FCPO AT CROSSROADS: WHERE TO NEXT?

60 min chart: From here onwards it's anybody's guess which direction FCPO is headed. After quite a significant rally gaining some 368 pts. It retraced last week closing at 2506 near a major support

after hitting a high of 2632 earlier.

Position stopped out out this morning

My positon was stopped out this morning near the opening at 2599 with a profit of 289 pts. for this contract.

RE ENTER LONG

I re-entered my long position @ 2377 after taken profit the other day @ 2386. Market seems to be holding on. Total back to 2 lots

Note ;  due to lack of response and interaction. I may decide to stop blogging later.

FCPO GETTING WEAKER STILL HOLDING.

FCPO is getting weaker but somehow it is still holding.

LONG ENTRY OPPOTUNITIES IN THE 5 MIN CHART

The next long opportunities after the initial long for those who missed it.

FCPO - STRONGER BY THE DAY

FCPO  is getting stronger by the day after the 1st breakout. Followed by another breakout while recording higher lows and higher high recently looks positive at the moment.

FCPO breakout

FCPO today broke-out above the bullish flag and closed the day above the 100 Mav. Let's see whether it is sustainable.

FCPO still bearish even though at slower rate

FCPO - still bearish even though at a slower rate recording lower lows and lower high.

Buy @ 2340 near the closing

Stopped out @ 2357

My position was stopped out @ 2357 to realised a profit of 16 pts.

11/4/2013 ; 1st lot BUY 2341 near the closing.

SELL AT 2410

I Sell the 1st lot for a profit of 32 pts just after market opened afternoon session on the breakdown of both rising wedge and a bearish flag. The market is a sideway market and my opinion is it still has some more correction.

Weekly Candlestick from TC Pro- SELL signal

A SELL signal given based on TC Pro's candlestick expert on the weekly chart.

FOOD FOR THOUGHT. CAN ANYBODY GUESS WHICH WAY IS FCPO IS HEADING NEXT?

1. Indicator wise both RSI and the MACD are showing 'up'. 2. Chart pattern wise it broke up above a descending triangle but later it gave a false breakout above a bigger descending triangle and then retraced

. 3. Late Feb. it broke down a major rising wedge ( should be bearish) but instead it went sideways until now.

29/3/2013 ; BUY back 1st lot at 2378

I bought back 1st lot at 2378 today after being stopped out at the break  down of the bearish flag on the opening 26/3/2013. ( I should have reversed my position at the same time but don't have the guts to do it at that point of time).

Daily and Weekly charts ; BULLISH.

D

Daily chart; BUY signal on the 20/3/2013 and still rising.  Weekly chart; Candlestick pattern 'bullish harami' reversal is positively becoming a reality.

22/3/2013 ; 2483 (MAY)

Formation of a bearish flag. Still holding 1st lot BUY on 13/3/2013. Market will remain bullish as long within or above flag. Bearish if break down.

15/3/2013 ; FCPO - 2413 ; ALL INDICATIONS BULLISH REVERSAL

Weekly chart closed lower but all indications are showing a very likely bullish reversal is in the making.The daily chart is showing a bullish divergence on both the RSI and the Stochastic.The weekly candle is showing a bullish harami. A bullish movement is expected next week.

13/3/2013 ; BACK TO BULLISH MODE.

FCPO ended the day BULLISH as it broke out above the bullish flag near the closing.

13/3/2013- BUY 2nd lot at 2374 but sell at 2396.

I made another BUY for 2nd lot at 2374 and then SELL back 2396 just before closing for a profit of 22 pts. Remainder; 1 lot BUY at 2385.

13/3/2013 ; BUY BACK 1st LOT AT 2385

I bought back the 1st lot at 2385 when it broke above the pennant. I am not sure this is a good trade or not but let's see.

STOPPED OUT AT THE OPENING- 2435

My 1st lot was stopped out at the opening at 2435 . It was a breakdown from the rising wedge            ( bearish signal) to realised a profit of 66 pts

60MIN CHART - SELL SIGNAL

Initiated a SELL for the 2nd lot to realised a profit of just 9 pts. A small profit is better than nothing. The market hasn't been moving much lately as if waiting for something...remainder 1 lot left

8/3/2013 ; BUY back 2nd lot at 2445.

I initiated a BUY back for the 2nd lot as it broke above the Pennant at the afternoon session near the closing. TOTAL lots; 2 BUYS.

SELL 2nd lot to take profit

I sell initiated  a sell for the 2nd (2397) lot to realized a profit of 37 pts . It is a bearish signal.

7/3/2013 ; LIMITED DOWNSIDE POTENTIAL - ANOTHER BUY AT 2397

I decided to add another lot  to buy at 2397 at the afternoon opening . It has a limited downside potential when  in the bullish flag. Now total 2 lots.

4/4/2013; FCPO - 2367- END OF CORRECTION? BUY AT 2369.

FCPO ended the week at the low of 2367 after charting a high of  2585 on the 25/2/2013.It broke down since from the bearish flag and plunged down to form a falling wedge in which it gave up more than 200 points to close 2367 Friday. I suspect it to rebound since it broke up the wedge Friday 2nd session. I decided to buy the closing at 2369. From now onwards I will try to record my trades in this blog. 

9/2/2013 - FCPO - 2560; BULLISH STILL.

This week FCPO ended the week at 3560 after recorded a new higher high last week of 2593 and a higher low of 2529. It now formed a 'descending triangle' above at the end of the 'rising flag'. This indicate that even after a week of consolidation, it's still very 'strong' indeed as it ended above the moving averages.Is this the start of a SUPERBULL run? If it breakout above the triangle it's BULLISH and if breakdown below the triangle its' BEARISH.   

3/1/2013 ; FCPO - 2475 ; BULLISH STILL.

Fcpo bullishness still intact since it's still within the 'rising wedge' since the last 2 weeks. From a low of 2217 on the 13/12/2012, it has risen to a high of 2524 yesterday recorded a higher lows and higher highs. Fundamentals are positive due to rising soyoil prices and also bad weather conditions will hamper palm oil production. Bullish if price within wedge or break up. Bearish if break down.