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Re: kcn21 Daily Fork
In coffee they usually trade in windows of 4 to 5 days for them to fall. For example the low daily cycle of coffee was within may 12th-18th and the 13th we had a low of 14385 with a high of 14790.The market needed to break above 14790 twithout making newer lows to confirm it. Today it blew the top of 14790 with a BREAKAWAY GAP.a lot of times gaps run in a sessions of 3. Breakaway, Runaway and Exhaustion . The market generated a 5 hrs buy signal today which could propel it above 16000. The next daily cycle should be a high one within may 24th-28th.
Markets usually have 3 daily cycles within one month (between lows and highs together).