FCPO TRADING : 251) bullish divergence
this is haidojo and the number is 251 ...
as for what has happened today is...a glimpse of possibility of reversal of the trend...
Why I say that?
I saw the first sign of reversal ----which is bullish divergence in hourly chart/timeframe...
but all counter-trend traders, hold your horses first, it is not that simple...I don't mean that fcpo-apr will reverse tmr and hit all time high again
immediately...what I mean is, price action shows that the bull has rebound a bit today, trying to fight over bear for control...
however, the whole fcpo market is still in downtrend...bear is still in firm control...if we see more and more reversal patterns/signals come in, then only we can say that the bull has come back...
bullish divergence that I try to introduce here is when price hits lower but RSI shows the opposite direction...moving up...
that is the classic bullish divergence but beware bcox daily chart RSI hasn't hit OverSold region yet...not quite yet...
so, the chance of market dropping lower is still higher...short on rebound is still a preferred strategy...
*plan your trade and trade your plan... gud luck*
highest resistance : 3464 (might reverse bear trend)
resistance : 3270- 3350
support : 3145-3200
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures 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!
as for what has happened today is...a glimpse of possibility of reversal of the trend...
Why I say that?
I saw the first sign of reversal ----which is bullish divergence in hourly chart/timeframe...
but all counter-trend traders, hold your horses first, it is not that simple...I don't mean that fcpo-apr will reverse tmr and hit all time high again
immediately...what I mean is, price action shows that the bull has rebound a bit today, trying to fight over bear for control...
however, the whole fcpo market is still in downtrend...bear is still in firm control...if we see more and more reversal patterns/signals come in, then only we can say that the bull has come back...
bullish divergence that I try to introduce here is when price hits lower but RSI shows the opposite direction...moving up...
that is the classic bullish divergence but beware bcox daily chart RSI hasn't hit OverSold region yet...not quite yet...
so, the chance of market dropping lower is still higher...short on rebound is still a preferred strategy...
*plan your trade and trade your plan... gud luck*
highest resistance : 3464 (might reverse bear trend)
resistance : 3270- 3350
support : 3145-3200
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures 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!
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