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Elite_Forex
Mar 19, 2024 11:20 AM

COCOA about to crash Short

Cocoa Cash ContractPepperstone

Description

Not much of a technical analysis as we can see but there is not much we can do about it. The chart is just parabolic due to the high amount of big companies hedging against the worse-than-expected harvest. The fundamental analysis could not be much of a help either because nothing can resonate with such pricing for the cocoa. This type of trade is just speculative because it has a decent Risk-Reward.

Stops above the previous high
TP between 7,000-7,600$
Comments
Permaculture
lets see how price structure behaves at psych level and big boyz region.
practicalStork41554
great idea LOL
Ellzo111
nah
FiftyFiftyCapital
How is going your short?
Elite_Forex
@FiftyFiftyCapital closed for profit and reentered long. I expect next short at 10,000
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