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1. The last accumulation hit our conservative TP and currently making a new re-accumulation phase with a triangle pattern.
2. If the price can close above 5090 there is a chance the price will continue the uptrend
3. or else possible downwards movement to form spring formation.
4. Notice massive...
As we generally know that CPO products usually have a bullish trend towards the end of the year due to short supply for any reason.
Therefore, if the price is still in bullish momentum, there are multiple possibilities.
New contract price range (FCPOF2022)
1)If the uptrend is still strong, the JAN2022 contract will try to break higher and close...
1. Yesterday price able to make a new ATH with a valid breakout
Trading Plan :
1. Setup : Price cross EMA50 indicates price might be downtrend or sideway.
2. Signal : Rejection @ 15min
3. Confirmation: Bullish engulfing
4. Entry: 50% of bullish engulfing
6. SL: 10tick below recent rejection
7. TP is subjective
Price almost reach the conservative PnF target price at RM5113
If we look at the current condition with a shortage of supply due to many reasons, the possible next TP is RM5480 which is PnF aggressive.
Yesterday closing market setup.
Trading Plan :
1. Setup : EMA14<EMA50 = Sell trend
2. Signal: 15min Price retest EMA14
3. Confirmation: 5min Bearish Engulfing
4. Entry: at least 50% bearish engulfing body CS
5. SL: 10tick above retest CS
6. TP: 15min support area / if there any rejection
If today price open above EMA14 consider the market sideway with this...
1. Yesterday 15min CS have a reversal pattern with bearish engulfing @ 5min TF.
2. Today's price has a valid breakout of EMA50. there are 2 possibilities when price breakout EMA50 :
i) Bigger sideway range
ii) Continue downtrend
3. Signal: 1st pullback after a breakout
4. Entry: After bearish engulfing @5min + 15min Bearish engulfing
5. SL: 10tick above...
Today BMD increased the min margin to RM7000 due to the high volatility of the market.
Trading plan today :
1. Setup: EMA14>EMA50 @15min TF
2. Signal: Price retest EMA14 @15min TF
3. Confirmation : Bullish Engulfing @ 5min TF
4. Entry: Since bullish engulfing body CS below 10tick, enter by market order.
5. Exit SL : 10tick below retest CS
6. TP: nearest...
1. Yesterday have bullish pennant formation.
2. Today morning open price hit TP with 1:1 for pennant formation
3. Bearish momentum strong
4. Possible formation of bearish pennant as long as not break the bearish engulfing pattern.
Target TP is 120point.
Key to take away for Future East Palm Oil (FEPO)
1. Port of delivery location :
Port Location advantage?
i) Closer to China which is the largest export for CPO. Less shipping cost for oil collection.
ii) Closer to Japan/Korea/Philipines/Vietnam
2. Trading hour : 9.00am~12.30pm and...
1. FCPO ATH might be due to multiple factors such as manpower shortage and rainy season. Supply is not enough, demand still consistent and drives the price to go higher and higher.
2. Price almost reaches 161.8% fibo extensions.
3. PnF target is around 5113 still further ahead.
4. Price reject Gann level 4831 multiple times
1. If price close below...
How do normal intraday traders determine Target profit?
1. Using Win/Loss ratio?
2. Fix Certain points per day only.
Using this method usually limits our profit during a strong market trend.
Another way to maximize profit during market trending by rank is :
1. Wait until 15min have reversal CS.
2. Understand FCPO daily price range (Normal Trending:...
1. Last week price break ATH.
2. Forming wave pattern and retrace at fibo 50%.
3. Pullback and rejected at anticipated reversal level.
4. Price break downtrend line.
Watch for the rejection at the resistance area. Possible false breakout or rejection for downtrend.
1. Re-accumulation phase seems completed with price break ATH.
2. Next phase is the mark-up phase.
3. PnF target TP is around 5113.
4. Fibo Extension 1.0 and 1.618 are nearest TP.
Watch for the upper channel. The price might be stopped and fall down again.
1. Based on analysts, the current price is not sustainable
2. Price almost reaches ATH before decide to break higher or lower.
3. Price consolidation for a couple of months can be reaccumulation or distribution. But based on previous spring formation and LPS indicate strong buyer.
For Buy..Wait for the price pullback to 4480~4490 range..Why?
1. Price have a large upward movement since the spring formation.
2. Expected price consolidate to establish LPS (last point of support)
3. Price expected to move within the 3 Gann level (70~80 tick)
4. Reach significant resistance.