FCPO posted its 2nd consecutive week of gains with price closed at 2,766. FCPO resumed its uptrend as correctly discussed our last week’s analysis. Most importantly prices are currently above 2,750, that critical line in the sand that separates the bulls from the bears. Based on latest price action, FCPO likely to resume uptrend as long as prices above 2,750, prices forming higher lows and highs and prices also above the EMA13. Uptrend targets will be 2,800 and 2,850. Risk management will be the 2,750 zone.  

On the other hand, the buyers are defeated and not in control of the market if there is a candle close below 2,750. When this event happen, be prepared to look for short selling opportunities. First downtrend target is 2,700 and second downtrend target at 2,650. This simple if, then process is how I approached my FKLI & FCPO and Forex trading. It had certainty helped me to removed any blind biased on the market, it made the flexible and can easily adapt to the ever changing market conditions. Thus I can easily capture any opportunities the markets present to us. I highly encourage you to back test and paper trade this if, then technique. It believe it will greatly improve your trading.