FCPO formed hammer at immediate support level at 4750 by last Friday and bounce following MPOB data today. MPOB data showed flat to lower production and extended labor crunch slowed harvesting activity continued. Technical view, 1. touched support level at 4750 and bounced 2. hammer formed at support level 3. stochastic at oversold level Can seek for long...
Palm oil range lower as market remained cautious ahead of export data and MPOB data release. However stronger rival oils and global supply concerns remained support. Palm oil range: 4800-5100 Stochastic level at 50.00 indicates market direction remain uncertain.
Palm oil prices remains at 5,000 last week. As market remained concerns over low production and inventories due to labor shortage. However, reducing in export demand capped gains. Market likely to move within the range of 4750-5250 in near term, until market break from the price range and sustain above 5250 or below 4750, then follow by new direction. While...
Palm oil prices remained strong due to rising in export demand while labor shortage, lower productions and inventories issues remained. Palm oil market major trend remained UP. However, near term likely to move within the range of 4950 (support) -5250 (resistance). Strategies to apply: Long when near Support level Short when near Resistance level With...
FCPO price almost reaching wave (3)(Cyan/Light Blue) at around 5300 .. price may have deep correction soon before final leg up wave (5)(Cyan/light blue)
MYX:FCPO1! is looking really buoyant, expecting further upside for this commodity targeting the 127.20 fibonacci area soon. Upside potential on this.
The trend is there. We need to wait the Correction completes. Good luck.
1. Yesterday 15min TF consist of 3 inside up, Bearish engulfing. 2. Today's price has fake breakout when price open below yesterday low and price close back inside the range for 15min TF. 3. 5min TF has a bullish engulfing pattern. 4. Notice the bullish flag pattern. Strategy : 1. Wait for a breakout the flag pattern 2. 15min price pullback and maybe retest...
1. Price break down trendline. 2. 3 inside up CS pattern at 15min TF. 3. 5min TF breaks market structure when price break the nearest resistance. Strategy : 1. Wait for pullback and rejection CS @ 15min TF. 2. Potential buy zone at confluence area of uptrend and downtrend line. 3. another potential zone is when the price rejects EMA14 at 15min TF.
1. Price rejection near the resistance + Gann level after upward movement 2. Trade bit risky because the price is able to break EMA14+EMA50. 3. Set sell limit order at the open of bearish rejection CS. 4. Stop loss order is 1 x ATR from 5min TF = 16tick from highest rejection CS. 5. Target profit is at the nearest support or when 15min have bullish reversal CS....
1. Short-term trade only. 2. 15min have 2 Doji indicate indecisive condition. 3. Entry chance if price close on either side of the inside bar.
FCPO is dynamic.. 1. Yesterday's price have a strong bearish movement in the morning session followed by rejection in 15min TF and formed a tweezer bottom at 5min TF. 2. Bullish does not have momentum after 15min TF has a bearish engulfing pattern. 3. Price rejected EMA14 multiple times with a bearish engulfing pattern indicate strong sellers. 4. Today morning...
1. 15min TF have doji CS indicate indecisive condition. The next candle after Doji usually determines the next trend. 2. 5min TF have form tweezer bottom. Testing same level 4367. 3. Both TF have oversold stochastic. Higher probability for an uptrend. 4. Bullish trend will be strong if there is bullish engulf for 5min TF.
1. Yesterday's price was able to break the significant resistance. 2. Price in the previous range zone from 4413~4560 (134 tick range) Strategy : 1. Wait for price pullback at the potential support area. 2. Look for bullish reversal CS pattern at 15min TF. 3. Entry confirmation at 5min TF when there is morning star/hammer/Bullish engulfing pattern. 4. Limit order...
1. Price reject previous support 2. 15min TF form 3 inside up howtotradeblog.com 3. Wait for a pullback for entry.
1. Price reaches the resistance zone. 2. 15min reversal CS. 3. 5min formed evening star CS. 4. Price hit upper trendline.
1. Yesterday price breakout high of 6 Sept 2. Yesterday Rejection CS at 15min TF. 3. Yesterday 5min have a Morning star candle pattern. 4. Today 15min CS has rejection with bullish CS. 5. 5min TF have bullish engulfing with a hammer. 6. 15min TF reject EMA14 7. 5min TF reject EMA50 Repeat the same strategy all over again.
1. 15min hammer CS pattern. 2. Bullish Engulfing at 5min TF. 3. Gann level at 4357 Pullback entry