SB1! trade ideas
Long SugarHello,
As we can see at the chart, maybe we will have a possible move of sugar to previous highs.We can set up a long positions with a RR of 1.69.
Thanks.
This is not an investment advice , only for educational reason.
Sugar Futures (SBK2022), H1 Potential Bearish DipType: Bearish Dip
Resistance : 19.89
Pivot: 19.63
Support : 19.05
Preferred case: Price is approaching our pivot level of 19.63 in line with 78.6% Fibonacci retracement . We see the potential for a bearish dip towards our 1st support level of 19.05 in line with 50% Fibonacci retracement . Our bearish bias is further supported by the stochastic indicator where price is trading at the resistance level .
Alternative scenario: Otherwise, price could potentially rise to the 1st resistance level at 19.89 which is in line with 161.8% Fibonacci extension ..
Fundamentals: No major news.
Sugar Futures (SBK2022), H1 Potential Bearish DipType: Bearish Dip
Resistance : 19.89
Pivot: 19.63
Support : 19.05
Preferred case: Price is approaching our pivot level of 19.63 in line with 78.6% Fibonacci retracement. We see the potential for a bearish dip towards our 1st support level of 19.05 in line with 50% Fibonacci retracement. Our bearish bias is further supported by the stochastic indicator where price is trading at the resistance level.
Alternative scenario: Otherwise, price could potentially rise to the 1st resistance level at 19.89 which is in line with 161.8% Fibonacci extension..
Fundamentals: No major news.
Added more sugar at 14.36We were wrong in our analysis of Sugar previously, expecting it to correct with a H&S pattern before rebounding.
It simply defy logic and continues to charge higher so we added more at 14.36 where it find some temporary support.
If nothing goes wrong, then we can expect it to continue to revisit the high of 15.38 on 18 Feb 20. So, for those who missed our earlier calls to long Sugar at 12+ , I would suggest you not to come onboard now.
Chasing high price just to take revenge of a missed opportunity is NEVER a good strategy as the risk reward ratio is not great to begin with and also , the chances of a correction is getting higher as it goes higher.
Remember, in trading/investment, leaves your egoes aside and strictly see from the logical point of view. I know, it's easier said than done. Afterall, without the emotions of greed and fear, there probably would not be profits and losses as well......
Sugar Futures (SBK2022), H1 Potential Bearish ReversalType: Bearish Reversal
Resistance : 19.89
Pivot: 19.57
Support : 19.09
Preferred case: Price is approaching our pivot level of 19.57 in line with 138.2% Fibonacci extension and 78.6% Fibonacci retracement. We see the potential for a bearish reversal towards our 1st support level of 19.09 in line with 38.2% Fibonacci retracement. Our bearish bias is further supported by the stochastic indicator where price is trading at the resistance level.
Alternative scenario: Otherwise, price could potentially go to the 1st resistance level at 19.89 which is in line with 161.8% Fibonacci extension and 61.8% Fibonacci projection.
Fundamentals: No major news.
Sugar Futures (SBK2022), H4 Bullish BounceType : Bullish Bounce
Resistance : 19.88
Pivot: 19. 01
Support : 18.56
Preferred case: Price is near the pivot level of 19. 01 in line with 38.2% Fibonacci retracement and overlap support. We expect price to move towards 1st resistance level of 19.88 in line with 61.8% Fibonacci projection , along with a swing high resistance. Our bullish bias is supported by price trading above the Ichimoku cloud indicator.
Alternative scenario: Price may break our pivot structure and head for 1st support at 18.56 in line with 61.8% Fibonacci projection .
Fundamentals: No Major News.
Sugar Futures (SBK2022), H4 Bullish BounceType : Bullish Bounce
Resistance : 19.88
Pivot: 19.01
Support : 18.56
Preferred case: Price is near the pivot level of 19.01 in line with 38.2% Fibonacci retracement and overlap support. We expect price to move towards 1st resistance level of 19.88 in line with 61.8% Fibonacci projection, along with a swing high resistance. Our bullish bias is supported by price trading above the Ichimoku cloud indicator.
Alternative scenario: Price may break our pivot structure and head for 1st support at 18.56 in line with 61.8% Fibonacci projection.
Fundamentals: No Major News.
Sugar Futures (SBK2022), H4 Bearish ContinuationType : Bearish Continuation
Resistance : 18.95
Pivot: 18.34
Support : 17.50
Preferred case: Price is near the pivot level of 18.34 in line with a 100% Fibonacci projection. We expect price to move towards 1st support level of 17.50 in line with a graphical swing low support. Our bearish bias is supported by price trading under Ichimoku cloud indicator.
