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Arabica Coffee (KC) Completes Weekly Chart Double Bottom


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As seen on Bloomberg, Refinitiv (Thomson Reuters), Factset, Interactive Brokers, Amazon,Liquid (Quoine) and Zerohedge, Tradable Patterns (https://tradablepatterns.com) provides daily technical analysis on a subset of three CME/ICE futures (commodities, equity indices) and spot FX markets, which it considers worth monitoring for the day/week for trend reversal or continuation, along with a separate weekly technical analysis newsletter on Bitcoin (BTCUSD), Ethereum (ETHUSD) and Ripple (XRPUSD or XRPJPY). For less experienced traders, tutorials and workshops are offered online and throughout Southeast Asia.

Happy 2019! Hope you've all enjoyed the holiday season. On Jan 8, Today's Top 3 Trades made another important tweak to its format (described here ), due to suggestions by readers to maintain a top trade idea of the day, irrespective of asset class.

Arabica Coffee (KC) saw some healthy profittaking yesterday as it digests the break above downchannel resistance (on the 4hr and daily chart). Significantly, KC has completed a Double Bottom with the December and September lows roughly equal just below the psychologically key 1.00 whole figure level. Although KC may see another day or so of consolidation, long term bulls will increasingly buy this dip as they begin positioning for a test in the next few months of downtrend resistance (on the weekly chart) and last October's high. The weekly, daily and 4hr RSI, Stochastics and MACD are bottomish. I am long as of Wednesday at 1.058 flat, and am targeting the red zone for Tuesday. The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).



Arabica Coffee (KC) Weekly/Daily/4hr

KC (Arabica Coffee) Technical Analysis

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Before the launch of Tradable Patterns , Darren Chu, CFA, served as IntercontinentalExchange | NYSE Liffe's country manager for Australia, India, and the UAE between July 2010 and January 2014, expanding his role to look after Liffe business development in APAC ex-Japan/Korea until his departure mid April 2014.  His primary remit was developing relationships with Liffe clients, prospects and partners in the buyside (traditional and alternative asset managers), proprietary trading (high frequency algo as well as manual, point and click traders), bank, broker (institutional and retail), commodity trader and ISV community.  Key futures and options promoted included European/London rate benchmarks such as the Euribor, Short Sterling, Gilts, London/European index futures including the FTSE and CAC, London soft commodities (Robusta Coffee, Cocoa, White Sugar), Paris (MATIF) markets (Milling Wheat, Rapeseed), and NYSE Liffe US markets with the MSCI EM, MSCI EAFE, gold/silver, Eurodollar, US Treasury and GCF Repo futures being the focus.

 

Previously, Darren was with the TMX Group | Montreal Exchange for 4 years, marketing Canadian futures and options across North America, London, Singapore and Hong Kong.  Darren also launched and managed CMC Markets Canada's Chinese marketing and sales team, along with educational offering.  On the academic trail, Darren has been a frequent guest speaker at Canadian universities as well as an author of content for 3 derivatives courses offered by Canadian Securities Institute and mandatory for licensing of Canadian derivatives industry professionals.

 

Darren can be reached at +65 8118 8840 or via email at darrenchu@tradablepatterns.com.

 

 

 

contributing author since 11/21/2017 

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