CPO price trading
We aim for holding short position
1st short signal if RM2298 break.
2nd confirm short short signal if RM2231 break.
Profit target for longer term is RM2093 and RM1930 regions.
Cut loss if hourly bar closed above RM2333. Not high above RM2333
* This cpo sell down would be the last sell down according to wave count.
*It's possible CPO would reverse trend to bull trend once either 1 profit target reach.
Possibilities of CPO trading
1st option,
CPO price traded above RM2350, suggest to stay out from the market
CPO next resistance RM2377, if RM2377 were violated, it's possible bull rally comes to the picture. but, suggest to stay out, wait for clearer picture. Long position is not recommended.
2nd option,
CPO price trade lower than RM2298, try to short 30% of the total intended amount. Cut loss still remain on hourly bar closing at RM2333.
CPO first sell signal appeared.
ReplyDeletehowever, still have possibility to rebound upwards to 2300 region.
cut loss still remain at RM2333
CPO, selling signal more confirm, target at 2093 and 1930.
ReplyDeletehowever, i think CPO would trade volatile today.
happy trading days. all the best u all
CPO possible rebound to 2300 levels.
ReplyDeletebe aware of 2273, 2283, 2293, 2307
ReplyDeletefail to break this level, short cpo.
likelihood at 2307