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...
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.
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)
-...
Weekly chart, SUGAR commodity has broken down support line # 2, and is heading towards #1 at around 17.12
Below that, the next target price will be 10.67
Another scenario is to rebound from Support # 1 towards 21 then 23
MACD indicator went negative, while RSI is getting into the buy area
I thought this one was pretty straightforward. Coffee looks PHENOMENAL for a long
Sugar looks yucky after the huge run-up and is a shortable soft commodity hedge
This stuff isn't that complicated. Supply issues get resolved in Sugar as they do in most commodities. Tbf I think Sugar is exhausted, I don't know if it will go down that much but I don't think...
For those who are still in this trade and you ´ve been patient, you could benefit from it. Big short move, surprisingly got us where we would like to be.
Based on price action, sentiment and several indicators, a good SHORT opportunity is building here.
Sugar is in its 5th wave. ABC correction afterwards.
NFA.
COCOA is overpriced due to fundaments over the world. A slight correction would be welcomed. We might return back to the trend pattern. What's your opinion about this kind of charts ?
Be careful, commodities are volatile !
