Coffee Traders' Forum - A Discussion about Coffee Futures Trading
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The first dip since the breakout topside. 45 minute expansion of the drift down, confluence of indications.
Looming question, "Is this the real thing?" And, if so, "How far down is the first dip?"
Presented here are my chicken scratchings suggesting possible completion of the pullback:
1. Obvious green headed hammer candle whose bottom end wick tip is
2. supported at an unorthodox classic 61.8% Fib
3. supported at the lowest rung of the least mean square channel
4. supported at an unorthodox Andrews Fork bottom rung
5. coincident in time with a cycle low series as pictured
6. displaying bullish divergence with stochastic momentum index
7. tiny green head of hammer peeks up above next higher rung on least mean square channel