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CC 1875 - 1775 Bounce (Dibbs)

http://www.coffeetradersforum.org/cgi-bin/bbs62x/webbbs_config.pl/page/1/md/read/id/55984

Hi Dibbs !
Well I whould stay out from CC right now not expecting much upside , however near the 1875 or / and 1775 for better timing, Cocoa is hard to play on momentum as it moves choppy from day to day.
This makes it hard to read the charts, market is well supplied, the idea with a bounce play is only to come out of the trade at low profit and in the unlikely event of a bigger move stay in the position from a good startingpoint.

It may be a good idea to look at Platinum or Silver as a stronger seasonality play untill mid Feb 2018 certanly if DX comes down lower, some signs of early closing books selling for Dowjones trading today.

Cocoa:
On the positive side:
Weak USD
Near support

Negative side:
Weak pricepattern - may be a bearish flag in the dailys
Seasonality mid dec is weak

GT//Joakim

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CC 1875 - 1775 Bounce (Dibbs)
Re: CC 1875 - 1775 Bounce (Dibbs)