COFFEE May Reverse! Here is Why: (Trading Plan)

coffee is extremely bearish since September.

we saw a sharp and strong decline during the last two month.

however, just recently the price has reached a major daily support level .

chances are high that we will see at least a pullback from that.

I am waiting for a 4H candle close above 107.1 level.

it is a horizontal neckline of an inverted h&s pattern.

after the breakout I will buy the market on retest.

goals:

110.65

113.0

(if neckline is respected and price drops below the head, setup will be invalid)