Short
Cocoa topping
Seems cocoa is finding a way lower. On the monthly I see too much pressure building. Path of least resistance is likely to the downside at this point. I prefer to get in a bit early than wait for the pennant to break to the downside (if it does).
Trade active
Entry @ 3000Note
Crack. See yaNote
If you're lucky you still might be able to short at 2750. The beauty is your r/r would still be attractive because any break above 2850 would qualify this is a fake out to the downside. Probability continues to be to the downside on this one. Far lower.
Trade closed: target reached
Holding short
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.