Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Momentum rules. No need for me to out think the unthinkable gold market.
-Open interest liquidated
-Seasonal bottom between mid -October & mid- November
-90 minute false breakdown
-90 minute volume spike
-90 minute divergence
-90 minute key reversal
-90 minute MA crossover
-90 minute key reversal complete at 1,292, up $17
-50% retracement from the recent near double top at $1,360 takes us back to 1,310, up $35
-Unfilled gap in December contract at 1,345, up $75
-50% retracement of the long bear market at $1,450, up $175
-Daily stochastics turned up 10/7
-Big volume for two months
-RSI uptrend line on weekly & monthly held
-Head & shoulders formation on monthly
You can make up your own mind about N. Korea & other geopolitical shocks.
You are also right about the gold option volatility. When one owns them, awareness is easy.