Weekly Futures Market Outlook 16 to 20 Oct 2017

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Publish date: Mon, 16 Oct 2017, 08:00 PM

FKLI & FCPO Weekly Outlook Youtube

FKLI & FCPO Weekly Outlook Text:

FKLI

Based on the latest price action, FKLI will resume its downtrend if prices below 1,760 and price action forming lower highs and lows. Downtrend target will be 1,752 and 1,740. Risk management is 1,760. Meaning any price that close above it will negate our downtrend analysis.

When prices do close and negate our downtrend analysis, we will be looking for buying opportunities to trade in-line with that potential uptrend. We will do so especially when prices above 1,760 and price action forming higher highs and lows. Uptrend targets will be 1,773 and 1,789. Risk management will be 1,760.

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FCPO

The next market we are going to discuss is FCPO. Last week we made 3 trades on this market. First trade was a loser as the market triggered our stop loss. The next 2 trades were winners. and these 2 trades easily recover our losses in the first trade. So in the end we managed to earn a handsome net profit for the week.

Trading is all about risk & reward. If you can manage your risk properly, you can easily recover from any drawdowns and net profit.

Going forward this is how we will prepare for FCPO. When prices remain above 2,744 and price action forming higher highs and lows, the market likely to resume its uptrend this week. Uptrend targets will be 2,775 and 2,803. Risk management is 2,744-40.

On the other hand, shall prices break below 2,744-40 and forming lower highs and lows, FCPO likely to trend lower. Downtrend targets will be 2,705 and 2,688. Risk management is pegge at 2,744-40.

These are the game plans for FKLI & FCPO. If you found yourself in a trade that you shouldn't be in or had huge unrealized losses, do cut loss immediately to protect your capital. It's ok to be wrong, BUT ITS NOT OK TO STAY WRONG. Keep your losses small.

HAPPY DEEPAVALI to our Indian viewers and everyone all the best in your trading.

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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