Hey guys it's Marco, I am new in this site and I am already astonished. Wow what a community :) I apologise if the chart presents imperfections or what so ever, I am still studying all the tools that are offered in order to draw studies. BTW I have to say that it's AMAZING, the best trading chart editor I have ever used. My compliments guys!
My idea on the Cocoa is that is gonna try to get all the way down to the support line. It is a good opportunity to trade, at least to give it a try :)
The chart has to be read from the 01/14/2008. We find 3 dark oranges circles that identifies bottom/middle/high of the price range the cocoa is moving.
The green circles identifie the entering point of our trades. As you can see from the green rectangles these weeks should be the repetition of what already happened from 09/2008 to 10/2008, from 11/2011 to 12/2011 and hopefully through all the month of November 2016! The cocoa tried to get up to the top (or viceversa to the bottom) As you can notice there is uncertainty in the zones drawn first in light orange and then in blu and violet. These zones will offer as well trading opportunities due to the fact that the price will bounce between the support/resistance lines testing tops and bottoms for days and days but be aware that it will be more risky and less profitable to jump in.
I hope I have been clear.
Thanks and please share with me what you think about it :)
My idea on the Cocoa is that is gonna try to get all the way down to the support line. It is a good opportunity to trade, at least to give it a try :)
The chart has to be read from the 01/14/2008. We find 3 dark oranges circles that identifies bottom/middle/high of the price range the cocoa is moving.
The green circles identifie the entering point of our trades. As you can see from the green rectangles these weeks should be the repetition of what already happened from 09/2008 to 10/2008, from 11/2011 to 12/2011 and hopefully through all the month of November 2016! The cocoa tried to get up to the top (or viceversa to the bottom) As you can notice there is uncertainty in the zones drawn first in light orange and then in blu and violet. These zones will offer as well trading opportunities due to the fact that the price will bounce between the support/resistance lines testing tops and bottoms for days and days but be aware that it will be more risky and less profitable to jump in.
I hope I have been clear.
Thanks and please share with me what you think about it :)