CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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COCOA (#COCOA )

Special Reports - 07/11/2024

07 November, 2024

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

COCOA (#COCOA) Weekly Special Report based on 1 Lot Calculation:

TECHNICAL REVIEW

  • COCOA HAS TESTED ITS LOWEST LEVEL SINCE MARCH 2024 (6419).
  • COCOA PRICES HAVE TESTED THE MARK OF $7000 (OR NEAR) 9 TIMES SINCE MAY 2024. This is the 10th time that the Cocoa prices are testing levels near the mark of $7000.

GRAPH (DAILY): APRIL 2024 - OCTOBER 2024

  • 2024 STATISTICS: COCOA TENDS TO RECOVER BY AROUND 25% AFTER TESTING THE MARK OF $7000 OR NEAR IT.

DATA SOURCE: Fortrade MetaTrader 4

Please note that past performance does not guarantee future results

RECENT DEVELOPMENTS: CONTRACT ROLLOVER ON Fortrade Meta Trader 4 Platform

  • JUNE 9, 2024: COCOA CONTRACT ROLLOVER (FULLY CLOSED). The new contract traded down by around 8% at $9,183 after the rollover and it managed to recover to previous contract’s price of $9,991 within the following 4 days (June 13), marking an increase of around 8.8% (Source: MetaTrader 4 Platform).
  • AUGUST 11, 2024: COCOA CONTRACT ROLLOVER (96.55% CLOSED). The new contract traded down by around 18% after the rollover, fluctuating slightly above the mark of $7,000. Meanwhile, the Cocoa price managed to recover to $8,783 (September 26), marking an increase of 18.72% from the contract’s new price of $7,398 (Source: MetaTrader 4 Platform).

DATA SOURCE: Fortrade MetaTrader 4

Please note that past performance does not guarantee future results

  • EVENT (NEXT ROLLOVER): NOVEMBER 10, 2024.

COCOA (#COCOA) November 7, 2024
Current Price: 7000

Cocoa

Weekly

Trend direction

UP

Resistance 3

10000

Resistance 2

9000

Resistance 1

8000

Support 1

6400

Support 2

6200

Support 3

6000

Example of calculation based on weekly trend direction for 1 Lot1

Cocoa

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

30,000

20,000

10,000

-6,000

-8,000

-10,000

Profit or loss in €²

27,898

18,599

9,299

-5,580

-7,439

-9,299

Profit or loss in £²

23,256

15,504

7,752

-4,651

-6,202

-7,752

Profit or loss in C$²

41,656

27,770

13,885

-8,331

-11,108

-13,885
  1. 1.00 lot is equivalent of 10 units
  2. Calculations for exchange rate used as of 10:48 (GMT) 07/11/2024

There is a possibility to use of Stop-Loss and Take-Profit.

  • You may wish to consider closing your position in profit, even if it is lower than suggested one
  • Trailing stop technique could protect the profit.
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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk. See full risk warning

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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Risk Warning and Disclaimer: CFDs are complex and highly speculative instruments, which come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your invested capital.

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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You can lose all the balance of your trading account, but not more than that, due to Fortrade’s negative balance protection.

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