Cocoa: Did the overbought breakout hold? Yes! Lookout!

This video includes an analysis of Cocoa and a revisit of the trade set-up that I had created as the breakout moved into overbought levels. Since then, prices have rallied more than five percent in a single day to five month highs on floods in the Ivory Coast, coupled with the El Nino effect that threatens West African supplies, with record short positions creating a short covering rally in addition to that. This video gives an update of Cocoa, in which I will take you through how things have changed, whether the set-up still stands and how I intend to trade this from hereon. In this video, you can expect an analysis of the structural supply situation, the position information behind this move and what I am looking out for on the next pullback. This video will be both interesting if you trade commodities or even learn technical analysis and risk management.