Sugar #11; Dire StraitsIt is the case once again for the typical, alternating, virtually daily news bites, decrying "world sugar deficits", "Brazilian yield collapse (due to drought; El Nino)", "record Brazilian Real strength", "rising crude oil prices" versus "record Brazilian harvests", "strengthening USD" and "falling crude prices due to recession fears". The song remains the same.
In reality;
- Brazilian harvest prospects are doing just fine;
- The recent Brazilian Real strength is likely experiencing it's end of days;
- Crude oil prices, fundamentally and technically, have a far better chance to turn south than otherwise. (See this post; )
Now, factor in the clearly (very) bearish technical outlook while also noting significant short covering, as of late. E.g., the makings of very favorable SHORT Entry here.
The Daily;
With last week's 5 strait days of breaking lower.
Sugarforecast
SUGARUSD Bearish ShortTrading AnalysisSUGAR RAWUSD
Bearish trend forming for Sugar Commodity
We are seeing a Elliot 5 pattern way theory occurring as well on the 2-3 hour charts.
But most importantly sugar is spiraling down towards a major support level. Clearly the uptrend has broken it's trend line with a fake cat bounce/retest making it definite the reversal has occurred.
FIB LEVELS also mention that the support is a crucial zone of interest. As it could reverse or keeping it's bearishness due to it's heavy many spikes of volume.
A parallel channel has formed. I would place a sell limit in it's latest order block as seen in the picture, also to mention that there are many inside bar candles in this order block which can be used efficiently for the right trade, in this scenario shorting.
A nice 650+ pip move if all goes as speculated.
- David van Delden
Oh Sugar! SB1!ICEUS:SB1! Oh sugar!
Looking expensive in my humble opinion!
Lows: 24.25 Highs: 27.30
We had the bullish flag formation, ever since then we been riding higher but it's at key Fib area and resistance zone! I expect sugar to pull back a little to next lows. However, we could still reach 30 area!
Have a great day ahead,
Trade Journal!
SUGAR RAW LONG - Buy Entry - D1 ChartSUGAR RAW LONG - Buy Entry - D1 Chart
Buy @ Market
Symbol: SUGAR RAW
Timeframe: D1
Type: BUY
Entry Price: Buy @ Market
TP - Resistance @ 20.28
TP - Resistance @ 19.47
Support @ 18.53
Support @ 18.68
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SUGAR WHITE LONG - Buy Entry - D1 ChartSUGAR WHITE LONG - Buy Entry - D1 Chart
Buy @ Market
Symbol: SUGARWHITE
Timeframe: D1
Type: BUY
Entry Price: Buy @ Market
TP - Resistance @ 563.95
TP - Resistance @ 586.58
Support @ 524.68
Support @ 528.00
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NY #11 Front Month Contract continues its uptrendThe recent pullback from 15.50 resistance did shake out some players but the fundamental story remains the same (Lower production on the softs though a risk of Indian Exports continues to hound the market. Actually, buying near the lower end of the channel for the past couple of days with a wide stop and proper sizing would enable a trader to catch and on to it as it attempts to try to breach the 15c level. The next resistance level seen in the chart is around 15.50 and the next would be 16c.
SUGAR FUTURES (SB1!) DailyDates in the future with the greatest probability for a price high or price low.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick. If multiple Djinn prediction dates are missed and are plowed through by same color Henikin Ashi candles the asset is being "reset". The "reset" is complete when Henikin Ashi candles are back in sync with Djinn price high or low prediction dates.
One way the Djinn Indicator is used to enter and exit trades:
For best results trade in the direction of the trend.
The Linear Regression channel is used to determine trend direction. The Linear Regression is set at 2 -2 30.
When a green Henikin Ashi candle intersects with the linear regression upper deviation line (green line) and both indicators intersect with a Djinn prediction date a sell is triggered.
When a red Henikin Ashi candle intersects with the linear regression lower deviation line (red line) and both indicators intersect with a Djinn prediction date a buy is triggered.
This trading strategy works on daily, weekly and Monthly Djinn Predictive charts.
This is not trading advice. Trade at your own risk.
SUGAR FUTURES (SB1!) WeeklyDates in the future with the greatest probability for a price high or price low.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick. If multiple Djinn prediction dates are missed and are plowed through by same color Henikin Ashi candles the asset is being "reset". The "reset" is complete when Henikin Ashi candles are back in sync with Djinn price high or low prediction dates.
One way the Djinn Indicator is used to enter and exit trades:
For best results trade in the direction of the trend.
The Linear Regression channel is used to determine trend direction. The Linear Regression is set at 2 -2 30.
When a green Henikin Ashi candle intersects with the linear regression upper deviation line (green line) and both indicators intersect with a Djinn prediction date a sell is triggered.
When a red Henikin Ashi candle intersects with the linear regression lower deviation line (red line) and both indicators intersect with a Djinn prediction date a buy is triggered.
This trading strategy works on daily, weekly and Monthly Djinn Predictive charts.
This is not trading advice. Trade at your own risk.
SUGAR FUTURES (SB1!) MonthlyDates in the future with the greatest probability for a price high or price low.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick. If multiple Djinn prediction dates are missed and are plowed through by same color Henikin Ashi candles the asset is being "reset". The "reset" is complete when Henikin Ashi candles are back in sync with Djinn price high or low prediction dates.
One way the Djinn Indicator is used to enter and exit trades:
For best results trade in the direction of the trend.
The Linear Regression channel is used to determine trend direction. The Linear Regression is set at 2 -2 30.
When a green Henikin Ashi candle intersects with the linear regression upper deviation line (green line) and both indicators intersect with a Djinn prediction date a sell is triggered.
When a red Henikin Ashi candle intersects with the linear regression lower deviation line (red line) and both indicators intersect with a Djinn prediction date a buy is triggered.
This trading strategy works on daily, weekly and Monthly Djinn Predictive charts.
This is not trading advice. Trade at your own risk.