FCPO 2 March 2023 : JAC and LPS or UTAD?

2 Mar 2023

Yesterday price reject btm channel and broke up DTL + EMA50 and sustained above it. This schematic might be JAC. = Uptrend

Today expectation :
1. Let's monitor the 4242 resistance level. If the price sustains above this level, consider it as LPS.
2. If supply is coming in and bringing back down into the range, possible UTAD formation for distribution.

5min view :
1. Market structure: Sideway bias uptrend
2. Price to EMA = Price cross EMA up and down = Sideway
3. EMA12 to EMA50 = No clear direction yet = Sideway
4. MACD = no divergence formation.

Trading Plan :
1. Wait for the price to break immediate resistance and support level.

2 Mar 2023

Not

Entry when price test EMA12 1min

2 Mar 2023

Not

Price reject mid channel.
Bias still uptrend unless break the market structure

2 Mar 2023

Not

Accumulation/distribution in 1min TF

2 Mar 2023

Not

Price just test EMA200 daily

2 Mar 2023

Not

Spring confirm so far.. less risk to enter long.. if price break the lowest spring candle.. can look for short

2 Mar 2023

Not

5min confirmation bull candle

2 Mar 2023

Not

wow