oops
Short

COFFEE - getting cold

ICEUSA:KC1!   None
465 views
1
I am aware of the falling wedge accompanied with positive divergence and was long recently (and got stopped out)

There is obviously more negative momentum in the very near time, hence shorts are probably the better options with stops running above the trendline . This wedge may not be completed, and targets are 120 handle.

Eventually there will be a strong reversal , but for this I guess we are all waiting, so why fight this trend ?

Comments

Yes your are right JR, I also thought it was building a base but now it looks it is gaining again downside momentum. So this will be a short term trade. BUT: I have my buy-button beneath my twitching finger :-) If this breaks - and I'm sure it will - the whole market will be on it and I want to ride that medium-long term trade.
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looks like a base is building. However you could be right. Saw a lot of smart market predictors earlier this year had Oil at 78 in April/May
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