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CJ1! trade ideas

Cocoa Daily Chart. Cocoa testing rising wedge support (1). Further upside is possible for the short to medium term. However, it’s worth noting that ‘Smart Money Hedgers’ have established a multi-year short position on ‘Cocoa’ according to last week's COT report. And so a turn in direction could well be on the cards! A break below wedge support at (1) could be the first clue, a break below horizontal support at (2) would be where you could try a ‘short’ with a first target at 2588/93.
ICEUS:CC1!
by the_short_hustle
Cocoa: Double top eyed. ‘Smart money’ hedgers have proven themselves over time to have an excellent handle on assets once they have reached an extreme. For Cocoa, they are holding extreme ‘short’ positions last seen at the end of September 2014. From the first week of October 2014 through to January 2015 Cocoa depreciated by 30%. However, trying to ‘Time the markets’ using sentiment data on Smart Money Hedgers alone is tricky! They can hold extreme Long or Short positions for weeks before the asset in question reaches a turning point. From a technical standpoint, some would argue that a turning point is on the horizon, we are inside a bearish reversal rising wedge pattern, and up against resistance and a double top pattern is in play. However on the flip side of the bearish outlook, we need to keep in mind Cocoa broke out of its ascending channel during January this year and is now in a steep uptrend, not forgetting most chart patterns and indicators have approximately a 40% failure rate. For me, I’m more biased towards the bearish outcome, providing resistance holds and we convincingly break below rising wedge support. Only then I will look to enter a short position with the first target at rising trendline support (top side of ascending channel).
ICEUS:CC1!
by the_short_hustle
CCH2020-CCK2020 - Breakout on Cocoa SpreadCCH2020-CCK2020 There goes another one of our alerts in the commodity spreads. In this case it is an intramarket spread on cocoa. You buy the March futures (CCH2020) and sell the May futures (CCK2020) After a retracement phase within the seasonal window, the breakout of the Middle Valley level between the two highs took place, thus forming the classic "Double Top". The statistics of the past 15 years, together with the technical analysis, guide us in mentally positioning the Stop Loss, and in the platform the Take Profit. SELL LIMIT @-09.00 STOP LOSS @01.00 TAKE PROFIT @-39.00
ICEUS:CCH2020Short
by SwissTradingSchool
CCH2020-CCK2020 - Cocoa SpreadWe look as a first thing at the spread indicator which is a trend following indicator and suggests if the direction of the Cocoa spread is bearish or bullish. When the red line is above the green line the indicator is suggesting that the spread is bearish. We look at the seasonality indicator as well to receive a confirmation. The seasonality indicator is suggesting that the Cocoa market is 93% bearish. Because both indicators are bearish, in our opinion an opportunity is coming for traders that are considering to sell the spread CCH20-CCK2020. We look to our RS indicator to identify support and resistance levels. According to our strategy, the support and resistance can be used respectively to set our take profit and stop loss.
ICEUS:CC1!Short
by Season_Spread