FCPO1 Make it simple.Using Trendline and Fibonacci Extensions
"Whatever method you use to enter trades, the most critical thing is that if there is a major trend, your approach should assure that you get in that trend."
FCPO1! trade ideas
Palm Oil Hit Historical High 5639Palm oil prices closed higher at 5628 after hit historical high at 5639.
Factors continue to affect palm oil prices:
1. Indonesia finalize their export restriction plan which set 20% local supply rule for palm oil exporters effective from last Thursday (27 Jan 2022). Government also implement price cap on local sales of CPO and palm olein, effective from 1st Feb 2022.
2. Soybean oil stayed firm on Ukraine Crisis amid fears of potential supply disruption due to military action from Russia to Ukraine.
3. Traders selling in far months and shipments from India and China dropped likely to limit the upside of the market.
Technical View:
1. Market remained bullish.
2. Stochastic reached overbought level
We expect market may face some profit taking activities due to shortened week and thin trading volume.
Suggestion Trade:
Long if stay above 5625
Target Stop Loss (support level) 5400
Target Profit (resistance level)
TP1 5725 TP2 5825
FCPO TRADING : 317) bull is chargingthis is haidojo and the number is 317 ...
Hapi Chinese New Year and Gong Xi Fa Cai! Today is 29th Jan 2022 and fcpo-Apr22 is the still the active third month. Nothing much to update but very important if u are trading trend. After a small adjustment on 24th jan22, bull comes with supercharge and breaks into NSH at 5639, closing at 5625 on 28th jan 2022, thus putting the previous high 5380 into history. Thus, the winning strategy is "buy in dip" but with gud SL and not keep buying in the dip...This is suicide.
\The next level to watch are...5440-5520 and the next level is 5220-5380...
That's all for the update today.
*plan your trade and trade your plan... gud luck*
resistance : 5639
support : 5440-5520
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 TRADING : 311) downtrend and review of the previous gartleythis is haidojo and the number is 311 ...
Today is 2nd Dec 2021 and fcpo-Feb22 is still the active third month. After bouncing on and off within the range till 19th Nov 21, the price has descended gradually by showing lower and lower highs. The new low was at 4636 yesterday and this was a lower-low than the previous one (4709). So, we have a continuation of downtrend.
As for the bearish gartley pattern in the precious episode, it missed the entry 5070 by juz 1 point, rollover frm 5069 and fell all the way to form lower-highs and lower-lows. It hits 1st tp at 4850 multiple times and 2nd tp at 4755 on 29th nov 2021. Next supports are at 4560-4480. Now, the price is hanging loosely ranging frm 4660-4680, slightly lower than the formation of leg A at 4708. Next resistance level to watch are 4755, and 4850.
*plan your trade and trade your plan... gud luck*
resistance : 4755, 4850
support : 4560, 4480
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!
FTSE FCPO Palm Crude Oil Futures #FCPO #FCPO1!Palm Crude Oil Futures FCPO short-term still looking bullish.
Profit Chip of PFT indicator at 38%, if surpass 50% greater chance to reach upper trend line resistance @5500
Bull Bear Energy (BBD) indicator show Dark Green bar turning into Light Green (momentum turns weak) - short term correction on way.
#fcpo #fcpo1! #bursasaham #palmoilfutures #commodities #tradingfutures #ftseklci
#technicalanalysis #technicalindicator #technicalchart #mcdx #bbd #trendline #chartpattern
Disclaimer:
This published Idea is solely for the purpose of opinion sharing only, and should not be used as investment advice or recommendation to buy or sell any security.
Get your trade advise from a legit broker, your trade is solely your own responsibility.
Thank you.
FCPO TRADING : 316) uptrend continuesthis is haidojo and the number is 316 ...
Hapi Chinese New Year and Gong Xi Fa Cai! Today is 24th Jan 2022 and fcpo-Apr22 is the new active third month. After some small consolidation on the 17th Jan22, fcpo came back with full throttle as the bull has a strong grip on the market. We even have a formation of NSH on last Friday which broke above the previous high of 5220 in late Oct last year, forming a NSH at 5380 tdy. Thus, the winning strategy is "buy in dip" but with gud SL and not keep buying in the dip...This is suicide.
\The next level to watch is actually happening now...5220-5250 and the next level is 5130-5170...
That's all for the update today.
*plan your trade and trade your plan... gud luck*
resistance : 5380
support : 5220
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!
CPO Extended Gains to Record HighPalm oil prices gone up higher as expected and closed at 5322 after posted record high at 5327.
