TMV Swing Trade Report – Short December Coffee @ 266.45 – Hit the Target objective! – Coffee offers a great example of the power of the median and the need to understand how it can influence price action. In the last issue of the TMV I said Coffee should trade near 255.00 over the next couple of days. As you see on the chart below, Coffee traded to a low of 255.10, where it bounced off the median line. Taking action as the market touched the median line meant the difference between exiting near the low of the price move or seeing the profits disappear as the market quickly took away all the daily gains. For more information on how to use median lines to enhance your swing trading strategies, go to www.tradersnetwork.com.
December Coffee - click to enlarge
