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Re: Trades- coffee w/sugar/Symour *PIC*
In Response To: Trades- coffee w/sugar ()

Dec Coffee is a more erratic commodity. Often doesn't respect price support or resistance. Stop losses get hit above or below regardless. I guess options would be the way to trade it but they are priced accordingly and more expire than make money for sure. You would need a very big move to make money on options unless you had a very sophisticated strategy in place. Far beyond my capability. See price breakout over the downtrendline and rally about 70% of its selloff. Didn't stop at a typical Fikb 61.8% but faked everyone out thinking "double top". Coffee loves to do this. Then everyone long there saw a selloff and bailed out. Price came back down to 235 support and failed to hold even though price was above the broken downtrendline and looking more bullish long term. Not so. It failed to hold as well. More losses for the bullish buyers. PRice now has retraced 50% of its long term rally. Not that it means much to Coffee. But that is also the upper side of the downtrendline which often serves as support. So there is at least two layers of support at one spot which is callied a confluence of indicators at one price point. Kind of like laying two planks on top of each other to walk across. It does tend to strengthen that support point. Price has also formed a small W pattern and is presently breaking out over the top of that as well. Odds favor more upside from here. Note now well the RSI 21 signaled previous highs and lows when reaching the very overbought and very oversold areas. That indicator is more reliable when large moves up and down are being made more so than steady quiet trends. Seasonal trends in all time frames show the major yearly uptrend period from early October right into March. It's the drawdowns that can kill you even if right overall.

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Trades- coffee w/sugar
Re: Trades- coffee w/sugar/Symour *PIC*
Re: Trades- coffee w/sugar/Symour *PIC*
Re: Trades- coffee w/sugar/Symour