Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Thanks Nagual and Tango.
After finally piecing 13280, the market traded up to the high, 13300 where the ICEBERG selling continued. After 101 contracts traded 13300, the market began to slip.
I did have a small trend-line, 13160 ballpark. We saw an initial wave lower but the market found initial support @ 13085. The next wave, was not so kind. Vicious sweep down to the current low of 12815.
The market has stabilized a bit. It seems to me that following a wave of stops, we got what appeared to be some type of liquidation in the area of 12880. 1600+ contracts have traded 12880-12885.
Once again, we are back in the box. As Nagual states, still consolidating. Intra-day :
FWIW, 1.381% of yesterdays TR is 12785. WE found support just a shade above that level.