Cocoa Futures
Short

Cocoa Short: Completed wave 2 (or B) rally

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I've previously publish an idea for Cocoa long because of ending diagonal. But it should be clear to an EWer that the down move was a 5-wave structure and thus the long idea was a wave 2 or B idea. Now that we have completed 3-waves up for Cocoa, I think it's time that Cocoa resumes it's down move again. The conservative target is set at the previous support, but I certainly expect it to move way below that target.

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