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Coffee short up 118%, looking for major reversal


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#1 diogenes227

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Posted 15 January 2018 - 09:19 PM

From the link:

 

 

Coffee is still in an overall downtrend (see chart below) but if it turns now, it will put in a second higher price low since its bottom in December at 118, which makes it not only a long trade to take, but also gives it a chance to have a major bullish reversal. Looking ahead if it can take out 128 with some conviction, there could be the birth of a new bull market in the commodity.

 

For the chart:

 

COFFEE - maybe a turn to a new bull market


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#2 diogenes227

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Posted 16 January 2018 - 03:40 PM

From the link:

 

 

Coffee is still in an overall downtrend (see chart below) but if it turns now, it will put in a second higher price low since its bottom in December at 118, which makes it not only a long trade to take, but also gives it a chance to have a major bullish reversal. Looking ahead if it can take out 128 with some conviction, there could be the birth of a new bull market in the commodity.

 

For the chart:

 

COFFEE - maybe a turn to a new bull market

 

The coffee tuture did not turn up, continuing the down trend (and its bear market).  Profit on short now at 147% of initial margin.

 


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#3 diogenes227

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Posted 17 January 2018 - 02:10 PM

 

From the link:

 

 

Coffee is still in an overall downtrend (see chart below) but if it turns now, it will put in a second higher price low since its bottom in December at 118, which makes it not only a long trade to take, but also gives it a chance to have a major bullish reversal. Looking ahead if it can take out 128 with some conviction, there could be the birth of a new bull market in the commodity.

 

For the chart:

 

COFFEE - maybe a turn to a new bull market

 

The coffee tuture did not turn up, continuing the down trend (and its bear market).  Profit on short now at 147% of initial margin.

 

 

 

Coffee futures reversed to a long on the close today, netting a 100% profit for the end of the trade, $2350 per contract on an initial margin requirement of $2310.

 


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#4 dougie

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Posted 17 January 2018 - 03:32 PM

Does JO work for these signals by any chance?



#5 diogenes227

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Posted 31 January 2018 - 07:47 PM

Does JO work for these signals by any chance?

 

Gave JO a look-see and couldn't make it work on the back test, probably because of the lack of leverage on the swings.

 

By the way, after a $200 loss on the last long, coffee is short and up a bit but sitting close to a supporting trend line (yuck).

 


Edited by diogenes227, 31 January 2018 - 07:48 PM.

"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#6 dougie

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Posted 31 January 2018 - 09:15 PM

THANKS