Review

Last week was another good week for us. We caught a nice move on FCPO on the start of last wednesday as prices triggered a sell signal for us. We made nice profits as sellers took prices past the strong 2,235 support and close at 2,222 for the week. Considering last week was a short trading week, there's only 3 days, we only had 1 trade setup and it turned out nicely. 

Trading can be simplified. It does not have to be emotional. We traders do not need to sit in front of the screen every min, looking at tons of charts and indicators to find a good trade. All it takes is a solid trading plan and just wait patiently wait for the market to trigger a setup for us. We go for quality trades, not quantity. This philosophy, along with trading strategy, risk management and money management are what being taught in our exclusive pro member area. If you are serious and need my help, feel free to reach me out as well.

Alright! Let's continue this week trade ideas.

*This week I having some issues with video recording software, so this week I will not record video for weekly analysis*

FKLI

On a weekly prices posted a 7 point gain. In between prices went as low as 1,764.5 and as high as 1,807. Based on the day chart we are seeing so far, here is how we are going to plan our trades. We we will look for buying opportunities if prices can remain above 1,792. This is because if prices above this level, it means buyers are still strong and there is a possibility of an uptrend. We then can use the TLSC or MTF method covered in the Intensive Futures Program to time our entries. Once the market triggered an uptrend potential, these are the resistance zone we have to keep an eye on. The first uptrend target will the be 1,810 structure. It had capped a few advances in August and September. The second uptrend target will be the end of August structure high of 1,828. For risk management, stops can be considered at 1,786. This is because a close below this will negate our uptrend analysis. Hence traders can use this area for stop placement. 

Besides that, a close below 1,786 would expose FKLI to further downside momentum. Therefore we can also look for selling opportunity to trade in line with this potential downside momentum. First downtrend target will be the 1,762 zone while second downtrend target will be 1,742. For risk management, stops can be placed at 1791 and above. A close above this level will negate this downtrend analysis. 

FM70

FM70 traded below 14,970 at the start of last week and that is why prices initially went down to as low as 14,616 level. After that buyers came into the market to created this technical rebound. Currently prices are at this indecision zone between 14,970 and 14,800. A breakout towards either side will tell us the next coming strong market trend. A break and close below 14,800 tells us that the market will resume it's downtrend. We can look for selling opportunities shall this scenario happens. Downtrend targets will be 14,514 and 14,276. To limit our potential losses, stops can be placed at the 14,970 level. A close above this will tells us that the buyers are coming back.

In addition, a close above 14,970 will expose FM70 to a trend reversal. In other words, we can look for buying opportunities. First uptrend target will be 15,210 while second uptrend target is the August structure high of 15,650. However a close back below 14,800 negate is uptrend analysis. Thus traders can consider using this area for stop placements. 

FCPO

FCPO made progress and traded below the 2,235 support level last week. This tells us that sellers are in control of this market. In the middle of last week, FCPO also triggered our TLSC sell signal and we had updated our pro member area of the short sell trade setup, together with cut loss and specific target levels. Going forward, we will be on the sell side as long as prices below 2,235. Downtrend targets will be 2,192 and 2,140. For risk management, stops can be placed at 2,260 and above. A close above this level will expose FCPO to a strong rebound.

In addition, a close above 2,260 will also turn our attention to look for buying opportunities. This is because a close above this line tells us buyers are in control of FCPO. We can use the TLSC or MTF method taught in the Intensive Futures Program to time our entry for a better risk to reward ratio. Shall this uptrend scenario materialized, we can aim for targets at 2,300 and 2,350. To limit our potential losses, stops can be placed at 2235. This is because a close below it will expose FCPO to selling pressure.

Alright, that wraps up this week's analysis. Feel free to check out how the Intensive Futures Program can help you find high probability setups like we had for FCPO last week. Trade well my friends.

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