SUGARUSD trade ideas
SUGAR USD
Good Doji formation forming with Support line.
Another reason is that, the low of <--- has been taken out with a long wick.
Which might be seen as big institutional player clearing stop losses that might
be placed around that area before moving the prices up for best entry.
Looking at better price entry for 1:2 min Risk reward.
Seems like this week is a commodity play
Sugar long preferedA Bigger Price range is obvious and we are just sitting on the bottom right on the support zone which could offer a nice long entry after a certain price action signals .
Something like a break n close through a h4 flip zone here would give me confidence and confirmation to enter a long position .
A break of the 200 ma would also be a nice sign for me that we see some action in direction north.
Sell Sugar. 40% move opportunity1. Sugar seems to be completing 4th wave of the down move.
2. 4th wave has (slightly running) flat structure.
3. It looks on the chart and in particular on MACD that last 4-5 weeks it is incapable to move significantly up from the bottom of the range. It seems ready to break down.
4. Previous month volume spike on big red candle also supports the idea of selling sugar.
5. 5th wave target should be about 0.61 of 1-3 waves move calculated from the top of wave, therefore it is about $0.082, ie it is ~40% move.
Head and shoulder sweet sugarHead and shoulder sweet sugar. Personally i am not taking this trade, but some people could be interested
Waiting for the final buy signalNew chart here, showing the .618 1st target if the upward trend begins here....13964, at rising resistance line
Sweat sugar perfect long opportunitySweat sugar perfect long opportunity. High risk reward ratio. Strong support line
