FCPO TRADING : 302)into the abyss....no man land

this is haidojo and the number is 302 ...

Today is 1st Oct 2021 and fcpo-dec21 is the active month. After a long awaiting of consolidation since July this year, fcpo price finally made a move which breaks into a new structure high yesterday, 4598 high and closed at this all-time high. Yes, that is correct. You are witnessing a history being made right now. This price and level has never been reached before, therefore I named it as the "no man land".

As the excitement grows, so does the danger which lurks behind the high price, as I am watching it right now, it opens at slightly lower level, 4550++...but still very close to the highs. The closest support I am observing is 4525, the previous highest close ever in mid-aug this year. As long as the price doesn't break lower than the support of 4320-4374, then it is still considered as uptrend...

Another move we need to take note is, as yesterday, the last day in Sept, fcpo-dec21 opened with a gap-up of nearly 90pts++(closed on 29th Sept at 4451 and opened at 4544). A gap could mean a continuous of the trend and also could mean an exhaustion gap, depending on what will happen next. Watch out for Double-Top formation or any kind of gap-down-go-down scenario in this week. That could becomes some kinda "head" formation and indicates a possible reversal...IF none of these happen, uptrend prevails...bull still has strong grip.

IF you are frm Malaysia, stay safe. juz go to work, buy groceries and go home. Get vaccinated.

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

resistance : 4600 -???

immediate support : 4525-4560

critical support : 4320-4374 (bull is valid till here)

: 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!


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.