FullTimeTrader
Long

COFFEE-deep pullback offers a great R/R opportunity

ICEUSA:KC1!   Coffee
457 5 8
Hello, according to previous analysis we have a big shark on W1 chart:
COFFE-big bullish shark


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.
bobwff33
a year ago
Short USDBRL

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
Reply
FullTimeTrader bobwff33
a year ago
Hello, thanks for comments. My bias is also short on USDBRL. Regards.
Reply
Looks very good.
Reply
FullTimeTrader IvanLabrie
a year ago
The weather also could help, the impact of el nino is just starting.
http://edition.cnn.com/2015/08/13/weather/el-nino-2015/
Reply
bobwff33 FullTimeTrader
a year ago
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.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out