Had an eye on this one for a while and there've been a few points I thought we might be making a high in this but so far taken no action on it (Which has proven wise).
Now we have a strong confluence of sell signals, though. We have the potential AB=CD topping patterns and this comes in at the 1.61 head fake level.
See strategy info here:
1.61 head fake is...
On Wednesday, April 24th, the bullish gap opening price indicated a strong bullish sentiment for #Cocoa. However, the price faced rejection at the 61.8% Fibonacci retracement level, which coincided with the previous week's bar high on April 8th, 2024. A strong bullish close above 12265 by the end of this week would signal the continuation of the bullish trend for #Cocoa.
Scalpers and Day traders should pay attention to the potential bullish trap setup on #COCOA 4HR chart. IMO: A strong daily bar close down would suggest more possible bearish retracement to the lower band of the rising channel.
Hello,
As of 2023 February 24 (Time of analysis), Friday current price of Coffee is USD 189. The price hit the bottom in January 2023 and prices have been recovering since then.
Though I do not fore see a sharp continuous rise in the prices of coffee. I am convinced that there are good opportunities for us to buy coffee once we see a correction forming.
USD 180...
Back in April 2021, I said sugar was sweet! It had a phenomenal run since. However, that has now come to an end. After breaking a rising wedge. Sugar bulls should use this recent pop to take profits and lock in the profits.
Let's talk about coffee because coffee lovers understand how important it is in daily life. In the business world, it's widely recognized that no meeting or deal is complete without at least one cup of coffee (or even more). ☕️
Now, let's focus on coffee futures. 📰
Technical analysis presents an interesting perspective for potential growth. The price is...
Cotton Futures
This trade once again I took after looking at the COT report and WASDA which reports on the grain and the meat market.A
In the COT report once again the markets were crowded from the non commercials and the commercials. WASDA was showing signs of weakening prices on cotton.
After a weekly engulfment I waited for price to pull back for a short entry.
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...
If you are interested to trade COCOA, which was in ATH few days ago, I´m suggesting to wait 5325 looks like a good entry level. BUT, please don´t use entry line as a trigger. Use REACTION on that line as a trigger. What does it mean? Price is going to fall there, most likely even below. When you see an aggressive close back ABOVE the entry line, enter and set SL....
COCOA has been in a consolidation pattern for multiple years now. Testing lower side of the pattern and upper side, now it's in a very confined range and the upper/lower resistance/support line are coming to agreement. It is trading above resistance now and this would make an ideal long-entry when buying the pullback on the now broken resistance line around...
AUD/JPY Long
• If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a subsequent impulse back up on the one hour chart followed by a tight two touch fifteen minute flag and then I'll filter the latter on the five minute chart and be looking to get long with either a risk entry within it if the...
Welcome to RiskMastery's Day Trader Series - Codes with short-term trading potential.
In this edition, we'll be looking at PEPPERSTONE:COFFEE ...
I believe this code is at a point of potential volatility.
If price can move to and hold below $178.34 ... Bearish potential may be unlocked.
My key downside targets include:
- $175.16 (Conservative)
-...
