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Wednesday, 20 January 2016

Cocoa Technical Analysis For Your Learning: 20 January 2016, Wednesday, 2.18am Singapore Time

20 January 2016, Wednesday, 2.18am Singapore Time

Attached above is the 1-hourly chart for Cocoa as well as my shorts entry and exit.

Original plan was to follow trend (trend is your best friend) and execute a short on break-down (refer chart above: shorting the orange channel break-down). Shorts are well executed but the battle ground seems very treacherous. 2 gap ups are enough to convince me there is some strength in cocoa now despite previous breaks.

Decide to cut and get out now. Cocoa is my pain tonight. A well executed trade, but the battleground proved otherwise.
I am going to buy a few boxes of Koko Crunch, add chocolate milk, and eat the hell out of them to vent my cocoa anger when I have my breakfast later.

Above are the losses in ($) US Dollar (USD).
Below are the losses converted into (SD) Singapore Dollar (SGD).

Losses in this trade:
 - S$ 23,195 SGD

S$ 125,378 - S$ 23,195
= + S$ 102,183 SGD

Trading Journal:

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