FCPO SPREAD Contract May2024 vs July2024 is attempting breakout from previous swing high 141 Spread Bullish MA Lineup -> Trending Up Breaks and close above Turtle Resistant 138 -> Bullish Upward Momentum -> Bullish Support 124 Next target levels 165 179 203
Observing the FCPO, it's evident that the price is presently following a downward trend within a channel. The recent support level, previously at 4240, has now been breached and is acting as resistance. The question arises: will this level continue to exert significant influence in holding the price?
Last week bull failed to take full control. At the current level, the price looks a bit heavy and there is a bear push lower. It is 50:50 at this moment but the likelihood of another run higher might not happen next week. Anyhow a retracement lower is likely before another run higher. 4030 area is a target next week and price might consolidate after that. At this...
if the candle close and going down. the possibility for bearish is high. need to use lower timeframe for entry.
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.