FKLI & FCPO Weekly Outlook Youtube

FKLI & FCPO Weekly Outlook Text:

You might realize one fact: When the reality does not match with the expectation, traders QUIT! 

This is because of the misled information or advertisement that caused many new traders assumed that trading is an easy job. They thought that with just a few clicks, money will go in your bank account. When I first started trading futures, especially FKLI & FCPO, I too thought that it is an easy job. Here is my naive thinking in my newbie year : I only need to extract RM 200 from market everyday, a month we have around 21 biz days. RM 200 x 21 days = RM 4,200/month for gross profit (before deducted slippages, commission,etc).

So without further ado, lets get started with FKLI & FCPO futures outlook.

FKLI

FKLI yesterday closed lower by 2pts from opening as prices closed at 1,713. Upon a second look of the chart, we noticed something important which others traders may overlook. For the past 3 trading days price is trading around the 1,719 and 1,711 zone. And you may noticed that on last thursday and on this week's monday, price rebounded from 1,711 zone. In other words, this price level started attracting a few big bargain hunters and possibly smart money as well. Armed with this information, we will make a slight adjustment to our trading plan, with the goal to identify high probability trade setups.

Scenario 1. Shall prices able to sustain above 1,711 and then closed above 1,719, I believe FKLI will start to trend higher. Traders in our pro member areas can use the TLSC & MTF techniques to identify valid trade setups. First uptrend target will be 1,730. Shall buyers able to defeat the sellers, it will create extra room for FKLI to trend higher with the next target at 1,741. Risk management is pegged at 1,711. Any price below it will negate our uptrend analysis. 

Scenario 2. When prices closed below 1,711, its safe to say that the rally is not in play. We then have to look for selling opportunities. Downtrend targets will be 1,700 and 1,690. Risk management is 1,719. 

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.

Schedule a free strategies consultation here!

Learn our Advance Trading Strategies Here!

Follow & Like our Facebook page here!