Good morning followers, FCPO rebound recently after reaching near 50% retracement level. Despite we are waiting for Inverse to happen, we can see a FVG formation setup is appeared and giving a Buy Setup for continuation of a Bullish Trend recently. The Rally I expect it should be a minimum 1x length of Wave 1. Which is giving me a target around 4350+ approximately.
FCPO is making a push higher. Still with bullish view unless shown otherwise. As price didn’t go in a straight line, it is expected that it might retrace a bit towards 4200 area (this is also the area to look for entry to go LONG) to fill up the gap before making another bullish push. If this happens next week, then another leg higher should target the previous...
looks like the price is following the uptrend channel. i'm trying to follow the price using elliott wave and abcd pattern.
basically history will repeat itself. today candle break the downtrendline after touching the strong support. need confirmation and follow where it will go. continuation or reversal
The price is still bullish however some retracement is expected before a run higher. Expecting that this week it will make retracement towards 3995 area. Depending on the price action, another bullish push towards 4208 area before a quick run towards 4250 area (which might not happen so quickly).
5m chart, overall condition analysis. The combination of gcov5 and TCD osc will give more strength to a decision whether to buy or sell. In turn, it can increase accuracy and win. how to get a win in all positions? 1. refers to bull/bear trend ( TCD osc) 2. find a gcov5 signals based on SnD zone and early TCD trend 3. buy price 3 ticks below the close of the...
FCPO is to go higher. Strong bullish push towards a target of 4247 to its way to a higher target of 4425.
At the current price going LONG might be a good idea. Initial target should be around 4035. Expecting a bit of retracement after that before another run higher.
Step to identify the beginning of a reversal and making a decision for a trade. 1. Draw/mark the current trend based on HH/HL/LH/LL, and use the trend line at those points. 2. If the current price crosses the trendline, that's an early signal for a reversal. 3. confirmation of a reversal when the price breaks the structure/pattern (bottom/top). 4. After the above...
FCPO is coiling. Price is almost stalling last week. It goes up one day and then it got taken out the next day. So at the end of the week it is more or less moving no where. It might do the same next week within the flag formation. Still with bearish view for price to move to 3720 area which might be the support area before price eventually moving higher. The...
1) I see the price movement heading towards resistance, which is the previous trendline support now turned into resistance. 2) I use Fibonacci retracement to find the best price for selling. 3) I choose the selling area between the Fibonacci levels of 1.236 to 1.618, as I see confluence with the trendline and resistance at those levels.
1) The structure forms a new lower low, indicating downward pressure in the current trend. 2) There's a breakout from the support trendline which is likely to turn into resistance. 3) Price movement is expected to rise towards the Fibonacci retracement area between 50-61.8% before further decline. 4) The boxed area is marked as a confluence zone encompassing...
1) Prediction of a decrease in FCPO prices for the May contract. 2) Identification of resistance zones as the main reason for the downward prediction, including: -Trendline now acting as resistance. -Fibonacci retracement levels (78.60%, 1.236) and extensions (161.8). 3) The presence of a QM pattern, indicating a possible trend reversal.
FCPO might see a bearish price action next week. Probably before that there might be a retracement higher toward 3875 area before the move lower to target 3721.
After going higher the price closed lower at the end of the trading day. It createed a high wick which indicate that there is still possibility that price is going lower. Based on this for Week 7, price might see a movement lower towards at least 3815 area. Will need to see the price action at this level to see if price wanted to go higher.
At the current level FCPO might have found support. Price is now ready to go higher. Immediate target is the previous high. There might be a bit of retracement before it should resume higher toward 4245 area.
There is no signal yet for the end of the retracement. Short term target is the 3750-3740 area. Price will likely consolidate a bit in this area. Bullish camp might want to wait for bullish price action in this area before jumping in. Good luck!
FCPO is bullish however whether it will continue bullish will depends on the price action at the start of next week. It might push back towards 3870 area before making another push higher to the 4240 area.