Good news! We have blown away our primary objective of $3,250 as Cocoa moves even further to $3,296. This significant increase proves that macro-level supply constraints are just too much for normal technical barriers. In today’s video, I will explain why the Hormuz scenario is driving the prices sky high and show you how we are wisely handling our profits in our remaining runner positions.
In this video, we will talk about:
Target Reached: A summary of how we made the trade, starting from the initial breakout of $3,074.
RSI Indicator: Why we are holding off, despite the overbought conditions indicated by an RSI reading of 78.62. (Guess what? We’re not selling yet!)
Managing Profits: We are adjusting our protective barrier to $3,075. This means more profit!
Next Significant Price Level: Plotting the way to $3,600 and highlighting another significant price level for Cocoa.
In this video, we will talk about:
Target Reached: A summary of how we made the trade, starting from the initial breakout of $3,074.
RSI Indicator: Why we are holding off, despite the overbought conditions indicated by an RSI reading of 78.62. (Guess what? We’re not selling yet!)
Managing Profits: We are adjusting our protective barrier to $3,075. This means more profit!
Next Significant Price Level: Plotting the way to $3,600 and highlighting another significant price level for Cocoa.
Join PrimeXBT via the link below: go.appxbt.link/my6s/vf8j1cp5
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join PrimeXBT via the link below: go.appxbt.link/my6s/vf8j1cp5
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.