Factors continue to affect palm oil prices:
1. New export permit policy in Indonesia which required exporters of vegetable oil to gain approval for their shipments and declare their domestic sales with the objective to ensure that sufficient supply of cooking oils in domestic market. New regulation may curb supplies from Indonesia and led buying spree in Malaysia. Besides, India likely to shift their imports to soybean and sunflower oils as replacement.
2. Bullish sentiment in global oil market continue to support palm oil prices.
3. Strong gains in soybean oil following latest weather forecast that turned into hot and dry weather in Argentina and Southern Brazil which may result further yield deterioration.
Technical View:
1. Market break new high and closed above 5300
2. Stochastic remains uptrend signal
Suggestion Trade:
Long if stay above 5300
Target Stop Loss (support level) 5100
Target Profit (resistance level)
TP1 5425 TP2 5525 TP3 5625
FCPO Continue RallyPalm oil prices posted gains and closed at 5123, after touched on resistance at 5164. For your information, FCPO January contract expired last Friday. Next Monday onwards will be started to trade on FCPO April contract.
Factors continue to affect palm oil prices:
1. Market remained concerns over labour shortages which caused lower palm oil production.
2. Price movement in related vegetable oils as they compete for a share in global vegetable oils market.
3. India edible oil imports in 2022 expected to fall by 2% as the country boost domestic production, said Malaysian Palm Oil Council at an industry conference.
4. Malaysia Biodiesel Association urged industry officials to come to terms with steady decline in imports of palm-based biofuels in European Union following its decarbonization agenda.
5. Stronger Ringgit Malaysia pressured as overseas buyers find it costlier to purchase Malaysia CPO.
Technical View:
1. Market closed above 4900
2. Stochastic shows K% line crossed up which indicates uptrend signal.
Suggestion Trade:
Long if stay above 5000
Target Stop Loss (support level) 4850
Target Profit (resistance level)
TP1 5100 TP2 5200 TP3 5300
Happy Trading!! Cheers.
** DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK **
CPO Breaking Historical High 5220Palm Oil prices extended gains and closed sharply higher at 4993. As market eyeing on upcoming MPOB data to assess the impact on production from flooding in recent weeks disrupting harvesting activities . MPOB data is scheduled to release its Dec data on Monday.
Factors continue to affect palm oil prices:
1. Ongoing flash floods in several states continue to weigh on palm oil prices
2. Seasonal low production cycle during the 1st half year with higher demand expected ahead of Chinese New Year.
3. Labor Shortage remained key issue
4. Higher CPO prices raising worries over stiff competition from Indonesia
5. Persistent supply concerns in Soybean Oil due to hot and dry weather in South America served support in palm oil prices
Technical View:
1. Market closed sharply higher at 4993, right below level of 5000
2. Stochasctic shows K% line is crossing up which indicates market turning up and resume uptrend.
We expect market continue to move higher if market stays above level of 5000.
Suggestion Trade:
Long if stay above 5000
Target Stop Loss (support level) 4850
Target Profit (resistance level)
TP1 5100 TP2 5250 TP3 5350
FCPO TRADING : 314) reversal of trend, invalid bearish bat this is haidojo and the number is 314 ...
Merry Christmas and Happy New Year ! Today is 6th Jan 2022 and fcpo-March22 is still the active third month. This is the first post this year. The previous bearish bat pattern is no longer valid as the "X leg" is violated. Yesterday, fcpo-march22 not only broke abv the resistance of 4850 but also retest the previous higher-resistance at 5040. Hence, by doing so, the price has broken abv the previous lower-highs at 4950 and 4914 and a "bullish rotation" is said to have had happened. Now, the tide has changed and the new preference is going for the "long on the dip". The first "killing zone" to lookout is ranging frm 4890 - 4810 with the solid support at 4845-4850...If you have observed dearly, this is the first "resistance-turn-support" region to look out for. The next support to look at is ranging frm 4730-4710.
That's all for the update today.
*plan your trade and trade your plan... gud luck*
resistance : 5040
support : 4810-4890
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!
Palm Oil Upside Continue?Palm oil prices extended gains and closed higher at 4697
Technical view:
Market holding well at 4600
Market likely to move within the range of 4600-5220
Stochastic level: Market move towards mid level which indicates sideway range signal in the market
Suggestion Trade:
Market expect to move in range to upward bias ahead of Malaysia Palm Oil Board data release (10 Jan 2022)
Initial Long if market stays above or near support level at 4600
Stop Loss (Support level) 4465
Target Profit (Resistance level) TP1 4900 TP2 5000 TP 5100
Initial Short if near resistance level at 5100
Stop Loss (Resistance level) 5230
Target Profit (Support level) TP1 4700 TP2 4600 TP 4500
Disclaimer: Trading Carries Risks.
Happy Trading!! Cheers.
