FCPO could potentially be on its bullish course to reach RM 5000. However, there could be some room for the price to drop just slightly to complete of what could be a flat correction in the 2. An immediate break from the zone area highlighted with a box could suggest that flat correction have completed and might be on the 3 of (3) wave. Disclaimer This is NOT...
Yesterday : 1. Price able to break down uptrend channel. However, the support area is still holding up. 2. Maybe the price did reaccumulate again before the gap-up today. Today : 1. Price gap up due to high demand following SBO demand. 2. Price so far sustain above the supply zone. 3. Price still not yet at the immediate resistance level. If breaks above,...
1. Price reject mid-channel and retest lower channel. If the channel is still intact, high chance to continue the uptrend. 2. Market structure: Buy market structure is still intact unless the price breaks the 3906 level. 3. Price still plays around supply zone 4. Price reject EMA50 at 30min TF. New contract 15min : 5min : Price in sideway mode but uptrend still intact
1. Channel/Trendline: Yesterday price retest and reject mid-channel before going up to test the upper channel. This indicates strong buyers in the market because not allow prices to go lower channel. 2. SnR: Price plays in the support zone area and is still not decided yet on the direction. 3. Fibo: Price rejects 236 fibo level indicates sideway market still in...
30min view : 1. SnR: Price rejected the test support area and try to cross the resistance area. However not sustain above the zone. 2. Channel/TL: Price overshoot the TL but is not sustainable to go further. 3. MACD: still not shows an indication of bullish divergence even though green MACD already happening. 5min view in the comment
As you can see, prices make a higher high and higher low. The structure is there. So for me, a long position is less risky than a short position.
1. SnR: Price not able to sustain above resistance zone 3994. This indicates a strong seller 2. Channel/Trendline: Price break up trendline - Indicate sideway/change direction. 3. Oscillator: MACD from yesterday shows a bearish divergence Expectation : 1. Price will continue bearish momentum until at least close the previous gap. Trading plan as usual : 1. In...
SBO making a downtrend movement since Nov 2022. Based on EW rules.. price now should make Wave 5. Target to nearest support + Fibo extension 0.618. Another 2.8% movement. If we use this data for FCPO, there will be another around 100tick price to go down.
30min TF : 1. Price break resistance and test supply zone and push back below the resistance. 2. Price break uptrend channel. Indicate SW for 30min or change the trend. 3. MACD shows bearish divergence. If the price goes for bearish divergence, possible to close the gap and target to be around 3860. 5min TF : 1. Price crosses EMA50 : Sideway/Change trend 2....
This is my daily chart view. I think price will find resistance zone before making a decision.
Yesterday's price made an upward movement followed by a sideway which looks like a distribution pattern after breaking the channel. Today if the price sustains above the 3988 area, there is a chance of upward movement. 5min view later will update
Let's see if FCPO will go to the retrace zone and then make a decision. Go up or go down. The short-term decision, Long if breaks resistance and short if opens below resistance.
Price is still in the uptrend channel. Expect the price to retest the mid/lower channel. 5min TF, price respect EMA50. If today price cross EMA50, expect some trading range before next movement.
My drawing shows that FCPO bias for going more higher.
Based on Wyckoff's schematic, this is the accumulation phase after markdown. We identify SC and AR. Now it is just away from the ST level... The new trading range is still developing. However, this is the possible developing channel
Refer to daily chart, the trend lines still shows it is in bearish downtrend. MCD does not have red column, no banker chips, only have green color Losechip. Fortune crown does not have any signal for reversal. Mirage shows the green column, it is showing money flowing out, bearish market. Strategy is looking for Short entry in 15min or 1 hour timeframe.
FCPO Daily chart still in bullish structure. Perhaps to the next top trendline
Let's see if the price reaches the near support zone.