ArifHasbollah

How to trade FCPO intraday?

Education
MYX:FCPO1!   CRUDE PALM OIL-RINGGIT FUTURES
Setup for Intraday :
1. Price near/ cross EMA200
2. Understand market structure either uptrend/downtrend/consolidation to be able to determine the SnR for the breakout.
3. Market trending confirmation by EMA14, EMA50, and EMA200.
4. Wait for a pullback when stochastic oversold/bought.
5. Make sure price reverse at least 3 candlesticks .
6. Entry when price pullback again :
a) At previous support
b) At EMA
c) Stochastic oversold/bought again.
7. Exit
a) Stoploss at the beginning price before breakout
b) Target profit using Fibo Extension 1.618.