SUGARUSD trade ideas
Sugar Double Bottom?Sugar formed a possible double bottom indicating a trend reversal, fib based TP @ 50%
Would match a negative correlation with oil sometimes seen with sugar
Sugar long scalp onlyBullish div on the 1H and 4H. Should see a pop for this C wave to complete the running flat. This is a scalp only. GL!
SUGAR LongSugar hit a support level and in my opinion, it is up from here. Market may retrace down a bit more or justgo up from here. Enter and exit at your own risk.
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk
Sugar: Interesting uptrend here...I'm monitoring $SUGARUSD here for a weekly and daily long entry on retrace -if it ever comes-, otherwise paying up for it might be worth it, given how strong the chart looks. Could sharply rise from this juncture immediately after the market opens too.
The targets on chart are the weekly range targets, corresponding to a Time@Mode signal active as long as we hold over 0.1236. The daily has a bullish trend as well, which kicked in on Friday. Entering at market or on dips would be a viable trade.
Best of luck,
Ivan Labrie.
Sugar: End of 8 waves sequence- 5th wave structureElliott Wave Count:
Impulse, w1 - w2 - w3 - w4 - w5
Counter trend (abc) zigzag pattern
Finalising a 8 Wave Sequence
sugar/usd short term setupOn the weekly I see a strong down trend and on the daily, I see support turning into resistance as well so that indicates bearish movement.
On the 4hr chart, I see price get towards that resistance line and I drew up a resistance zone from the previous high and noticed it might make a double top. I am looking to go short at that moment in time.
Entry, Stop loss and Take profit are all added.
Bullish break?I'm short right now but if it manages to brake out of trend in either of the marked triangles i will go long. If it fails now there will probably be a significant dump before it rises by late february.
$SB - Sweet double bottom?Sugar has some bullish bias.
Weekly:
- Ichimoku neutral, but price is very close to cloud top, a bullish breakout could easily happen. Supports: 0,1217 and 0,1157.
- A close above 0,1315 would confirm both a bullish Kumo breakout and a major double bottom. In this case space would open to 0,18 target (appr. +40 % upside)
Daily:
- Buy signal after price touched Kijun Sen.
- Setup is bullish, a higher high above 0,1315 would accelerate the move.
If you chek the price action back to 2016, you can see once it starts trending, it moves very quickly. Keep an eye on it.
SUGARUSDSugar will go up, but buy as low as you can..Will be following this idea closely in the coming weeks .
Nice set up to go long Sugar (SUGARUSD)Sugar has broken the 2 years down trend from Sept 2016 and now accumulating to prepare for a next move. It's also according with the rising of commodities and dollar weakness recently. We can go long Sugar now aim a short-term target at 0.145, stop loss at 0.113
Sugar - short trade - heavy overbought on 1H Sugar is after yesterdays small rally heavy overbought on 1H chart and nearly heavy overbought on 2H and 4H which is an signal for an following correction.
I try to trade the correction with tight stop loss above 0.126 - take profit at 0.1188
POSSIBLE SHORT SETUP?Sugar looks to be forming a short setup due to double-top and indecision around ichimoku cloud. Short setup is not yet confirmed as market has not given a clear direction as of yet but this is one to keep a close eye on for drop to targets identified by yellow lines in chart.
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DISCLAIMER;
Do set stop losses when trading but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident traders.
All comments and questions welcome, if curious about indicators I use then feel free to inquire.
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