CJ1! trade ideas
US Cocoa futures ( CC1!) - Stay long for 5th wave up US Cocoa futures ( CC1!) is in ABC zigzag (or might be impulse), where C wave is in progress and extending the gain. It is in 4th wave correction, which probably ends within the zone of 2375-2425, so go long in that zone after confirming the 4th wave finished,for target of 2525 or higher as 5th wave of C wave.
cocoa gives us a 95% winning signal if we buy nowhello friends here I am again this time with the cocoa market of which my country Côte d'Ivoire is the world's largest producer. As you can see, my analyzes are simple but very effective analyzes; because for me a good graphic analysis is an analysis that even the novice is able to understand. I conclude by saying that the cocoa must be bought by what we have a 95% winning signal if we buy the cocoa now
Cocoa likes to bottom in these areasI found two previous cases when the cocoa bottomed here on 2100. Seasonality would support growth in these times. Both 5y and 15y stacked averages do stay that growing is possible. Cocoa has dropped beyond what is usual and I am betting on this support I found. SL on 2078, TP unspecified. Good luck.
C1 Analysis of fibonacci now we're in a bounce of 423.6(I need to run his account with a 30% stake.)
Cocoa future in uptrend since June 18.The market has faced an important downtrend from Mid February till end of March. Corona crisis was one of the major reasons. After the market moved in trading range. Since June 18. the market has been moving in a clear uptrend.
Cocoa on all-important round level - retesting just nowI opened a position on Cocoa. 5year and 15year stacked seasonality favour long right now. Not significantly, but they do. This being said, it is an excellent outlook from a technical perspective. The price slows down as it approaches supsistence tested throughout the years from both sides. It has even worked recently. That time, it was resistance, now I hope it will act as support.
►It slows down as it approaches an important level
The important level is strong. Not only that it was tested multiple times but it is also a round number which are more often than not the ones that host the most fights between bulls and bears.
►The level is tested multiple times and is also a round number of 2400
And then, there is already once broken anchored VWAP from above. The one from bottom worked just weeks ago.
►Stacked seasonality 5y and 15y support long to a certain degree
►VWAP from the top is losing respect
◄The only contrarian point is 200 simple average which holds strong. But the price is approaching and bounces are getting smaller. Accumulation below this level usually signifies imminent breakout.
