FCPO Update Analysis 17-21.10.2016

Assalamualaikum and Good day fellas.

Last week analysis was short-lived and price started to climb up on Tuesday, hitting our stop loss. (entry was hit below red arrow)

It was proven that Bear failed to punch the bull and surrendered. We did some damage control by reversing the position (according to the trading system) and recoup the losses.

Enough for last week.

Let see what market has to offer for next week.

Weekly

Daily

Potentially, it will test the Red zone again (SoyOil did some push up on Friday night, so expect a gap up on Monday). Do Not rush in following the gap. Relax. Buy on weaknesses, according to the plan.

For me, it is a little bit stress for October, since I increase the lot (double it up) starting this month after the capital growth tremendously since last 3 months. Nevermind. Just follow the plan. 

How about you?

Till then, Happy trading. TAYOR.

FCPO update analysis for 10-15.10.2016

Assalamualaikum & very good day fellas.

As anticipated, 3 out of 4 candle last week ended up as a bearish candle.

Lets take a look on FCPO market this week. My take, it may gets some breath before continues it's journey to the south. The barrier it needs to break is support at 2547-2538.

When I try to read the chart - I write it down of what I see. By doing that, at the end of reading - I can summarize it whether it is more towards bearish / bullish. From that point, I need to wait for the trigger to come in and act accordingly.

This approach was first thought to me by Cikgu Khalid Embong or known as Goldfinger in the forum many years ago. When I attend the class conducted by WR (as a refresher) -the same approach was thought there. haha. what a coincidence. Important point is - WRITE IT DOWN!.

So, you choose yourself - your trading strategy must be simple enough for you to trigger. Either you want to trade both direction or waiting for the trigger in the direction you analyse, it is up to you. Either way can make money. Trade wisely.

Weekly

Daily

FCPO Update (Analysis for 22-26 August 2016)

Hi everyone,

Lets take a look on weekly & daily chart of FCPO (future crude palm oil)

Weekly - 

CS pattern - long upper shadow -  potential pullback- bearish.

Trendline - Breakout of bearish trendline - bullish

Structure - yet to break last LH.- maintain bearish

Daily-

CS pattern - Harami at resistance - potential going lower.- Bearish

Trendline - Breakout of bearish trendline - Bullish

Structure - making HH. if break 2530, then 'Low' is established.

At the moment, price stops at 2580, with resistance at 2650-2680 area. 

My opinion, for price to further up, they need to break 2680 area. My guess, it will try to find footprint at minimum 38% fiboa area or deeper. who knows. Trade what we see OK.

Daily Chart

Weekly Chart

Below is the trade table for year 2016 (updated up to August 2016). Purely Daily chart only. I trade tf30 chart and tf daily chart (separate account).