COFFEE-deep pullback offers a great R/R opportunity

ICEUSA:KC1!   Coffee
459 5 8
Hello, according to previous analysis we have a big shark on W1 chart:

Price reacted nice to that level and the first impulse leg appeared to be finished.
Price made a deep pullback for wave 2 and now is ready to start a rally. I like this setup because the risk is very low compared with the potential reward.

We have also:
- Trendline support
- 1.61 fib extension.
SL and targets shown on chart.
A good opportunity with low risk.
Happy weekend.
Looks very good.
FullTimeTrader IvanLabrie
The weather also could help, the impact of el nino is just starting.
bobwff33 FullTimeTrader
Thanks for sharing the lweather analysis.I was just being curious that a strong typhoon just went across east of China,which is very uncommon in late Oct.

I could not agree more,I 've already set up at 117 this time ,and I think there's a great relativity between the rally of COFFEE and the fallen of USDBRL
Hello, thanks for comments. My bias is also short on USDBRL. Regards.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out