Sugar/USD - sweet bullish signals - good risk/reward ratioThe sugar price has broken the old trend line and with that the old bearish trend. I have drawn the new trend line which should be followed by an 1-2-3-4-5 Elliot Wave if the new trend line does not brake within the next week.
50D moving average has given strong bullish signals.
RSI & Stochastic RSI are both bullish and have a lot of space to grow.
MACD is giving small bearish signals but still no crossing of the two important base lines (orange and blue lines).
Bollinger bands reached downside, rebounce to the upside should follow soon.
I entered the market yesterday at 0,118 and set my take profit at 0,156. As soon as the price reach 0,135 (and brake this resistance) I will move my stop loss up to 1,129
