Trend Following Malaysia Issue #31: 20th to 24th October Weekly Futures Market Outlook By David Lee [FKLI]
Last week’s FKLI again resumes its correction as Issue #30’s EMA8-13 shows the underlying trend is still “correction”. We expect the market to remain volatile this week and might have a technical rebound if prices can stay above 1,800 region. That being said, nobody can accurately predict the market and hence be prepared for any eventuality by having 2 trading plans below: Plan A: FKLI to have a technical rebound if prices stay above 1,800 1st resistance/rebound target is 1,822, while 2nd resistance/rebound target is 1,834 Plan B: FKLI resumes correction if EMA 8 below EMA 13 + prices below 1,790 1st support/ correction target is 1,780, 2nd support/correction target is 1,766
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Trend Following Malaysia [FCPO]
FCPO is entering into a critical phase and hence we have to pay close attention to 2,150 level and EMA 813. According to latest chart figures, we anticipate FCPO to start a correction next week shall prices unable to stay above 2,150 level. That being said, nobody can accurately predict the market hence it is better to be prepared for any eventually by observing the scenarios below: Plan A: FCPO start a rally if 8 EMA above 13 EMA + price above 2,150 1st resistance/ rally target is 2,200; 2nd resistance/ rally target is 2,250 Plan B: In contrasts, FCPO starts a correction if 8 EMA below 13 EMA + prices below 2,150 1st support/ correction target is 2,100; 2nd support/ correction target 2,050
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Trend Following Malaysia DISCLAIMER The opinions and information contained herein are based on available data believed to be reliable and for educational purposes only. It is not an offer or solicitation to buy or sell the securities covered by this outlook. No individual financial strategy or goals have been taken into account in the preparing of outlooks. Readers should seek independent advice from author for detailed analysis and strategies.
FOLLOW THE TREND FOLLOWERS Futures Trend Follower David Lee is a Trend Follower and contributor of futures market outlook for Trend Following Malaysia. He believes anyone can easily follow price trends IF they know how to see the big picture. Hence his mission is to introduce futures trend following strategies to the general public so traders can complement their existing strategies to trade differently compared to the rest. Email:
[email protected] Facebook: David Lee & Trend Following Malaysia Equity Trend Follower William Au is a full time trader in the KLSE stock market with 8 years of experience. He is the founder of Trend Following Malaysia. Trend following is an investment strategy that practices the art of holding power by following a stock’s trend. A company’s fundamental report may be good but when the price of the company’s stock is trend downwards, you know you are not doing well in your portfolio. Therefore a trend follower’s job is to identify a stock’s trend and practice holding power until a trend reversal. Email:
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