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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Tuesday, 9 September 2014

Coffee

I would be inclined to buy coffee if we form a reversal pattern around 180-185....any upmove from there would be a 4th attempt at the highs and longer term moving aves are bullish

for now we must respect the triple top. 185 is the 50% retracement support (green line)





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7 comments:

  1. Unknown10 September 2014 at 22:00

    Hi,
    what could be the next move after today's 6% down,we've already reached your price target (180-185)
    best regards Witold

    ReplyDelete
  2. Chartrambler10 September 2014 at 23:47

    today was a bearish power candle so I wouldn't be trying to pick a bottom.Would trail a stop if short above todays high and wait for a reversal candle before considering any longs
    Will try and update the chart tomorrow

    ReplyDelete
  3. Unknown11 September 2014 at 20:46

    Hi,
    today's bullish price action is supporting possibility of trying to pick a bottom
    Witold

    ReplyDelete
    Replies
    1. Chartrambler12 September 2014 at 10:00

      today was just an inside day,(harami) Best to watch the 50-61.8% retracement "box" and wait for it to reverse out of it
      Wednesdays candle has turned me more bearish although we might bounce first

      Delete
    2. Unknown12 September 2014 at 10:50

      thank you

      Delete
  4. Unknown11 September 2014 at 21:32

    chart :http://www.screencast.com/users/domaran

    ReplyDelete
  5. Chartrambler12 September 2014 at 10:02

    Thanks. I think it wants to rest your blue line. We'll see

    ReplyDelete

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