FCPO AUG 2021 CONTRACT KEY LEVEL = 3913,4166 CRITICAL LEVEL = 4468 09.06.2021 Expecting wave C of 2 toward 4336 area if price move above our key level 4166. Breaking below 3913 and 3852 will strengthen the idea of wave 3 is in play. My personal opinion, as long price is below our critical level 4468, the force is strong with the bear. Embrace probabilities: ...
FCPO AUG 2021 Quick update on my trading setup for FCPO Aug 21 contract. We found a recognizable pattern on chart, Expended Flat wave 4. Looking for short selling opportunity with impusle movement of wave C. Validation level for this idea is the extreme top or previous higher high, breaking this level, will go with diagonal triangle idea.
We can see a clear pattern or 5 wave movement to the upside both in daily chart and in the sub wave of wave 5. What come after 5 ? Looking for evidence that top is in place and patiently waiting for my short sell setup to join the counter trend movement.
Working on the idea of ZM zigzag sequence in daily chart.
Expecting a last rally to complete the wave sequence.
Idea #1 : 1st Wave Extension Expecting an expending or running flat is developing for wave 4 and a movement higher toward 2440 to complete this motive sequence. Idea #2: Wave 5 expending ending diagonal triangle We would like to see a strong movement toward 2160 area for this idea.
Potential counter for wave 4 pullback trading setup. Trading plan: Waiting for a buying setup.
BUY = 0.150, CUT LOSS = 0.125 Expecting a 5 wave sequence to developed toward 0.300 area.
See you again in the next trading opportunity.
Critical level = 27.55 Looking forward for short opportunity with soybean oil . 27.55 must hold for this setup.
Key level = 2144 Looking for buy setup for the last push in this 5 wave motive sequence. Breaking below 2144 will void this setup. Lets see what the market will offer us.
FCPO 20.05.2020 Critical level = 2024 There is a possibilities that price will go higher for last push to complete the sequence. Looking forward to see a pullback/counter trend movement in corrective fashion for wave 4 as an evidence that wave 3 has topped. Elliott Wave rules #3 " WAVE 4 CAN NEVER ENTERS THE PRICE TERRITORY OF WAVE 1" Invalidation level /...
FCPO 19.05.2020 Key level = 2038 Critical level = 1916 Expecting a 5 wave sequence to complete wave 3 in a larger degree, with an objective around 2180-2200 area. Trade probabilities, not possibilities.
Key level = 1916 For this idea, the 8 wave cycle pattern must complete and our key level = 1916 must remain intact. Breaking below key level will trigger alternate count.
FCPO DAILY CHART Key Level : 1916 Wave 2 complex correction; Triple Threes. Using Elliott Wave rule, key level is set at 1916 level. 1916 must hold for this idea. Elliott Wave Rules: WAVE 2 NEVER RETRACES MORE THAN 100% OF WAVE 1