COCOA waiting to go SHORT
#Cocoa (US Mar 2017) is close to a support in its retracement and might just go back again to keep its going.
Actually, on my broker the current bar (with no shadow) is exactly at the 23.6 Fibonacci level calculated from 2 lower-high ago (03 Nov 2016) which is aligned with the one calculated from the latest lower-high (06 Jan 2017) --> see green arrow on the chart.
Anyway, the can be seen on the D1 chart
The H4 chart is not available but we can get a good idea of the levels having a closer look at the main image (zoomed from D1).
The upwards retracement is expected to reverse either on the Fibonacci level or on the .
Keep this under monitoring and be ready for a price-based action to go #SHORT.
Definitely not the same COCOA of the chart over here.
What I am trading is US Cocoa Mar Fut - 10 Feb 17