COCOA LONG TO 8,500There’s a potential buying opportunity in cocoa, as it has broken structure on the 4-hour chart and price retested the area. Buying pressure is visible. In considerration of all this factors, I am entering long at 7,900. This is intended as a swing trade and may last a few days. Favorable swap rates
MY COCOA LONG IDEA 01/11/2024*Did not enter this trade yet*
Direction: Long
SL: 7425.4
Indicators:
1. MA (20,50,100,200)
2. Trendline - Algo
3. Support and Resistance
4. I also use MT5 - Tradingcentral tools
5. Fib
Time Frame: 4h (I also use other time frames mainly 1D because I like to trade for long period of time)
Technic
US Cocoa cash coiling US Cocoa cash has been coiling lower and more recently moving in a range 8,000-9,000. We bear and looking for a short below 8,000, stay tuned.
COCOACocoa potentially is making EW. So far it have made wave 1 and correction ,now it's potentially on wave 2. Immediate downtrend was broken- retested and price bounced to north. On daily chart price is staying in the symmetrical triangle. I would like to see on 4h.chart price sustained above ema200. C
fly baby flyCocoa is one of my favs as she use to more 1000 pips a day easy however been in massive consolidation last 3 months and at last she broke out yesterday and like text book retested the breakout straight away 9% up 9% down hope someone else caught it like me and now we should see her fly 30% to ATH an
Cocoa to new highs before New YearVery aggressive trade, I'm skeptical about the Interest rates lowering coming in next months, though it should have a positive effect not just on precious metals but also agrocommodities.
Chocolate Lovers Should Brace for a Possible Price IncreaseThe cocoa market is currently indicating a strong possibility of a price surge. A significant bullish breakout from the weekly pennant pattern in cocoa could attract speculators to place large bets, potentially driving the asset's price higher in continuation of the ongoing multi-year bull rally.
I
If sugar is cheaper, but cocoa is more expensive, will the pricUnlike sugar, I am looking for a long position in a weekly bullish engulfing pattern. PEPPERSTONE:COCOA
COCOA is in a downtrend nowCOCOA is in a downtrend now but I see opportunity that could go bull if all the stars are filled. Before taking in a trade, you must have your own confirmation.
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Displays a symbol's price movements over previous years to identify recurring trends.