I’ve been watching cocoa closely during this retrace but never really got the setup I wanted.
Probably won’t get to entry before a couple of months, and we see a proper shift. This would be more of a longer-term hold for me, since it can be very volatile.
That said, with the right confluence, this could turn into a very strong trade. Commodities like cocoa tend to respect HTF levels really well, which is why my whole approach here is based around the higher timeframes.
— smikal
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— smikal
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.