FPKO1! trade ideas
FCPO TRADING : 223) still on persistent uptrendthis is haidojo and the number is 223 ...
today, fcpo-feb made an epic turn and reverse kinda movement...and the momentum of uptrend persists...
at least, it resumes its momentum on uptrend until the previous low of 3160 is broken...\
then, we might see some reversal in the trend...
now the immediate resistance is at 3350 and the Double-top position at 3414-3420...
*plan your trade and trade your plan... gud luck*
higher resistance : 3414-3450
resistance : 3350
support : 3260
lower support : 3160 (deciding bull/bear)
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures 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 : 221) still on persistent uptrendthis is haidojo and the number is 221 ...
forming a Double-top, which is a possible reversal signal, rising the previous low to 3280 -3000 as the critical support now...
lower support is seen at 3160 and 3100...price needs to push abv 3414-3450 new resistance level to move higher...
for now, it is still in uptrend until the support/resistance level is broken...
*plan your trade and trade your plan... gud luck*
resistance : 3414-3450
immediate support : 3350
lower support : 3280-3300 (deciding bull/bear)
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures 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!
Resume the rallyBase on technical analysis on FCPO1!, FCPOK has significant breakout above symmetrical triangle, which the minimum price objective would be at 3162. Support would be below apex at 2690.
Disclaimer: the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
FCPO - Road to 3400 and Above..Palm hit a one-week low in the previous session, after three straight sessions of losses.
Meanwhile...
The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange gained 16 ringgit, or 0.49%, to 3,295 ringgit ($803.17) a tonne during early trade.
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For some reason..
1- The world's largest producer of crude palm oil, warned on Tuesday that its fourth-quarter output would be hit by uncertainties over the weather and COVID-19 curbs.
2- Investors are now looking at Nov. 1-20 export data from cargo surveyors due Friday, after shipments during the first half of the month fell between 11% and 14% from the same period in October.
3- Dalian's most-active soy oil contract DBYc2 rose 0.5%, while its palm oil contract DCPc2 gained 0.5%. Soy oil prices on the Chicago Board of Trade BOc2 were up 0.2%.
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In terms of market ..
1- Asian equities were set for a sluggish open on Wednesday, tracking a lower Wall Street session as concerns over rising coronavirus cases and fresh lockdowns dampened the euphoria from vaccine trial breakthroughs
2- Oil prices fell on Wednesday after a bigger-than-expected build in U.S. crude stockpiles stoked fears for weak fuel demand and a potential supply glut, but hopes that OPEC and its allies will postpone a planned January increase to oil output braked losses.
As I mention in my previous post. How and Why it can reach to get a higher price....
Is it possible to hit 3400 and sustain above 3000 per tonne???? Hell Yeah!!
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Till Then, Happy Trading & TAYOR
Stay safe everyone..
Together we flatten the curve
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Nov18: CPO(1D) - Shall 3200 Hold, Likely See Rally to 3.4-3.6k🐮Bulls taking a breather as active contract move to Feb2021.
Major S: 320x-6x >> Watch if hold on test...
If support hold, Look for rally towards R1-R3: 340x-5x, 350x-5x, 360x-5x in about 2weeks time. ;)
I've been on Long since turn Nov, check out my many other social platforms for latest charts & market updates. 🔔⭐️
Check out my prev post on a Major CPO Bull Cycle (happening now!)
❇️https://www.tradingview.com/i/CwQkXxdU/
Happy Hunting! 🥂🚀
-jk-
FCPO TRADING : 220) still on persistent uptrendthis is haidojo and the number is 220 ...
today is the first day of fcpo-feb and that is not a real drop of 100pts...
it is more like the continuation of last month's price which extended into this month...
so the direction of the trend is still undefined yet...
price might test the previous higher-low at 3160, the rectangular space...
but before that, it needs to fall below 3260 - the previous high first///
which is the level where it turns frm resistance to support...
3350 is now the resistance level and supports are at 3260 and 3160...
*plan your trade and trade your plan... gud luck*
higher resistance : 3414-3450
resistance : 3350
support : 3260
lower support : 3160 (deciding bull/bear)
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures 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!
Resistance alertFCPOG seems optimistic, however we alert current price is at resistance level coincides appearance of Bearish Harami and overbought condition on Stochastic. We are still positive on the Bullish movement to 3517, however, correction or consolidation might occur this week. Liquidate earlier long position could be a good idea, however we need more confirmation for short position, unless for scalping purposes.
Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
FCPO TRADING : 218) still on persistent uptrendthis is haidojo and the number is 218 ...
fcpo-jan is hitting its last day today...next Monday fcpo-feb will emerge and substitute this fcpo-jan and becomes the new player...
so a DB today going back to support level at 3350...and temporary resistance seen ranging frm 3410-3450...the safest strategy is still
long on pullback/retracement...so, the best of luck!
*plan your trade and trade your plan... gud luck*
resistance : 3414-3450
support : 3350
lower support : 3200-3260
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures 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 : 217) riding on the breakout tradethis is haidojo and the number is 217 ...
as I said a day earlier, ride on the breakout trade today...so in the best of luck, you might harvest some profit but if encounter with bad luck,
probably loss a small amount and not burning a hole in your pocket...with gud Money Mgm and proper risk reward, you dun need to be
hitting more than 80% accuracy to stay profitable in the long run...
remember, " a consistently profitable trader is an excellent loser "
*plan your trade and trade your plan... gud luck*
resistance : 3350 - 3414
support : 3200-3260
strong support : 3100-3120
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures 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!
