March 2016

FCPO Show Reversal 30 March 2016

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Today, Malaysia Futures Crude Palm Oil make a down movement with opening price at RM2781.

Base on 1 hour timeframe chart, there was recognised candlestick pattern and frequently happen in Futures Commodity market. Yea, Evening Star has been formed and completed.

fcpo-30032016

So, how we can react base on this signal?

  1. We can sell immediately with stop out at 2 points above high
  2. Or wait for a while and participate on market pullback in the lower timeframe (15 minutes or 5 minutes)

My expectation is, market will bounce back at 272x and reach the Support became Resistance (SBR) level at 275x.

fcpo21032016-movement

Then, I will participate during market pullback at 275x and the target is about 270x.

How to enter the market? Up to everyone’s trading technique. For me, I will place my order on breakout movement.
Let wait and see. Let the market unfold first.

FaizhebatFCPO Show Reversal 30 March 2016
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Reversal Candlestick in Futures Commodities

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There is alot of reversal candlestick pattern if we talk about technical chart analysis. But, not all reversal candlestick frequently being used in futures commodity trading.

I try to memorize every single candlestick pattern. But in reality, in realtime market movement very hard to recognise which pattern will be form later.

For me, in futures commodity trading, I just focus on the following candlestick pattern:

Hammer

hammer

Chart courtesy by investing.com

Shooting Star

shootingstar

Chart courtesy by investing.com

Morning Star

morning-star

Chart courtesy by investing.com

Evening Star

evening-star

Chart courtesy by investing.com

But, please bear in mind that all the screenshot above was taken from the perfect condition, base on historical chart. During realtime market movement, we need to imagine one candlestick ahead to predict what kind of candlestick pattern will appear next.

FaizhebatReversal Candlestick in Futures Commodities
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