Thursday, 7 January 2016

Cocoa breakdown

wow !.....cocoa broke 3000


4 comments:

  1. Very well done for spotting and playing such a good steep drop in Cocoa.

    Cocoa is not lone commodity breaking support and ripping straight through it. Is what happened to BHP not long ago with Fibonacci projection around $20.00, minor support at $18.00 that it slices straight through. It currently trades at $16.35. Moderate support at $11.60 and major support at $8.70.

    I was eyeing it off at $26.00 for what I thought was a 5th of 5th of C down to $20.00 fib support waiting for a far cheaper entry. Then flipping bang that just not stop.

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    Replies
    1. Thanks JD....wasnt expecting 3000 to give way so quickly and covered too early but a profit is a profit.Cocoa was one of the few commodities to perform last year

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    Essential viewing.

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    https://www.youtube.com/watch?v=RaghqW1QWQQ

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