While I was surfing the web last week, I saw a post “An idiot with a plan can beat a genius without a plan”. It was funny and made me remember back when I first starting writing analysis in Facebook, on my blog, PDFs. Many people were laughing at me for doing PLAN A and PLAN B for trading. Some even said a good trader doesn’t do that. You do 2 plans because you don’t know what you are doing. 

Well fast forward to today, I am grateful that I still applying the PLAN A PLAN B process of trading. It had helped me made money all these years. So if you are keen, I highly encourage you to apply this PLAN A PLAN B process. 

Emini S&P 500. 

Plan A, prices could potentially resume it’s uptrend when buyers able to manage a close above 2,821. This is a very important resistance that must be cleared if we were to go bullish on the market. If you look back, this 2,821 level acted as a strong selling pressure that capped 3 previous rallies at the end of last year. If the buyers able to break this level, we could then potentially prices went and retest 2,880 level. The next level after that will be the historical high of 2,947. 

What if PLAN A didn’t happens? Well that means market could potentially go down. That calls for a plan B. We determined the market will have a downtrend once sellers forced a close below 2,720. If this scenario happens, we could see the market being exposed to the 2,661 or even 2,598 support levels. 

WTI Crude Oil.

Recently the market created these structures, higher swings highs and higher swing lows. From the market structures we conclude that the market is in an uptrend mode. So as long as prices able to sustain above $58, there’s room for further upside. First uptrend target is $63.8 previous structure support. If buyers are still strong, we then can aim for $68. 

However this uptrend is ended and the market will reverse to a downtrend, which is Plan B, when crude oil is trading below $54.8. Prices then could exposed to selling pressure and potentially tumble down to either $51.2 or even $49.15. 

Soybean Oil

Last week I mentioned that if prices below the $29.50 level, the momentum favors the sellers. And consequently prices fell down throughout last week. So going forward PLAN B, prices will resume its downtrend if sellers break thru this $28.50. If the sellers get the job done, we could likely see prices hit either $28.16 previous structure low or even $27.58 structure low.

Now, what if plan B didnt happen? That calls for PLAN A. A close above $29.50 will generate the buying momentum. We could see soybean oil went up to $30 structure or the $30.60 structure. These are the levels you keep an eye if you are on the buy side. 

FKLI

On monday the market formed a doji at 1,645. A doji means the market is undecisive, it could either go up or go down later. And in this situation calls for the PLAN A PLAN B method. PLAN A, you can look for buying opportunities when market close above 1,664. When this happen, we could see prices potentially retest first uptrend target of 1,688. The second uptrend target is 1,706. 

For Plan B is this: a close below 1,640 could expose FKLI to selling pressure. We then could see prices fell towards towards 1,632. The next target after that is the 1,621 level, last seen during 2017.  

FCPO

It pretty straight forward. FCPO could potentially have an uptrend only when prices close above 2,155. When that happens we can look for buying opportunities. This because we could see prices rally towards the 2,217 level. The second level after that is the 2,278 structure high. 

If the market didnt go up, don’t worry, we will be equipped with PLAN B, which is a close below 2,137. When the market triggered PLAN B, we could see prices went down towards 2,092. The second downtrend target will be the obvious structure low of 2,040. 

Alright that wraps up our market outlook. Remember: an idiot with a plan can beat a genius with no plan. So give this PLAN A PLAN B method a try. It will help you objectively trade the market. Talk soon my friends.

Let’s work together

That concludes this week market analysis. Hope you guys can benefits from it. If you like to trade local or foreign futures under me and my team’s guidance, feel free to reach out to us here (Click here). We are looking forward to work together with you. Have a nice days.

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