This is where I lose all my Xmas present funds... and my house ... and the money i stole from my parents. There may be tears ... and no chocolate for the kids
I rarely publish these longterm ideas but here i am pointing out the current wave 4 on a weekly chart. So in the long run we will be short the CC1! but since we are currently in a wave 4 we will be looking for long positions. For a starter position i placed a long entry @2000, next @1975, @1935 and finally @1900 Soft targets start @2290,@2610 and very distant...
Similar to oil, the price of cocoa 3.18% is due for a recovery in terms of gold. Long term trajectory is likely downward once price hits my red region level.
Demand has been established at the blue diagonal for decades. Everytime price hit that level of equilibrium we've seen a massive reversal. We're once again at the level of extreme reversal. Better get on this...
Long term looks very bearish - Supportive trend line (green) from started in 2002... broke down last year - H&S pattern set up - H&S neckline touched up but 1870 not taken out yet Looking at potential pull back to broken trend line (green), up into 3000
This is only a trading capability - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... .zip (with PDF`s) @ my Google Drive 4XSetUps for next wee - friday close (32 Commodities) drive.google.com Best regards :) Aaron
This is only a trading capability - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... .zip (with PDF`s) @ my Google Drive In percents away from all-time high & low by last close (32 Commodities) drive.google.com Best regards :) Aaron
2337 the magic number.. Looking to short before that gets taken out
Take care & analyzed it again - it`s always your decision ... (for a bigger picture zoom the chart) This is only a trading capability - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... 44 COMMODITIES (2016 Yearly Performance) from Chicago, New York & London @ drive.google.com Best regards Aaron
Heading into long term support (green). Model predicts a rally up into 3,000 before we sink and take out long term support.
Long term play risking last years low.
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).