TheDemonTrader

FCPO short term target

Long
TheDemonTrader Updated   
MYX:FCPO1!   Crude Palm Oil Futures
Wave 3 achieved the 2.618 target. Wave 5 possible to peak at 2575 area.
Comment:
wave 5 top at 2568 instead of at 2575. Bearish divergence appeared when price stalled at 2568. Bearish candle signal also appeared.

1. price reach SnR
2. Divergence
3. Candle signal
4. Wave count adhere to elliott rules.

= high potential for reversal. Happy trading :)
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.