This commodity is crazy. I use to trade it weekly trading (renkos 40-3 minutes) and long term trading (renkos 110- 3 minutes) with derivatives. From the 4 commodities I trade (cocoa, coffee C, sugar n11 and natural gaz) this is the most interesting.
hi, the current price this week broke the chart and forecast that you demonstrated, so I suppose now it is bearish territory (?) and see what happens in the next 2 or 3 weeks....,so this maybe irrational territory for this. Btw, your information is superb. thanks!
Thank you kindly @orozcoluis4765. No not necessarily in bearish territory just time to re-evalute when targets hit. As we've seen from the time you sent this it continued further to record highs but upside momentum does look to be cooling but its still pushing - longer term Fibonacci outlook suggests even 14500 zone upsides! Ive been trading it up to the 12000's but using faster and more short term strategies as it does like you say feel a it 'irrational' at these numbers and a bit nose-bleedy at the moment due to the high altitude its trading at!! My rule is 'trade what you see!' Regards Stephen
@@TheStopHunter , thanks for your comments and analysis, a day before I was looking into the reports, before the cocoa international conference that took place in Belgium, overall grinding is higher than production, and crop takes minimum 1 - 2 years. there should be room to go higher. Besides its fair for farmers finally getting a better prices for their effort.
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This commodity is crazy. I use to trade it weekly trading (renkos 40-3 minutes) and long term trading (renkos 110- 3 minutes) with derivatives. From the 4 commodities I trade (cocoa, coffee C, sugar n11 and natural gaz) this is the most interesting.
Explain please..
403 minutes
@@lucksonmwape9352 Renkos box size = 40. Timeframe = 3 minutes.
@@lucksonmwape9352 renkos box size = 40, timeframe = 3 minutes. I also checked in 5 minutes and it works even better.
I agree and its great fun at the moment @martindurand7393! Thanks for your feedback and insights. Regards Stephen
hi, the current price this week broke the chart and forecast that you demonstrated, so I suppose now it is bearish territory (?) and see what happens in the next 2 or 3 weeks....,so this maybe irrational territory for this. Btw, your information is superb. thanks!
Thank you kindly @orozcoluis4765. No not necessarily in bearish territory just time to re-evalute when targets hit. As we've seen from the time you sent this it continued further to record highs but upside momentum does look to be cooling but its still pushing - longer term Fibonacci outlook suggests even 14500 zone upsides! Ive been trading it up to the 12000's but using faster and more short term strategies as it does like you say feel a it 'irrational' at these numbers and a bit nose-bleedy at the moment due to the high altitude its trading at!! My rule is 'trade what you see!' Regards Stephen
@@TheStopHunter , thanks for your comments and analysis, a day before I was looking into the reports, before the cocoa international conference that took place in Belgium, overall grinding is higher than production, and crop takes minimum 1 - 2 years. there should be room to go higher. Besides its fair for farmers finally getting a better prices for their effort.