Weekly Futures Market Outlook 9 to 13 Oct 2017

davidleetgydotcom

Publish date: Mon, 09 Oct 2017, 12:29 PM

FKLI & FCPO Weekly Outlook Youtube(click here)

FKLI & FCPO Weekly Outlook Text:

FKLI

My apologies for not been posting the weekly futures market outlook videos because, for these past 2 weeks, I had been busy with my Intensive Futures Program. Although I had been busy & tired but I felt happy that we able to help these traders how to trade the proper way & not just simply gamble off their trading account. Overall it has been fruitful 2 weeks time because we managed to help traders solve their trading issues and improve their strategies.

Based on the latest price action, FKLI is likely to resume its uptrend. First this is because the market is above 2 important structure support: which is 1,752 and 1,760. Did you noticed that there are once, twice, 3 times and 4 times that the market found its support at 1,752? This means the smart money roughly came in around these zone and push the market upwards. So since the market is above these important market structures, we don’t want to trade against the market and instead shifting our focus on finding buying opportunities. And as long as market forming higher highs and lows, we will be maintaining our focus on buying. First uptrend target at 1,768, second target at 1,773 and possible 3rd at 1,780. These are all important structures which market had obvious price actions on. Risk management is 1,760.

However, sometime things wont go according to plan. Shall FKLI breaks below 1,760, we have to change our game plan. Remember as traders, we want to trade in-line with the market trend, not trade against it and lose money. So as I were saying, shall FKLI breaks below 1,760 and forming lower highs and lows, this means the buyers are defeated and the sellers are in control of the market. Hence we will be looking for selling opportunities with targets at the all important 1,752 structure. If that breaks, the next structure is 1,740. Risk management is 1,760.

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FCPO

The next market we are going to discuss is FCPO. FCPO roughly from July has been creating higher highs and higher lows until it failed to break the 2,900 structure. And since then the market swing lower and creating lower highs and lows along the way. Then the selling pressure stops at 2,650 structure. A couple of traders on my saturday’s Intensive Futures Program asked, what is the next market trend for FCPO? Is it going for an uptrend or downtrend? Now these are normal questions traders will always ask. I am sure you watching this video will also ask too. However, unfortunately, there is no certain answer. The market doesn’t listens to us. The market goes where it likes to go. As traders we just want to participate on any profitable trends the market presents itself to us. So here is our rough gameplan for FCPO.

Shall prices manage to stay above the 2,724 structure and start forming higher highs and lows, I believe FCPO will start trending higher. First uptrend target will be 2,744 structure with the 2,775 structure as second target. There is another third target at around the 2,803 structure. However, when prices breaks below the 2,724 structure, it will negate our uptrend analysis and hence from that moment onward the market likely to start downtrend. Consequently we will start shifting our focus to find selling opportunities and trade in-line with the trend. First downtrend target will be 2,700 and second downtrend target at 2,652. Take note, 2,700 is a psychological round number and market structure while the 2,652 is another structure where previously the buyers came in and pushed the market upwards.

These market structures are simple yet powerful. It certainly can help you to understand what the market is trying to telling you. Once you can identify market structures, then you can trade in-line with the main market trend. Obviously this is really not enough to start trading profitably, this market structure is just a piece of the overall puzzle. There are a few more pieces which you need so you can have a solid trading plan that covers entry, adding positions, cut loss and targets.

FKLI & FCPO & Forex events to watch out this week (Msia Time). Take good care of your trades.

Every 10th biz day of month, Malaysia Palm Oil Board’s Palm Oil stocks data. Expect some price volatility for FCPO.

Every 10th, 15th, 20th, 25th and last biz day of month, ITS & SGS Palm Oil export data. Expect some price volatility for FCPO.

DISCLAIMER

The information contained in this article is for reference only. No individual financial goals & risk appetite have been taken into account. Futures trading involve high risks.

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