we can find any trading opportunities for a short-term trade.
3. Monitor the 4100 support level. If clear this level, the price might test the 4030 level.
4. If the price still sustains inside the channel and TR, possible to retest fibo 50 or close gap?
Below is the expectation from SBO
market forecast dailywe are waiting for retracement as shows in the chart! please watch the key level! more insight is at membership services
market forecast weekly tfmarket shows bullish strong and now its time to do a retracement for weekly as shows in the chart. but please carefull at daily and sespecially at 4h tf for any changes trend earlier to happen!
market review last week we are in good direction at market forecast last week! please watch all key level at important at all key level
FCPO PALM CRUDE OIL INDEX BURSA MALAYSIABottom reversal pattern has been form on week 03-Oct-2022
Currently FCPO price in sideway range between 3730 (support)- 4500 (resistant)
Trade Strategy: (BUY / CALL)
Once FCPO price break out & goes beyond price 4500 with increasing volume.
TP1: 4990
TP2: 6230
CL: 3730
Risk Ratio Reward - 1 : 2
Fact supporting indicator:
Smart Money Pro bullish Profit-Chip (red bar) continuous increases for 3weeks and crossed over Profit-Chip Moving Average line.
#bursasaham #malaysiastockmarket #fcpo #palmcrude #bursamalaysia #malaysia #bursa
#trendline #trendanalysis #technicalanalysis #chartpattern #trendpattern #uptrend #bullbear
#supportresistance #technicalindicator #indicator #waveanalysis #bottomcatch #reversalsignal
Disclaimer:
This published Idea is solely for the purpose of education and opinion sharing, and should not be construed as investment advice or recommendations to buy or sell any security.
Get your trade advise from a legit broker, you are responsible on your own trade.
FCPO 24 Feb 2023 : UT Complete?Yesterday price not able to break mid channel and rebound higher to test the last supply zone.
Today,
1. Price backdown again inside the TR to confirm UT formation.
2. If sustain inside the TR, possible to go lower TR.
Any possible spring/SoW still in view
FCPO 23 Feb 2023 : Reaccumulate or Distribution?Yesterday :
1. As expected, price test nearest resistance before going down to test EMA50 30min.
2. Night session price back up again and we notice the volume is diminishing.
3. Notice BCX and AR before ST forming last night's session.
4. Trading in range before UT/UTAD or Spring appears.
5min :
1. MS : sideway structure
2. EMA : EMA12 above EMA50 = uptrend
3. Price above EMA50 = uptrend
4. MACD : Bearish divergence = Good tools to trade in the range.
Managing it before Invest.Theres Always a solution if theres a problem.. Three Possible solution of the market price of FCPO .. Wait n See the true Story of your solution of the problem either Effect or Fail You.. Last but bot least.. Sabr n Tawakal
FCPO 22 FEB 2023DOWN, SL 4226
(Disclaimer: for demonstrate own planned trade records study only and education purpose, not for recommend to buy or sell. Trade at your own risk)
FCPO 22 Feb 2023 : Gap up and UT?1. Yesterday price failed multiple times to break 236 fibo level. However price to able to reach down to 786 fibo level. Buyer and seller are still strong. We can expect price sideway.
2. 15min TF, price already breach EMA50. 30min TF, price still not test EMA50. We expect the price will test it sooner.
3. Channel uptrend is still holding up. Mid channel tested but not cross to the lower track.
4. Market structure: Yesterday's price played in the range. The uptrend is still valid unless the price breakdown and sustains below 4100.
5min :
1. MS : Sideway
2. EMA : Last night EMA12 crosses up EMA50
3. Price to EMA : Not respect either one of EMA = Sideway
What is trading plan today?
1. Gap up, price sustain above trading range = BUY
2. Gap up, price backdown into the trading range = SELL trading range
FCPO 21 Feb 2023 : Reaccumulate/Distribution?1. So far price still uptrend movement in the channel.
2. Price still test EMA50 15min.
Expect sideway movement to form reaccumulation or distribution pattern.
5min :
1. Price breakdown EMA50 multiple times but back up again = Strong buyer still have upperhand
2. EMA12 still above EMA50 = uptrend
FCPO TRADING : 336) sideway for too darn long...this is haidojo and the number is 336...
sorry folks! I am truly very sorry! After a long 3 months, I have returned...
The main reason for my absentee for the past few months is fcpo has been trading sideway and it has been absolutely NOTHING much to discuss...
fcpo is killing me with sudden ups, sudden down, when the trend is supposingly confirmed, then suddenly the tide has changed and it moved the opposite direction and killed all my trades! All this is driving me crazy....so I come with the idea to take the game to the next level by trying to trade "outsider" such as e-micro gold futures (MGC )and micro e-mini dow jones (MYM) and not focusing so much resources on double fcpo and fkli...
Back to business, the technical part, about the price-action. As we can see frm the chart, now we are at the crossroad, 4136...some resistance level, the blue line...and price might fall back to support level at 4000...look for some slowing down and reverse...if it hits the ceiling at 4255, the next resistance level, then we should be looking for some slowing down and reverse...that's all for tdy
**plan your trade and trade your plan... gud luck**
resistance : 4255-4300
overhead resistance : 4130-4170, happening now
support : 3970- 4000
lower support : 3730-3830
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 17 Feb 2023 : Continue uptrend or consolidate?Yesterday :
1. SnR : Price sustain above the RbS level.
2. Channel : Price respect uptrend channel
3. MS : Price make uptrend structure
Planning for Today?
1. SnR : Price may test nearest supply level around 4100~4120
2. Market Structure: For now BUY MS is still intact. Monitor if the price breach MS.
3. EMA: Price still not tested EMA50. Today's price may be consolidated to test EMA50
4. MACD : We see a possible bearish divergence. But it can be retracement only unless the price breakdown buy MS.
