COCOA LONG MONDAY 05/08 (2)
Updated
Just the update of our precedent idea.
The blue path seems to be more realistic than the green one, not sure if it will stay in between our yellow security margin.
But the sure thing is :
the gap will be closed, launching the price towards at leats 8200/300.
The blue path seems to be more realistic than the green one, not sure if it will stay in between our yellow security margin.
But the sure thing is :
the gap will be closed, launching the price towards at leats 8200/300.
Trade closed manually
For those who went in now's the time for difficulty, we had a very rough time understanding why the price went so low for so long instead of going up.
Everyone should close their position now, it's very uncertain for the next 4 hours.
Note
A further analysis will be posted in a few hours about our error this morning, all the team is extremely sorry for this wrong move.Note
So the conclusion is here :
In all honesty we did not predict at all such a huge fall at the beginning, this is the very difficulty of this asset : we manage to know how it moves, however until when and to what extent is another issue.
But the last 4 hours were way better, our target was dragged down by this first fall, putting the whole pattern 200/300 pts down.
Hope you enjoyed it, see you tomorrow for our next signal.
EDL FINANCE
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.