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