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Excellent Chart Structure In Cocoa


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Cocoa Futures--- Cocoa futures in the December contract are currently trading at 2086 basically unchanged for the trading week as I have been recommending a bullish position from the 2010 level and if you took the trade continue to place the stop loss which has now been raised to 1999 as the chart structure is outstanding at the present time as I will be looking at adding more contracts in Monday's trade to the upside.

Weather conditions in the Ivory Coast West Africa remain outstanding as we should produce an excellent crop, but all of that bearish fundamental news has already been reflected into the price as we have the strong demand season of October & Christmas ahead of us as I still remain bullish.

The chart structure at the present time is outstanding therefore the monetary risk is relatively low as I still am recommending this trade even at today's price levels as the risk is around $900 per contract plus slippage & commission as prices are still trading above their 20 and 100 day moving average telling you that the short-term trend is higher as this is my only soft commodity recommendation at the current time.TREND: HIGHERCHART STRUCTURE: EXCELLENT

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-312-224-8140 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: mseery TWITTER---@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.



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About the author


Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
 
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
 
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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