FCPO TRADING : 312) possible bearish bat pattern in sideway mktthis is haidojo and the number is 312 ...
Today is 28th Dec 2021 and fcpo-March22 is the new active third month. This is my second post after the commencement of the T + 1 night trading since 6th Dec 2021. Night trading is not that merry, but it is still too early too say. The impact on the fcpo market is still mild but it has great effects on the traders who already trade full-time/part time especially those who have other side income other than trading fcpo. Time management becomes crucially important as they have to devote their night time frm 9:00pm-11:30pm as well. Unless u juz trade certain sessions eg for me, I juz trade the morning sessions and go to work in the evening and night time. This however posts some gravely side effects as when the trend comes, I have to monitor frm time-to-time tru other apps...highly recommend "wen hua chai jing",,,u can get real-time charts and functions...
Back to our business here. Thr is another thing to watch out. A possible formation of bearish bat pattern. The killing zone is somewhere around 4845-4850, SL could be put some 20-30pts abv the entry and 1st tp 4760 and 2nd tp 4630...that's all for this year. see u next yr.
Merry Christmas and Happy n=New Year!
*plan your trade and trade your plan... gud luck*
resistance : 4755, 4850
support : 4630, 4560
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 Holding Strong Above 4200Palm oil closed bounced and closed sharply higher at 4649.
There were several factors that keep CPO prices higher:
1. Upcoming CNY in Feb 2022 raising expectations of fresh buying by China
2. Stronger soybean oil prices due to hot and dry weather concerns that threaten crops prospects in South America.
3. Malaysia keep export duty at 8% for January 2022.
4. Reaction over recent flash flood further slowdown on palm oil production
5. Labour shortage
Technical view:
1. Market closed above 4200
2. Inside bar or Harami formed at support level of 4200, indicates reversal sign
3. Stochastic level: turning up to cross above D% line
Suggestion Trade:
Market expects will continue to move higher to test on the very 1st resistance level at 4950
Initial Long if market stays above 4650
Stop Loss (Support level) 4285
Target Profit (Resistance level) TP1 4900 TP2 5000 TP 5100
Disclaimer: Trading Carries Risks.
Happy Trading!! Cheers.
Can Palm Oil Prices Hold at 4000?Palm oil prices slumped and closed at 4408. Last week palm oil prices broken support level at 4700 and touched on weekly low at 4245.
There were several factors we can look into:
1. Market plunged about 4.5% on Wed after cargo surveyor reported larger than expected drop in export
2. Price movement in global vegetable oils market also affected palm oil prices
3. Stronger crude oil prices has make palm oil prices more attractive
4. Tightening production due to labor shortage continue serve support to palm oil prices
5. Stronger dollar and weakening Ringgit Malaysia also helps in palm oil prices
Technical view:
1. Long Black bar formed which indicates bearish signs
2. support level at 4500 broken, market further test support level at 4200
3. Stochastic level= remain bearish sign
Suggestion Trade:
maintain bearish view for FCPO next week with immediate resistance level at 4545
Initial Short if market below 4545
Stop Loss (Resistance level) 4845
Target Profit (Support level)
TP1 4200 TP2 4025 TP 3875
Palm Oil Prices Back to the Range of 4700-5200 Again?Palm oil prices closed higher and back to the range of 4700-5200.
Several Factors that make the palm oil prices back to the range of 4700-5200 as below:
1. Weakness in soybean oil after US raised proposal to scale back biofuel blending mandates
2. Shortage of Workers due to coronavirus pandemic & higher cost of recruitment as palm oil producers make changes in response to accusations of forced labour
3. Record high fertilizer prices
4. MPOB showed higher inventories offset by lower production and higher exports
Technical view:
1. Doji formed after range trading between 4724-4949- signal market struggle for new direction
2. Harami indicates reversal signal
3. Stochastic level= remain bearish signs
Suggestion Trade:
Buying at support 4700; Stop Loss 4600; Target Profit 4950-5000
Selling at resistance 5000; Stop Loss 5200; Target Profit 4750-4800
Disclaimer: Trading Carries Risks.
Happy Trading!! Cheers.
** DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK **
Can CPO Sustain Above 4500?Palm oil plunged as expected last week. Market hit weekly low at 4567 and closed at our 1st resistance level.
Main reason of the weakness in CPO market due to the uncertainties over the impact Omicron coronavirus variant which dented demand for CPO.
Technical view:
1. Immediate resistance level: 4700-4730
2. Stochastic level= Sell Signal remain
Suggestion Trade:
Initial Short position
Stop Loss at resistance level: 5000-5100
Target Profit level (support level)
S1 4500 S2 4385-4400 S3 4200
Disclaimer: Trading Carries Risks.
Happy Trading, Cheers.
