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KC1! trade ideas

Get me a coffee: strong and blackI'm eyeing up a long entry on coffee. I'll look at trading this through the 3CFL ETF. If the trade goes as envisaged and hits my wave 3 target, it could yield 100% profit thanks to the leveraged ETF. Disclaimer: This is not financial advice. Do not follow my trades. Do your own analysis, make your own trading plans. I am not an Elliot Wave analyst and only use the tool to map out a general idea of how price may move. Constructive comments are welcomed and encouraged. So why am I taking this trade? The recent move up from the late September low looks pretty impulsive and price is currently printing what looks to me like a bull flag; As price has been falling throughout this year, volume has started to swell, giving clear bullish divergence More recently, in the July to September period of this year, the swelling volume could be considered stopping volume Price has bounced off the $96 dollar level (12 year low) a level which has previously been a springboard. Monthly / Daily RSI and stochastic RSI look bullish Why am I targeting $148 by end of year? Historical resistance level Confluence with specific, modest fib extension level Use of fib time tool to project key dates for pivots Any reasons to be cautious? Weekly RSI and stochastic RSI look bearish Price could possibly make a W bottom and even make a lower low, with strong bullish divergence on stoch RSI / RSI - which would provide another good entry for a long. Stop loss? Subject to the opening price on the ETF tomorrow, I'll consider placing a tight stop around the $110 mark.
ICEUS:KC1!Long
by matt8932
2
Good time to buy Coffee!Hi guys, It looks like a good time to get into Coffee. The CFTC report (refer to barcharts.com) shows the dealers and commercials are extremely net long and control most of the open interest. We are overbought at the moment and need to see a pullback where we want to be buyers. I'm expecting price to come back to this support zone - if not I may take a break out style trade as price goes higher. I have set a series of action and reaction lines from our channel down and an upsloping pitchfork - my target is the next warning line. Lets see how this unfolds.
ICEUS:KC1!Long
by Tuhi_Capital
'BUY' AND STOCK UP ON COFFEE, WATCH IT GROW FOR YEARS TO COME!Thought i would not find a market more promising for the future than platinum but i've been proven otherwise. Coffee is lower than it has ever been in it's life cycle and can only imagine this is the end of downtrend and may form a wick around 1.0100 where expected to bottom out and start headed upwards. Do not miss out on a great buying up opportunity and watch your investment grow in years to come. I bought in with a relatively small buy and watching market closely waiting for trend reversal confirmation before adding a larger buy. I suggest working on the monthly view (1M) timeframe, using the MACD, Stoch RSI and CM_Ultimate_MA__MTF_V2 (combo of multiple indicators created by someone and accessible if you have pro account on tradingview). Do set stop losses but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident traders. All comments and questions welcome, if curious about indicators I use then feel free to inquire.
NYMEX:KT1!Long
by Dani0
1