I Go for the Gourmet Setups; Chess Moves

After playing the initial move off recent lows and selling into strength late-last week, I just went long coffee again, via the $JO ETN, at $25.02 with a stop-loss below $24.

I am playing for 20-day moving average, denoted by the orange line on the JO daily chart below, to now hold as support to cement an initial higher low. 

To be sure, coffee remains a commodity in a steep downtrend, as many are.

However, with the Dollar coming in there can be fruitful opportunities in playing snapback rallies, provided that stop-loss discipline is strictly maintained.