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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.

I spent half my money on gambling, alcohol and wild women. The other half I wasted, W.C. Fields.

#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.

I spent half my money on gambling, alcohol and wild women. The other half I wasted, W.C. Fields.

#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.

I spent half my money on gambling, alcohol and wild women. The other half I wasted, W.C. Fields.

#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.

I spent half my money on gambling, alcohol and wild women. The other half I wasted, W.C. Fields.

#6 dougie

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Posted 31 January 2018 - 09:15 PM

THANKS