CC2! Cocoa on the same support hit on 2008 and not broken since. The next days will be decisive to see if a big move will be made.
Cocoa has hit levels which has previously proven to be support levels in 2011/12 and again in 2013. I believe that this may be the turning point for the cocoa price, after a rough 2016 with a 32% decline. If the support level is broken, though, it's probably wiser to open a short position. What's interesting is that the short interest in cocoa is very high, and...
At least in the monthly, cocoa looks to drop even more. Potential bounce up to the yellow A/R line, then continue down. P!
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 chart has been not easy to create, both because it does not show data below D1 and I was interested in H4, and because the price vary from my broker. Anyway... #Cocoa (US futures Mar 2017) is close to a support in its retracement and might just go back again to keep its bearish trend going. Actually, on my broker the current bar (with no shadow) is exactly...
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
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
Truly a great trading construction. As a minimum I am expecting a risk/reward of 1-1.35. Also, keep in mind my stop is extremely wide. This is a very high probability set-up.
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).
COCOA is in a corrective phase on weekly chart. I'm expecting one more wave down to previous lows or near the rising trendline before a strong wave up. Good possibilities to make higher highs. A strong breakout on rising trendline invalidates this setup.
Nice RR ratio, get inside the train when he wait for you :)
Pro Long: - Trend line provided massive support (dark red line) - High volume at support and during the rally - future spreads very strong (N16-U16 turned into backwardation) - If we close positive today 7 MA will cross 20 MA generating buy signal Contra Long: - running into resistance on middle Bollinger Band (20 day MA) I sold the 2900 puts last week as a...
Buy signal on RSI and Stochastik accompanied with a ascending support line provides good entry point for a long position. via Short puts or short put spread out in Sep16 delivery month. Expect sideways action then upside targets would be 9 day MA around 3000 and 20 day MA at 3100 (both sloping down, so expect more sideways before a rise
Chart with MedianLine, testing TradingView ML tool. Idea from stocktwits.com
Cocoa is moving, I'm anticipating a bull run soon.
I have been neutral on CC for the past few weeks, but something is brewing. I favor a break towards the upside for following reasons IMHO: 1. Support area; failed to break to downside; 2. Broke out of downtrend. 3. Future spreads went back in backwardation 4. Buy signals on RSI and Stochastik 5. Bollinger Bands are very tight
On the Daily chart of Cocoa, blue wave A seems to be completed, because of a sharp reversal to the upside into blue wave B. That said the pull-back in blue wave B may reach the fibo. level of 50% or 61.8% of previous blue wave A, before turning to the downside into blue wave C. www.ew-forecast.com
Cocoa has been trading bullish since April 2015. It has already made five waves up. Now we are tracking Blue wave A, that may unfold in upcoming days. That said blue wave A may reverse around 61.8% fib. level. After wave A is completed, Cocoa may face a correction in blue wave B. www.ew-forecast.com