JO daily Feb 24th- Final Target Hit

JO daily Feb 24th- Final Target Hit

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.

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