Coffee
Starbucks Swing Starbucks sitting at my support zone at 83 could see a drop down to 73 if we break below 79. theres a gap down at 79.15 that we could fill within these next few weeks or we could just keep pushing during winter. With winter coming up i see SBUX going up to 95 by December. SBUX has been bullish during the past winter seasons and we could see the same for this year. Pumpkin spice lattes and more coming soon!
COFFEE FUTURES - Wake up and smell the coffeeCOFFEE holded the support area of ~109.20-109.50 and made a pullback breaking the trendline (marked green on chart).
However the bulls seem to be sleepy so I believe the trend continues to be bearish and we have to monitor how price will react to make our decision.
Personally I'm considering a short position around the area marked on the chart.
Potential profit to blue line which is the next support area.
So as mentioned on the chart we monitor price and have our finger on the trigger.
Good luck traders.
Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become better at trading commodities.
The decline is not done yet. ExplainedCoffee reached our target at 120. However, there is still no signal the decline is done and we want to follow the trend. The support is broken and it makes me believe there is a big chance we can see a retest of important support/resistance near 104. So, if you still hold your shorts, consider adding trailing stops and let the good time roll.
Trend change is coming. Potential entries and targetsThe COT report is bearish, the seasonal tendency is to the downside. We have a divergence in the 4h chart. So, where do we sell? I think breaking below Thursday's low or formation of lower high would be good entries. 120 has been an important level for Coffee. It has to be tested again and it is our swing target.
COFFEE - Short (again)I was stopped out on that last attempt but the technical picture is getting stronger! I have re-entered.
note: this is end of day data, that's why the profit/loss tool is in the particular place it is. Current price as I post this.
This is a scalp, a little less than 2:1 RR
I will most likely be out by that 50% Fib, my fav location. Quick to break even, quick to take profits, loads of Bullishness in this futures contract.
Happy Trading!
Copper Tesla Coffee8.13.20 I reviewed a few markets including copper, Tesla, coffee, and if you equity markets that I am no longer going to follow as I am cleaning up my watchlist. The discussion is mostly about trading dynamics and how to manage losing trades when it's likely they will give you a second chance to exit a trade.
Coffee price goes DOWN
Hi! In my point of view we saw a long side movement, than a breakout. The shooting star appeared in a daily chart and even the confirmation arrived with the next day candle. Even a weakly chart shows a shooting star. Normally since the big top price (289) the things have been changed. Aug and sept are negative months. Oct is the comeback. Even the Corona news getting worst which confirms the turnback. Regarding the rules, evry correction takes at least 3 candles but it can takes 3-6 weeks. So on Monday we will see a price around 115.5 than bouncing back around the 120 area than goes down until 102, maybe 98 than the 6.5 weeks period is over ( the actual month will be October as well) so a new Long will come again.
COFFEE - Short Scalp. I have been discussing this for over a month, the long anyways....price is starting to hit resistance. I think it will break but should retrace before doing so.
This is my trade idea.
Tried some ghost price action...ominous.
US Coffee futures ( KC1!) - stay short for C wave US Coffee futures ( KC1!) has completed ABC zigzag up side where C wave was extended impulse.
It dropped in wave A in 15 min time frame, so get in to sell trade in B wave near 124.25, with stops above invalidation level above 127.50 for target of C wave down up to 116.50, which is the 4th wave zone of internal wave of C previous wave of Up cycle.
KC 6/29 ReviewCoffee finally seeing a breakout after spending most of June in a range. Sept. contracts finally seeing a close, albeit a small one, above the 100 mark. Temps in Brazil, along with some chatter about a frost, boosted prices today. Shipping delays are helping provide some near-term support as well. From a technical standpoint, prices closed almost right at the 34-day MA. Today's resistance also coincided with the 23.6% retracement off the March 26 break high / June lows. The shorter 9-day MA, which was flat over the last week, has started to turn higher as well which is supportive for an upward trend. Overall, fundamentals are giving a bullish tilt to prices here as frost concerns have historically been the catalyst for further upside. A close above 103 points to a retest of the 38.2% retracement at 108.45.
Long position on CoffeeCoffee is now at importat support on level 95 USD. MACD looks bullish. It's time to right arm of inverted head and shoulders with target 105 USD?
COFFEE IS ON BUY ALL MONEY INTHE STORY OF THE COFFEE IS FACIANATING.
A HUGE VOLUME OF BUYERS ARE IN THE MARKET NO SIGNE OF DOWN EFFECT.
