There’s something brewing in the charts here, and it’s not a hot cup of cocoa. We had a clear rejection at the 0.382 Fibonacci and potentially the start of a C leg in a corrective pattern.
This is lower high after the bull flag breakout pattern. If we lose support here we could break the neckline and confirm the head and shoulders pattern, which is very bearish.
There’s a lot of moving parts to consider here. If you follow my trades you will know I already anticipated this as I am long a stock that behaves in an inverse manner to cocoa.
Not financial advice, do what’s best for you
This is lower high after the bull flag breakout pattern. If we lose support here we could break the neckline and confirm the head and shoulders pattern, which is very bearish.
There’s a lot of moving parts to consider here. If you follow my trades you will know I already anticipated this as I am long a stock that behaves in an inverse manner to cocoa.
Not financial advice, do what’s best for you
Trade active
Short and chill
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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.
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.