Karkoon

Direction of FCPO #4

MYX:FCPO1!   CRUDE PALM OIL FUTURES
As we looked at the previous our TA chart. it seems that the market still can't break the resistance. But we will see on Monday, does the market will try to break the resistance or it will break the parallel channel . We have been waiting for market move from outside the parallel channel , so that we can have a better direction on short or long. But even now, we can see that the price can't break through that resistance on orange color that i have draw. the market already try to break the price so many times but still failed. so we are waiting for the price break the parallel channel . then we can have a clear direction.

In a smaller time frame like 5m / 15m / 30m, if the market open and try to break the resistance, wait for the break out. if still can't break the resistance. then can focus short until parallel channel . wait for the break support. and then can continue find setup for short

Remember, always entry with setup. Or else, u are in gambling industry. Happy Trade!

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