FCPO TRADING : 321) falling off frm sky?
this is haidojo and the number is 321 ...
After hitting a double high on 2nd March22, 7108 and 9th MArch 22 ,7268 (so far, this is the record high), fcpo price has broken into NSL(New Structure Low) and since then fcpo market has been playing sideway frm 15th till 31st March22, ranging frm 5700- 6100...only on last Friday, another NSL---5477 is formed...so , we can conclude that the market is in downtrend now...Next level of support to watch out is at 5380 which is also the support level for daily uptrend. If this level is broken, both daily and hourly charts are in downtrend and we could see some fierce pull-down to happen...
Following the trend is still the safest route so watch out for "short on rebound" with resistance near 5700 and 6040. This is not a recommendation for buy or sell but it is what I am watching out for my own trading plan. However, not all gloom and doom, fcpo-june should see some reversal to happen if it could break abv 6100 and stay there / move higher.
That's all for the update today.
*plan your trade and trade your plan... gud luck*
resistance : 6040-6100 (reversal of bear to bull)
support : 5380 (daily critical support)
lower support : 5050-5220
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures , cryptos, warrants, CFDs, spreads, options or forex might incur a huge risk to your account/funds…DON’T LOSE MONEY THAT YOU CANNOT AFFORD…any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING. It is MERELY a trading journal and it has been used for educational purpose only…
TRADE AT YOUR OWN RISK!
After hitting a double high on 2nd March22, 7108 and 9th MArch 22 ,7268 (so far, this is the record high), fcpo price has broken into NSL(New Structure Low) and since then fcpo market has been playing sideway frm 15th till 31st March22, ranging frm 5700- 6100...only on last Friday, another NSL---5477 is formed...so , we can conclude that the market is in downtrend now...Next level of support to watch out is at 5380 which is also the support level for daily uptrend. If this level is broken, both daily and hourly charts are in downtrend and we could see some fierce pull-down to happen...
Following the trend is still the safest route so watch out for "short on rebound" with resistance near 5700 and 6040. This is not a recommendation for buy or sell but it is what I am watching out for my own trading plan. However, not all gloom and doom, fcpo-june should see some reversal to happen if it could break abv 6100 and stay there / move higher.
That's all for the update today.
*plan your trade and trade your plan... gud luck*
resistance : 6040-6100 (reversal of bear to bull)
support : 5380 (daily critical support)
lower support : 5050-5220
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures , cryptos, warrants, CFDs, spreads, options or forex might incur a huge risk to your account/funds…DON’T LOSE MONEY THAT YOU CANNOT AFFORD…any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING. It is MERELY a trading journal and it has been used for educational purpose only…
TRADE AT YOUR OWN RISK!
