Another round of coffee cycleCoffee futures looks bullish.
Falling wedge breakout target $275-$294
NOT FINANCIAL ADVICE
KC1! trade ideas
Drink Coffee and make money from the market Can Coffee commodities help us to predict the stock market ?
I don't know and this is based on my personal observation and not historical facts, so take it with a pinch of salt. Look at the Coffee chart carefully! It starts to reach the peak in Dec 2019 when it was at a high of 142. Two months later on 18 Feb 20, the SPX500 followed.
Go google yourself and you would find a ton of media news and gurus convincing the reasons why. That is why I said reading news are more for entertainment as it leaves me nothing but more question marks in my head.
Coffee finally soften its selling pressure when it went to a low of 94.75 for 2.5 months before it rebounded. Last week on 10 Aug 20, it finally broke out of the bearish trend line and look set to continue the bullish trend.
However, it looks like the SPX500 has rebounded much faster than Coffee.
Are you willing to bet on your cup of coffee that it will go higher from here while watching the stock market ?
I leave the choice to you. Do consider your portfolio allocation to commodities, capital management, position sizing, stop loss and risk management.
Trade safely
COFFEE Will Rise Next Days ! COFFEE Will Rise Next Days
I Advais You To Buy
The Target : 146 . 70 USD
StoopLoss : 127 . 10 USD
Coffee futures (KC1!) - stay bearish Coffee futures (KC1!) has completed W & X wave and now going down in Y wave, which will unfold in ABC. A is in progress, so sell near 120.50 - 121.50 with stops above 123.95 for down cycle and target zone is near 106 as ABC finishes.
Sell opportunity for the KC on the 15MI see a formation of a beautiful sell configuration on the 15M since the the KC broke a strong support area and this will lead to a bearish move.
Coffee futures (KC1!) - stay bearish Coffee futures (KC1!) is in Y wave down so stay short in bounce with stops above 127.25 with smaller quantity for Y wave down for target below 106 or even lower. THere is small possibility of X wave extension, so stops should be above the major swing high and stay small so that full move can be captured.
Coffee futures (KC1!) - stay bearish Coffee futures (KC1!) - is in (X) wave correction in wxy where y is in abc zigzag, so wait for it to complete near 121 zone, where (X) wave finally finished. thereafter stay bearish with stops above 127.25 for (Y) wave down for target zone around 106 or lower. The cycle is double zigzag as (W)(X)(Y).
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