JO (Coffee Total Return Index ETF) has now hit the final target, T3 at 33.98, so consider booking full profits as the R/R (risk/reward ratio) no longer remains favorable. Today’s final target gives the JO trade a gain of 45.2% since the downtrend line breakout less than 2 months ago and a whopping 64.2% total gain on the trade for longer-term traders who took the original entry back Nov 6, 2013, which was literally the very day that JO bottomed in a vicious bear market that wiped out over 75% of the value of this Coffee ETN. That original entry at the lows was based off both the weekly chart (making a case for a longer-term bottom) as well as the 60 minute chart (for timing the entry), a great example of using multiple time frames on a trade. The original notes and charts can be viewed by clicking the link above. Updated daily static chart shown here or click here to view the live chart of JO.
JO (Coffee ETN) Final Profit Target Hit