Coffee has doubled its range down to the origin/ ignition of the Jun-Nov rally. Price is primed for a long move to the median line. What makes this compelling is a cheap stop can be had below structure (under $17.88). Buy the breakout of past 3 bars or wait for retest.
Commento:
F/1/20 Appears to have survived the short-bait at the gap. Long for the swing.
Commento:
Someone asked me how far this could run or where to take profit. I had replied $22.50 as trouble, but I was long for the full swing. So here we are after tagging that level (can you see the horiz line I added there?) we tagged what I'll call the island-gap neckline level (see how the top Head & Shoulders sloped formation is like a giant island-reversal with gaps each side?). This may be as far as it goes. I sold half of my position and may trade-around what happens from here.
Commento:
Went long again yesterday. Smaller time frame confirmed this morning on $KC_f (on 45 min you can see gap up on 15th, retrace-fill then take-out of descending flag made on 2/16 & 17th.
Commento:
Re-long didn't get anywhere as low range here gets tested again, likely lower.
Commento:
Now that was a significant bar at the origin of the last rally. Hit me!