Elliott Wave Training

Are you looking to learn the Elliott Wave principle? Or maybe you already have some experience and want to find the ways to improve your skills better.

Click on this post for details:

http://wavepatterntraders.blogspot.com/2012/04/elliott-wave-training.html



Sunday, December 21, 2014

Elliott Wave Analysis of Coffee (JO) Update

Its been a few weeks since my last article see here:

http://wavepatterntraders.blogspot.com/2014/10/elliott-wave-analysis-of-coffee-jo.html

As i wrote back then, the bull trap was something I felt most traders would be tricked into buying and so it seems to be true. Slowly its moving nicely towards the target area of 30, although I want to see KC (Coffee contract) also make a new low as both markets are still short of their respective targets.

Once we meet those target i think both KC and JO will offer a nice setup to buy, most likely right at the time most traders will give up. That's usually the way it seems, but for others to be successful other need to suffer pain.

Elliott Wave is a great method for identifying potential traps, Elliott Wave could have saved the bulls the pain of getting caught up with the hysteria i was reading at the time. The bulls really did get sucked into the hysteria.

However the good news is the pain should be close to ending, its then bullish traders can look to re-buy again. Hopefully by the time members look to buy, many will be disgusted and be bearish this market.