Cocoa topping

ICEUSA:CC1!   Cocoa
Seems cocoa             is finding a way lower. On the monthly I see too much pressure building. Path of least resistance is likely to the downside at this point. I prefer to get in a bit early than wait for the pennant to break to the downside (if it does).
Trade active: Entry @ 3000
Comment: Crack. See ya
Comment: If you're lucky you still might be able to short at 2750. The beauty is your r/r would still be attractive because any break above 2850 would qualify this is a fake out to the downside.

Probability continues to be to the downside on this one. Far lower.

Trade closed: target reached: Holding short
Great trade fella
+1 Reply
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