HAIDOJO_trading

FCPO TRADING : 306) bracketing the market and potential reverse

MYX:FCPO1!   CRUDE PALM OIL-RINGGIT FUTURES
this is haidojo and the number is 306 ...

Today is 8th Nov 2021 and fcpo-Jan22 is going to expire next week. Nov is a bit tricky with last Friday when suddenly fcpo-Jan22 gap down close to 100pts and went down...If you are holding long positions, then thr is really not much u can do...cutting loss is the most logical thing to do btw...

As for the previous trading day, we could see a false breakout formed on thursday and a huge gap down on friday...it is not looking gud for the bull but the resistance is still at 5040 while the support is at 4844 - 4750...IF the price moves abv the 5040 level, THEN we can look for long on the bullish ride. IF the price moves lower than the 4750, THEN we could short on the bear grip. what IF the price locks somewhere in between?
for me, I shall do absolutely nothg...well, that's my plan...bcox market is moving sideway...sideway is no gud for me...

ok, folks. that's all for tdy ...I try to update more often but really, duty calls...and it sucks...

*plan your trade and trade your plan... gud luck*

resistance : 5040-5220

support : 4750-4840 (bull validity is here)

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!