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Sugar

Sugar 1-day classic patternsQ: What has the highest probability of occurring? There are bearish pattern failures followed by bullish pattern validations into an uptrend. There are 2 classic patterns 1 is validated the other has not validated. The cup & handle is in breakout and is approaching its target. The pattern projects $0.2175 per pound as the target. The bull flag is not validated. This pattern projects $0.2200 per pound as the target. Objectively $0.20 per pound is a psychological resistance level. The price for a pound of sugar has increased and the breakout from bullish patterns coinciding with the failure of bearish patterns reflect this. Volatility is declining and the rate of change has dropped below 0. Declining fear and a break in the trend's momentum. Since the cup and handle has validated the bias is for long positions. Confirmation of the bull flag provides a starting point for trend continuation.
OANDA:SUGARUSDLong
by xciiitradingco
SUGAR - Sell Setup Forming!Hello everyone, if you like the idea, do not forget to support with a like and follow. SUGAR is approaching strong resistance in blue from Weekly (0.17-0.18) so we will be looking for sell setups on lower timeframes. on H1: SUGAR formed a channel in red but it is not ready to go yet. We want the sellers to prove that they are taking over by breaking below the last low. Trigger => Waiting for that swing to form and then sell after a momentum candle close below it (gray zone) Until the sell is activated, SUGAR would be overall bullish and can still trade higher till around 0.18 And of course, as SUGAR approaches our lower brown trendline, we will be looking for trend-following buy setups. Good luck! ~Rich
OANDA:SUGARUSDShort
by TheSignalyst
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