KC1! trade ideas
COFFEE FUTURES - Wake up and smell the coffeeCOFFEE holded the support area of ~109.20-109.50 and made a pullback breaking the trendline (marked green on chart).
However the bulls seem to be sleepy so I believe the trend continues to be bearish and we have to monitor how price will react to make our decision.
Personally I'm considering a short position around the area marked on the chart.
Potential profit to blue line which is the next support area.
So as mentioned on the chart we monitor price and have our finger on the trigger.
Good luck traders.
Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become better at trading commodities.
ClosedClosed all my shorts today. Easy money. Right now, I am starting to build my long portfolio and let’s see what goes next. Will add more at 100 and 90 level.
The decline is not done yet. ExplainedCoffee reached our target at 120. However, there is still no signal the decline is done and we want to follow the trend. The support is broken and it makes me believe there is a big chance we can see a retest of important support/resistance near 104. So, if you still hold your shorts, consider adding trailing stops and let the good time roll.
Do you like coffee?Bullish structure in the process, need a lower low to complete the wave C of a flat.
Good luck!
Trend change is coming. Potential entries and targetsThe COT report is bearish, the seasonal tendency is to the downside. We have a divergence in the 4h chart. So, where do we sell? I think breaking below Thursday's low or formation of lower high would be good entries. 120 has been an important level for Coffee. It has to be tested again and it is our swing target.
KCCoffee in my opinion. Touching the resistance line from 2011, and I don't think it's possible for coffee to break out. TP 120(MA50), but I would recommend 110 for a more aggressive trading approach.
Another round of coffee cycleCoffee futures looks bullish.
Falling wedge breakout target $275-$294
NOT FINANCIAL ADVICE
Drink Coffee and make money from the market Can Coffee commodities help us to predict the stock market ?
I don't know and this is based on my personal observation and not historical facts, so take it with a pinch of salt. Look at the Coffee chart carefully! It starts to reach the peak in Dec 2019 when it was at a high of 142. Two months later on 18 Feb 20, the SPX500 followed.
Go google yourself and you would find a ton of media news and gurus convincing the reasons why. That is why I said reading news are more for entertainment as it leaves me nothing but more question marks in my head.
Coffee finally soften its selling pressure when it went to a low of 94.75 for 2.5 months before it rebounded. Last week on 10 Aug 20, it finally broke out of the bearish trend line and look set to continue the bullish trend.
However, it looks like the SPX500 has rebounded much faster than Coffee.
Are you willing to bet on your cup of coffee that it will go higher from here while watching the stock market ?
I leave the choice to you. Do consider your portfolio allocation to commodities, capital management, position sizing, stop loss and risk management.
Trade safely
COFFEE Will Rise Next Days ! COFFEE Will Rise Next Days
I Advais You To Buy
The Target : 146 . 70 USD
StoopLoss : 127 . 10 USD
Coffee futures (KC1!) - stay bearish Coffee futures (KC1!) has completed W & X wave and now going down in Y wave, which will unfold in ABC. A is in progress, so sell near 120.50 - 121.50 with stops above 123.95 for down cycle and target zone is near 106 as ABC finishes.
