FCPO 8 Feb 2023 : Upside / Sideway
Yesterday's price made an upward movement followed by a sideway which looks like a distribution pattern after breaking the channel.
Today if the price sustains above the 3988 area, there is a chance of upward movement.
5min view later will update
Today if the price sustains above the 3988 area, there is a chance of upward movement.
5min view later will update
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5min shows price not sustain above the levelEMA12 still above EMA50 indicates an uptrend movement, however, if the price crosses EMA12 and EMA50, there is a chance of a sideway and downward trend.
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Price cross EMA12 & EMA50 indicate sideway/downtrend.Price back into the trading range.
Possible downtrend movement if break below
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Price trade in Sideway direction.Base on fibo, expect price to trade from 236 to 786
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EMA12 crosses below EMA50 = downtrend.Confirmation when price close lower than previous support and sustain
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Price break immediate resistance.Price reject EMA10+EMA50
EMA12 crosses up EMA50
Target 25tick upside to 786 fibo level
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As expected.. sideway trade.But now price form uptrend channel..
wait price to test lower channel to entry buy again
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Price test previous resistance.Uptrend channel tested
Evening star candle pattern = bearish. But not confirm until break lower 3976
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