Week 41: 05 to 09 October 2020 FCPOX 2020 analysis The price is consolidating at RM2,765 to RM2,800, once the price broke lower/support level, we will follow to short at RM2,740 area. I will look to short FCPOX as the right shoulder had been formed, and the only ingredient left is break-out confirmation. Here is my personal trade: Sell Stop at RM2,741 Stop Loss...
Week 40: 28 September to 02 October 2020 FCPOX 2020 analysis At the moment the price is in the consolidation zone, to make it simple to the naked eye, the price is forming the Right Shoulder. However, please note that there are many variations of the "right shoulder", it can be a straight horizontal channel, diagonal channel, flag, wedge, and ascending...
We're dealing with a MAJOR SIDEWAYS situation here, seeing the steep Up & Down swings & abrupt reversals between 2.6,2.8k --- 3.0,3.1k. 2.6-2.8k is KEY SUPPORT area on Weekly, price likely to consolidate within this zone, before deciding its next major direction. Long-term view, currently favoring UP, as long as S2 holds. Happy Hunting! 🥂🚀 -jk-
FCPO now is entering the supply zone once again after climbed more 1000 points after rebounded on May 2020. This zone has been visited 3 times in late 2016, beginning of 2020 and here in present. A V-Shape accompanied with a bearish harmonic deep crab may witness the upward trend could be stalling. Price action plays the crucial role to determine the price will...
Week 38: 14 to 18 September 2020 FCPOX 2020 analysis Last week the prices were consolidating in a wedge, it is similar to the Bullish Flag pattern. Therefore today's price was open higher and creating a price gap rather wide. The level to watch is MYR 2,892 If this price level is broken, the price will go higher. However, if it fails to break, then we are...
August sideways box, ranging roughly btw 2600-2800 zone has been broken, and recent test shows price chosen to stand above it aka bullish. Immediate resistance is near, R1 @ ~289x-291x ; while new support is formed, S1 @ ~278x-280x . Sideways-Up situation for me... Staying above immediate UTL, L1, may send price higher above >2900 Else, we may be in another...
Week 37: 07 to 11 September 2020 FCPOX 2020 analysis Last week the price broke the resistance level, however it was not a clean break. It means, it was not really a sign to be bullish yet. We are anticipating two possibilities: The key to observe is RM 2,740 - 2,750, we will see the behaviour of Price Action in this area. (1) If the price bounce at RM 2,745...
Week 36: 31 August to 04 September 2020 FCPOX 2020 analysis If you are still holding your LONG position from last week, now it is a good time to liquidate your position. Currently the price is back to our Week 34 position, whereby the price is in the middle of the range, quite close to the resistance level and no momentum at all. The same as the dead silent...
Week 35: 24 to 28 August 2020 FCPOX 2020 analysis This week is a continuation of last week consolidation, the price remains inside the up trend channel. As we are waiting for the price to break the channel, as at today, on the lower time frame we see that the potential to be bullish is higher than last week. This week my personal call is rather risky as the...
Week 34: 17 to 21 August 2020 FCPOX 2020 analysis If you are following last week analysis, we were bullish for FCPOX 2020. However, this week the price is exactly in the middle range which is risky for us to trade. The current range is around RM 200 with an immediate resistance at 2725. This week no trade call, as the Risk Reward Ratio is only 1R, practically...
Week 33: 10 to 14 August 2020 FCPOX 2020 analysis Last week the prices were ranging in a tight consolidation, our Buy Limit was not triggered yet; my view towards FCPOX 2020 remains the same. Buy at retracement level, hence we minimize our risks. This week trade call similar to last week with a small refinement: Buy Limit at 2611 Stop Loss at 2560 Take...
Weakening momentum finally coming into effect. 🐻 First close below UTL-L1 since July, potentially find L2, which resides near S1: ~260x Sideway box between 2600-2800 thus far, if S1 fails, look for next support zone, S2. Major Levels to Watch: ⚠️ R2: 276x-8x R1: 270x-2x S1: ~260x S2: ~250x My latest mobile updates available on TeL egr am ;) Happy...
Week 32: 03 to 07 August 2020 FCPOX 2020 analysis This morning the market open with a gap up and stopped at 2724 (at the same level as previous high). For here on, we better wait for a better signal, because: (1) if the 2725 level is being respected, it means the market will form a double tops. (2) if the 2725 level is broken with a clean break (bullish...
Strong rally, as price continues to break higher, momentum has been weakening since July15. Thus, may see some sideways consolidation ahead, before market decides its next major move. At the moment, still early to set the boundaries for potential sideways move ahead, For now, potential range between 260x-270x, or wider, will update as price develops. :) Happy...
CPO still playing within 230x-240x range, which has pretty much defined price movements back in June. Next test on S1: ~230x will be crucial for CPO mid-term (3Q2020) outlook. Slight biased to the bears as of writing. Shall S1 fail on next test, major target will be S2 zone. Levels to Watch: Major R: 244x-6x Major S1: 230x-3x Major S2: 220x-3x ...
Thursday June25 gap down violated Daily UTL... 👇🏻 Momentum weakness, look to S1 as potential first support zone. Important Levels to Watch: R2: ~246x R1: 240x-2x S1: 240x-3x S2: 220x-2x Happy Hunting! 💰🚀 -JK- MyTradingSpace
Idea #1 : 1st Wave Extension Expecting an expending or running flat is developing for wave 4 and a movement higher toward 2440 to complete this motive sequence. Idea #2: Wave 5 expending ending diagonal triangle We would like to see a strong movement toward 2160 area for this idea.