Cocoa is coiling

Alright folks, let’s take a look at cocoa cocoa futures ticker is going to be CC on most platforms. We’re coming into a bearish window here very short, shorter term window here from Jan 20 to Jan 27, about seven or eight calendar days, this one has been profitable at 6% of time over the last seven years. This is based off our smart seasonal software, you see, we have a nice little equity curve here, nice upward sloping equity curve, just trading single contract, going back to 2015. So of course, we want to take a look at the technicals. And we have a weekly chart on the left daily chart on the right. So of course, looking at the higher timeframes here. Basically, on the daily, it looks like we’ve got a little bit more room to run, you know, we’ve got this maybe 2750 areas, the next area that we probably look to fade or trade against. And if we take a fib tool from this swing low, up to this swing high, that would put us right here around the 786 level around 2710. So this is an area that I liked to come see tagged. First, it didn’t look for some type of topping pattern 123 Top some type of divergence sell pattern into this, this 2710 2720 area to look to short against now if we look at the monthly, you’ll notice that we are basically kind of coiling up here we’re getting this triangle patterns take a trend line tool, and we’ve got this triangle pattern that has been coiling since May of 2018. That’s a long time Mark. It’s just choppy, choppy choppy going up and down. So based off of the monthly let me get rid of that. This looks like considering this area holds would be a good area to sell again. So we’re coming up here into the upper range of the triangle, which we know is also this monthly and weekly area of resistance or structure. And so again, we would drill down to the lower timeframes, such as the daily to see if we can get a little bit better entry. So you can always play cocoa using Jo not J O nib rather in IB, which is the ETF that tracks cocoa it’s a little little spotty, but you can see basically the same analysis so we look at round 30 to 75 would be an area that we look to short there on nib 30 to 75 on the ETF so a couple of different ways to play it. Cocoa futures, cocoa futures options, or the ETF this is just a sample of some of the markets that we cover each and every week during through our seasonal spotlight picks as well as our core portfolio. I’m gonna drop you a link to a trial if you’re interested. And I’ll see you on the inside