There’s a potential buying opportunity in cocoa, as it has broken structure on the 4-hour chart and price retested the area. Buying pressure is visible. In considerration of all this factors, I am entering long at 7,900. This is intended as a swing trade and may last a few days. Favorable swap rates make this position profitable over time, and I recommend a small position size.
The target is set at 8,500. Follow me for updates on this idea.
The target is set at 8,500. Follow me for updates on this idea.
Trade active
Entered long at 7,900Trade closed: target reached
Take 80% of profit now at 8,350. Final at 8,500
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If you want to learn about trading, we have a telegram group. Join us here: t.me/+vT_3XCSL6uI1ZmU8
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.