Welcome to my latest weekly futures trading ideas. Let's check out what's in store for us this week. 

[weekly analysis video]

FKLI

As you can see from the daily chart, FKLI was hovering in near the bottom and has been sideways for quite some time. A sideways market can easily ate into traders emotional capital, especially for new traders.

Here's the pro tip i would like to advise to new traders:

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Make your chart as clean as possible and focus on price /candles. This is because you will get a lot of false signals if you you use indicators in a sideways market. I highly recommend you to do so. I believe you can interpret chart easily and with less confusion.  

So on the daily chart, there is a symmetrical triangle pattern and here is our plans: Shall buyers are strong and bring price past 1,700, we could see FKLI had an uptrend potential. The first potential uptrend target is 1,720 while the second uptrend target is 1,750, which is 17 Oct structure high. That being said, do remember to place your stops to keep any potential losses small. 

As mentioned earlier, FKLI is still indecisive. So we have to plan our plan B. Assuming the sellers are much stronger and able to secure a close below 1,680, then FKLI is likely to resume it's downtrend. First downtrend target will be 1,675 while second downtrend target will be this year's low of 1,655. No trade is a guaranteed winning trade so do remember to place your stops to limit your potential losses. 

FM 70

Let's checkout the second market: FM70. The market is a sellers market as long as prices below 13,751. This is the case so far and therefore we expect prices to go down. The likely potential downtrend target will be around 13,400. If sellers are still strong, we then expect to see prices go down towards the structure low of 13,020.

However this downtrend analysis is cancelled out when the buyers able to secure a close above 14,000. This is because if we look towards the left, we could see that the market had formed a series of lower highs. Thus it will spark a buying pressure in the market. First uptrend target is 14,372 while second uptrend target is the previous support turned resistance of 14,625.

FCPO

We had covered FM70, lets analyze the last market: FCPO. As written in our last week's analysis, FCPO starting to find bottom. 

In the coming weeks, we could potentially see FCPO to have massive upward movement once price can break 2,064 level. This level have been tested 3 times for the past few weeks and every time price failed to closed above. If FCPO can close above this level, we then could see prices rally towards 1st uptrend target of 2,100. The second uptrend target is 2,145. There is no such thing as a 100% accurate trade, hence traders need set cut loss orders to limit potential losses. 

This because if buyers failed us and price retrace below 2,000 level, then FCPO would likely to resume it's downtrend and retest 1,940 again. The second downtrend target is 1,900. 

Alright, that wraps up this week's analysis. I hope my basic analysis can give you a clear picture. If you would like to receive more in-depth daily analysis, feel open a futures trading account my guidance.

Trade well my friends! 

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