SUGARUSD trade ideas
SUGARUSD Long Set-upSugar to the USD 4hourly chart, -price 0.11194 is interesting, something happened there, it so unclear.
With monitoring it would have to be followed on Heiking Ashi. Would you like some bullish Sugar :)
SugarUsd -Bullish interests.
SUGARDaily: Breakout from Consolidation, and fundamentally: The Virus out break has pulled down sugar supply and transportation from milling over the last 15 days and the sugar stock in the wholesale and retail market is understood to have been sold in the last couple of weeks.
1hr: sells at 0.11185 Tp 0.10
Sugar Long term trade on Weekly chartCall No. 29 Sugar Shortsell @ 14.00 Stoploss @ 16.00 Target @ 10.00 RR 1:2
Note : All calls has RR more than 1:2. Do not risk more than 1% of equity on every call. Please follow stoploss religiously.
Sugar: A Possible EW Count Says It Is going To Lose ValueComments on the chart.
Forgot to mention the following:
The indicator has turned down
The c wave is showing indecision around the previous wave 4 which supports this count
So long, sweet sugar. (Well... "So Short" more like it!)Wait for confirmation below that fib, but see the targets attached. Straight forward set up. I love it.
SUGARUSD - Can't break resistanceMultiple rejections at resistance, i except a drop to the 'BuyZone'
- not financial advice -
Sugar down to .1246 , Temporarily ShortLooking like the RSI got up there on the longer time frames, MACD rolling down on the 4hr. Blow off top formation? We have support and strong volume profile at around .1246- .1295 . Please do not confuse my ammature speculation with professional trading advice.
Sugar most likely going downKey resistance level reached on a longer timeframe and overextension to the upside = Short opertunity
Very Good RR
SUGAR Long OpportunityI'm actively monitoring Sugar for a long opportunity if price breaks as shown.
Will update if I get in :)
SUGAR US Time to start shorting Sugar, or just an ascending triangle that price consolidates in before it breaks up to higher prices?
RSI gives signals of exhaustion for the bulls and four signs of bearish divergence, obviously we have been up trending for a while now and is only reasonable for RSI to fall from overbought to neutral levels, the four last peaks on price though do not carry much buy volume failing to break higher.Same time line of demand points upwards creating an ascending triangle which means there are still buyers keen to buy on higher levels and that is a bullish sign .
Watching the way we break out of this ascending triangle will be the answer to this, Taking a small short position here and see how this trend will play out .
SUGARUSD - betting on longI'm not trading these assets frequently, but are nice from technical perspective.
I expect it to break above current resistance and go to 0.15 area before it will cool down. Daily MACD is not looking promising, but RSI is warming up. From weekly perspective, MACD is OK and RSI is running flat in the overbought area. Nevertheless, weekly close above 0.134 would signal to enter on any pullback on smaller timeframes and aim for 0.15-ish.
There is a hidden divergence on 4h chart, if someone is in scalping mode :)
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Long Term Prospects for SUGARUSDThe SUGARUSD is in a correction of a long-term Bear Market with price trading above the 50 week ema, but below the 200 and 800 week emas. The 50 week ema is currently trending upwards slightly, though the long term emas are mostly flat, signaling accumulation/distribution. The price action appears to be finishing up the third of five waves up, coming against prior resistance, so a pullback is likely. Since this is a c-wave it should sharp and short in duration.
The Market is in a Bear Market rally on the daily, with price above the 50 ema which is above the 200 ema, but still below the 800 ema. Price is currently testing the 800 ema with the a-wave top a little above that at .13333. Both are levels the third wave of this c-wave could pull back from in a fourth wave. A measured move upwards for this c-wave would take price to 0.14178.
The Market is in a Bull Market on the 4 hour, with price above the 50 ema, which is above the 200 ema, which is above the 800 ema. Price would have to close below 0.13090 to be considered in an correction. The price action looks like it is getting ready to burst upwards to 0.13333 over the New Years week.
There is an opportunity here to short against overhead resistance when a top formation appears. The longer term opportunity is to buy the bottom formation from an upcoming pullback for a powerful up move to complete the c-wave.
This is my SUGARUSD look ahead for my own trading purposes. FUTURES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
Sugar - Bull FlagExpecting bullish movement till end of November.
Used a Fibonacci Circle to anticipate target.
