Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Your generous time and compassionate interaction pulled me back from the "DEEP" last night and I am very grateful. For some blessed reason, you stepped out and engaged in a way that illuminated my darkness. Thank YOU!
As you requested a gap example, here is WHY coffee price dropped to exactly where it did today. Yup, it was BECAUSE OF A PRIOR GAP. In fact, it was the gap that kicked off this move higher. I recall it very well, because on the intradays after the gap formed, it kept getting filled REPEATEDLY, as if it was so sweet that the price bee kept coming back for more and more nectar! It was very vivid to me at the time when I followed price every tick. And last night, the thought ran through my mind that price just might want to revisit that vacuum gap window again, just for old time's sake. Just one more last kiss of the magnetic Blarney Stone before embarking on the long journey North. I even used that same gap as a "trendline point" example in a post. And BusyBee took that same graph and put a triangular cycle image on it, simply delightful! Well, here is the graph showing the gap and how it shines its purple (Prince!) projection in time to the right, into the future. And just look where big old coffee fat red price candle plopped itself today?!? This has a good chance of being a downthrow correction that has completed itself. I sure hope so, because I am long from the beginning, having ridden it up and never let go. Still holding onto what was once a hot air ballon, turned into an anchor now that is falling to the bottom of the Coffee Sea!