FCPO 22 Sept 2021 : Trade Shooting Star
1. Yesterday have a false breakout and price consolidation for a while. As usual, the false breakout will produce a higher magnitude of movement.
2. Today price breaks 2 resistance levels.
3. Now price rejects resistance level + Gann level with shooting star CS @ 5min TF.
4. 15min TF has a spinning top black CS pattern.
5. Since the trend now is bullish, selling is only for intermediate conditions. Depend on how the price reacts to EMA14+EMA50 at 15min TF.
Other concern :
1. China Evergande issue might contribution a significant effect on the world economy.
2. China is our 2nd largest Palm oil export destination behind India.
3. Remember when Lehman Brothers collapse in 2008.
2. Today price breaks 2 resistance levels.
3. Now price rejects resistance level + Gann level with shooting star CS @ 5min TF.
4. 15min TF has a spinning top black CS pattern.
5. Since the trend now is bullish, selling is only for intermediate conditions. Depend on how the price reacts to EMA14+EMA50 at 15min TF.
Other concern :
1. China Evergande issue might contribution a significant effect on the world economy.
2. China is our 2nd largest Palm oil export destination behind India.
3. Remember when Lehman Brothers collapse in 2008.
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