We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of Cocoa. (NYBOT_CC.U13.E).
I hope you are having a GREAT week !!!
This week let's take a look at the Cocoa futures chart.
With futures we use the weekly to tell the trend and the daily for timing the trade.
Right now Cocoa is on a monthly, weekly, and daily MarketClub green Trade Triangle. Having the monthly on a MarketClub green Trade Triangle is not necessary to take the trade, and it is bullish having the monthly Trade Triangle pointing up. Continue reading "Chart to Watch - Cocoa"