Alternative scenario: Price may break our pivot structure and head for 1st resistance level at 17.50 in line with 38.2%.
Fundamentals: No major news.
Sugar Futures (SBK2022), H4 Bearish Reversal!Title: Sugar Futures ( SBK2022 ), H4 Bearish Reversal!
Type : Bearish Reversal
Resistance : 19. 40
Pivot: 18.99
Support : 18.34
Preferred case: Prices are on bearish momentum. Prices might potentially move from pivot level of 18.99 in line with 100% Fibonacci projection and 50% Fibonacci retracement towards the 1st support level at 18.34 in line with 50% Fibonacci retracement and 78.6% Fibonacci projection . Our bearish bias is further supported by stochastic indicator as it is trading near resistance level .
Alternative scenario: Price can potentially goes up to the 1st resistance level of 19. 40 in line with 127.2% Fibonacci retracement and 127.2% Fibonacci extension .
Fundamentals: No major news
Sugar Futures (SBK2022), H4 Bearish Reversal!Title: Sugar Futures (SBK2022), H4 Bearish Reversal!
Type : Bearish Reversal
Resistance : 19.40
Pivot: 18.99
Support : 18.34
Preferred case: Prices are on bearish momentum. Prices might potentially move from pivot level of 18.99 in line with 100% Fibonacci projection and 50% Fibonacci retracement towards the 1st support level at 18.34 in line with 50% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is further supported by stochastic indicator as it is trading near resistance level.
Alternative scenario: Price can potentially goes up to the 1st resistance level of 19.40 in line with 127.2% Fibonacci retracement and 127.2% Fibonacci extension.
Fundamentals: No major news
SB (Sugar #11) - SHORTChart pattern LT trend reversal, top end of calculated daily range using price volume and volatility, and setup forming. SL for me TBD depending on action here the next day or two.
Sugar: Symmetrical TriangleMajor Pattern: Weekly Descending Channel
A symmetrical Triangle on Daily Chart could confirm an up or down continuation
Trigger Points: 18.68 or 18.14
False BreakoutFailure H&S confirms false breakout
entry long on 9 Feb, stop intraday on 4H bar at 18.26, target 19.50
SB1! (SUGAR) BULLISHSB1! (SUGAR) is bullish. We are going for the Intermediate 5th of Primary C of the cycle be. For now, the target area is roughly $23.43 to $$24.80 which is 50% and 61.8% of fibo. This is the commodity market and in a commodity market, the 5th wave can be extended. For now invalidation level is $17.60 which is the 4th wave for now.
DISCLOSURE - Please be informed that the information I provide is not a trading recommendation or investment advice. All of my work is for educational purposes only. All labeling and wave count have been done by me manually and I will keep changing according to the LIVE MARKET PRICE ACTION. So don't bias, hope on my trade plans. Try to learn Elliott Wave or other strategies and make your own strategy. Following is not that much easy. I am not responsible for any losses if u took the trade according to my trade plans.
#SB1! #SUGAR
Sugardirect entry with 0.33% on January 6th, which went to sleep on January 19th
now we await a possible bearish breakout confirmation figure
could it be a pennant?
SUGAR MARKET ANALYSEIts a small postion on the sugar market its clear vision of buyers volume entrance
Sugar : BullishSugar futures reacted off to a bullish rejection block on Weekly, creating a breaker+ on Daily. It'll be interesting to see how this plays out in next few weeks. Target is the liquidity up top of the range.
BEARISH ON THE US SUGARBearish clues:
- Triangle , breakdown with a strong bearish candlestick.
- Below the neutrality zone on the Relative Strength Index (RSI < 50).
- Breakdown of the 100 Exponential Moving Average , which was a good support.
- Breakdown of the Modified Pitchfork.
Fundamental news: (from Reuters)
- The supply minister of Egypt released on November 29, 2021 that " sugar reserves were sufficient for 3.5 months ".
- Looking further ahead, Rabobank expects raw sugar to average 20.80 cents in the third quarter of next year as the sugar market records a deficit of 2.3 million tonnes by the end of the 2021/22 season , following a deficit of 1.2 million tonnes in the 2020/21 season.
- Rabobank said ethanol prices will remain elevated on the back of strong global energy prices, tempting cane mills in top producer Brazil to produce more of the biofuel at the expense of sugar.
Objective:
My objective is the Fibonacci retracement level of 50%, at $17.69. Next objective is $16.98: support zone + Fibonacci retracement level of 38.2% + range of the Modified Pitchfork
ALWAYS WAIT FOR THE CLOSE OF THE CURRENT CANDLESTICK
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
Sugar Is silver was edible, it would be sugar! Check out the breakout for the 7 year rate of change.
