SUGAR
Sugar double topSugar forming double top on the daily chart. If the daily candle close below the horizontal line that's a good short signal. if it close above the line, then need to wait to confirm because maybe that's a fake breakout.
Sugar Trade (Entry at 0.14392) (Take Profit at 0.15120)Enter SUGARUSD at 0.14392. Take Profit at 0.15120.
SUGAR on the 0.382 🦐SUGAR on the 4h chart after reaching the 0.15 level starts a retracement move.
The price touches e exactly the 0.382 fib level and created a falling wedge.
IF the market will close and break above the 0.14300 area and consequently breaks the descending trendline we can set a nice long order according to Plancton' strategy.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
SUGAR on the 0.382 🦐SUGAR on the 4h chart after reaching the 0.15 level starts a retracement move.
The price touches almost the 0.382 fib levelk.
IF the market will close and break below we can set a nice short order according to Plancton' strategy.
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
SUGAR - Something big aheadSugar is preparing for something big.
The price is in range for a couple of days now and the ATR is dropping.
I'm biased for some reason that price will drop sharply.
However the trend still remains bullish on all TFs.
Hoping to see price at the area of value to work out intentions from there.
Good luck traders.
Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become a better trader.
SUGARUSD - More sweetness to it?Following yesterday's idea (pls see below for link) and after engaging a few long orders today sugar turned long as we expected.
The uptrend is now stronger than before (see the two green lines) and the price is currently at a critical level.
At this level we can do two things:
1) increase our trailing stop losses to a new level (I suggest you consult the ATR indicator for that),
2) consider taking some profits (TP1 on chart).
My hope is that there is more to expect from our dear sugar and get the full potential up to the TP2 point (I put a long order next to it so you can see the potential).
However we have to be cautious and monitor closely price movement as markets are there to surprise us.
As long as the +DI and the -DI don't "kiss" and the ADX remains at around 40-50 then my hope has pretty good chances of materializing.
Good luck traders.
Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become a better trader.
SUGARUSD - As sweet as it gets?Sugar a few minutes ago reached the expected level I was refering to in my previous idea.
The trend in bullish although we have a strong pullback just now.
The COT data metioned on the chart supports further climb (unless something happened in the meantime that we still don't know about).
As usual nothing is certain in the markets.
So as I see it with the data we have now Sugar will continue its climb respecting the 50MA as it did before. This is the reason why I engaged my first buy orders and keep monitoring the price action for further moves.
Good luck traders
Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become a better trader.
SUGARUSD - Going up, where to enterSUGAR is clearly bullish on 4h-D-W time frames.
On the monthly time frame we expect at some point (mid-term I would say) to retrace back to the Fib 0.382 level.
The COT (Commitment of Traders) outlook of the institutions for the week of SEP 29 supports the bullish trend as net positions increased to 248.345 compared to 234.659 of the week before that. Volume clearly shows that as well.
So total reversal is not in-sight at least to me at the moment. More likely as mentioned above a retracement to the level of the Fib 0.382 for profit taking like with the other two times measured and indicated on the chart.
As for my strategy at the moment is to stay on the side and wait price to come to the potential entry area and then take a long position looking for 300-350 pip gains.
Good luck Traders.
Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become a better trader.
Short-term rally. EntriesI want to return to Sugar. This market doesn’t have a strong setup. However, there is a chance for a short-term trade. The seasonal tendency is to the upside. Besides, we have a divergence in the 4h chart. So, breaking above the trendline can bring us some profits.
