FCPO 8 Feb 2023 : Upside / Sideway
Yesterday's price made an upward movement followed by a sideway which looks like a distribution pattern after breaking the channel.
Today if the price sustains above the 3988 area, there is a chance of upward movement.
5min view later will update
Today if the price sustains above the 3988 area, there is a chance of upward movement.
5min view later will update
Comment:
Price cross EMA12 & EMA50 indicate sideway/downtrend.
Price back into the trading range.
Possible downtrend movement if break below
Price back into the trading range.
Possible downtrend movement if break below
Comment:
Comment:
Price trade in Sideway direction.
Base on fibo, expect price to trade from 236 to 786
Base on fibo, expect price to trade from 236 to 786
Comment:
EMA12 crosses below EMA50 = downtrend.
Confirmation when price close lower than previous support and sustain
Confirmation when price close lower than previous support and sustain
Comment:
Price break immediate resistance.
Price reject EMA10+EMA50
EMA12 crosses up EMA50
Target 25tick upside to 786 fibo level
Price reject EMA10+EMA50
EMA12 crosses up EMA50
Target 25tick upside to 786 fibo level
Comment:
As expected.. sideway trade.
But now price form uptrend channel..
wait price to test lower channel to entry buy again
But now price form uptrend channel..
wait price to test lower channel to entry buy again
Comment:
Price test previous resistance.
Uptrend channel tested
Evening star candle pattern = bearish. But not confirm until break lower 3976
Uptrend channel tested
Evening star candle pattern = bearish. But not confirm until break lower 3976
EMA12 still above EMA50 indicates an uptrend movement, however, if the price crosses EMA12 and EMA50, there is a chance of a sideway and downward trend.