Long

Updated

JO: Gigantic double bottom in Coffee

This can be a long term bottom for Coffee. I will be entering longs on Monday.
The monthly chart indicates this could be a gigantic double bottom at play.
CoT data is interesting, with large speculators going flat...
I expect the low printed here to hold, if we break this week's high it'll trigger a rally.

Good luck,

Ivan Labrie.

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Good progress here.

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No idea why the chart background is red, but hey, it looks quite strong.

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Acting well, I moved my stop closer to the action here, and adding gradually for a few more days.

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The weekly sellers have lost steam, daily charts looks like an impending rally is coiling for now.

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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.