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. The major trend market structure is an uptrend.
2. Early morning session continues from previous day give us short term trade for downtrend move.
3. Once the downtrend market structure is broken, prepare to find the long entry opportunity
4. There is 2 type of entry. Risky and safe entry.
5. Risky entry when EMA14 + EMA50 still below EMA200 while price...
My view on FCPO;
1) Price is to rally higher to the next Resistance level
2) Price is expecting to do a bullish reversal at the 0.5 fibo level which also respecting the previous resistance turn support level
Will enter into a position when price reaching 0.5 fibo and make a higher high. Targetting 170 to 175 ticks.
