SUGAR Front month long tradesugar front month is on a tear and looks like an abcd pattern but also looks like the bottom of the downtrend. i woujld long this for as long as i can
YO1! trade ideas
Sugar Is MAD! Time to calm down, but just for a bit! After a huge sell-off it is time for the sugar to shine. We have a big 1 week candle and huge 1 month candle so far. But as it grew so fast and furious it needs to calm down a bit. I am proposing a trade based on RSI and closing top of the channel and 13$ . In the upcoming week we will move in the area of 12-13 $.
Short: 12.7 - 13 area (I have opened a short, and open another one if we go up)
Stop Loss 13.1
Target1 11.8$. Target 2: 11.5$
Timeframe - 1-2 weeks . We will keep the big monthly green candle!
When we hot 11.8 I will go green for chasing the 15$ next month!
Good luck!
Sugar turned out to be a beautiful trade..Sugar 2 days ago hit bottom. This was a good opportunity to take it long.
Entry: $10.07 (23/08)
Exit: $10.31(24/08)
Return: 2.3%
