Coffee is stalling $ 242-$250
The candle stick pattern seems to suggest we are going to to correct downwards coming days. We may see $ 225 > $ 200 as ultimately the objective.
Strategy is SELL current $ 243-245 for objective $ 205 profit area.
Traders, Coffee like other commodities has been on a huge run this year. But now it has reached a point of pause, correction and possibly reversal too. So coffee futures can fall down from the FCP zone. Wait for a confirmation as the market has been trending hard upwards.
Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on...
Hi Folks:
A fellow trader asked my advise on Coffee, so I am sharing my view on this commodity.
Ascending channel, resistance broken, all seems to be sending prices to previous highs,
No positions opened, just sharing possible scenario on this pair without knowing much of the fundamentals...
The question is when will prices starts peaking.
Judging the cyclical time line and DPO the previous peak happened 77 bars before the peak from the beginning of the cyclical time line. This means around 20 December 2021 Coffee will peak.
Sell $ 240 $ 260 for move back to $ 180-190.
Coffee is medium-term very overdone, and market starts looking tired.
Patterns are providing support to see a decline coming week back towards $ 220 - $ 198
Strategy sell between $ 248 - $ 240 and profit order $ 202.00
Coffee has started it's descending now, and the key is below 230.00 for further encouragement.
The stochastic are negative now for daily and weekly (the weekly has bearish engulfing pattern).
Strategy sell between $ 240-245 or add to positions for a move to $ 195. Stop-loss $ 252 above Gann resistance.
shorting coffee after bull runs worked out in the past if there was a clead double top
expecting a 5-15% correction ...
trailing stop above prior days high...
the medium-term picture of coffee is to correct over time. we should be seeing 200.00 levels again.
The current price $ 245 is above the BB and the RSI is way higher than the past corrections observed.
Strategy is to sell in small increments, and stop-loss (perhaps not needed due to the high level of RSI).
manage the position carefully, and take back positions...
Coffee futures are trading in the high Donchian top.
the Weekly RSI is quite high as well, and judging historical performance, it is quite likely we should see a correction coming up coming weeks.
Strategy SELL $ 230.00 and take profit around $ 180.00
another low risk entry for coffee long above prior day high on an uptrend (above 18 moving average)
stop is at prior days opening price, so risking 4.5 points in order to archive 21 points is a about a 4.6 R trade...
If prices makes a new 100 days high its time to set a trailing stop at the low of the lowest low of the prior two days.
This strategy is on all futures instruments except the stock market indicies better than simply waiting for the price to close below 18 moving average...
ICEUS:KC1!
I learned a handy tool used to manage risk under certain circumstances - the Three Day Trailing Stop Rule (3DTSR)
In this example, I actually fade the 3DTSR, but being able to execute different styles of trading strategies reflects an understanding of them, while acknowledging that no system or strategy used in markets will be perfect.
Three Day...
Hello my beauties.
The chart of coffee suggests a violent bullish breakout of a multi-year downward trendline. The price will probably continue its uptrend, but it is now signalling the beginning of a phase of re-accumulation; the price has reacted strongly with a sudden move to the downside that has stunned the price sideways. I will wait for further...
B ullish clues:
- General uptrend since October 2019
- Symmetrical triangle , and coffee price just perfectly rebound on the symmetrical triangle's support and the 50 EMA
- Bullish Harami on the support
- Hidden Bullish Divergence on the Relative Strength Index ( RSI )
- 50 Exponential Moving Average act as a support
Fundamental news: (from...
ICEUS