Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
A big old Weekly chart, corkscrewing tightly into the nose cone. Right now, this instant, Nagual's weekly and daily cycle lows may coincide. Wednesday, a new contract low was eked out by a smidgen. And then reversed. Those that saw it happen in real time on minute time scales witnessed the dainty impish pulsations of coffee's restful character. A breakout resolution of this wedge will show its wild side, the gap at $1.80 highlighted as an ultimate objective.
Testimony as to the eerie silence before the storm, hours went by without so much as a peep on both major coffee forums. Am I correct that a new contract low was scored? Not even worthy of comment. Forum participation has fallen to a nadir, with contributors even declaring their abrupt departure with incoherent rants. And one, even committing suicide, the final stop loss. More frequent discussion of other commodities peppers the airwaves, as if there is anything more important than coffee! Bottoms are made by indifference, a perception that currently reeks. Am long 3 July futures bought Wednesday, averaging $1.18.50. Mark Nucera, I'm carrying an extra one for you, Dude. Sure, sure... One is supposed to wait for the wedge to actually break before initiating trade. Oh well, let's get it on, shall we?
Lest I forget. See that outlier, red weekly candle pinbar that pokes outside the bottom of the wedge pattern. Seems to me that it interestingly splits the entire fandango in half, kind of like a symmetrical skewer. All the more suggesting something in the making any time now. I mean, come on! Coffee has been hit with the proverbial kitchen sink by the imposition of cancer warning label ludicrousy. The world is mad.