SugarRejection at support zone with a pin bar last Friday.
Possible bounce next week to test 0.1950, at least. Potential R is less than 2 if buying at break on pin bar high. A tempting trade nonetheless.
SUGARUSD trade ideas
SUGAR AB=CD PATTERN We have AB=CD pattern in development as a ABC corrective structure.
I expect next wave to terminartes near 0.15500 level.
Bullish for SugarHere's a possible count for Sugar showing that it may be embarking on a 5th wave with more upside to come.
Sugar Could Break down Notice, Daily chart exhibits a substantial H&S pattern. If the daily neck-line is broken sugar prices could drop significantly from here.
Daily:
Notice the monthly impulse targets a retracement at the same length of the daily H&S pattern.
Multi-Month/Twenty Year Chart:
Sugar May Complete a Bearish Bat PatternI will look for confluence with indicators at the entry point -- as of now if price continues to rise from here to the completion point I will take this trade.
SUGAR, DAY CHART, SHORT (18-FEB-2017)There is a consolidation pattern near the
Resistance Zone.
From the price action, we can see stronger
selling pressure than buying pressure.
If the price managed to break the buyers' stop loss
level, we expect the price will fall further lower.
Here are 2 trading plans for you:
1. Wait the price to break the buyers' Stop Loss level
and entry
2. If the price pull back weakly to the resistance zone,
it might be a good opportunity to short with bearish
signal
buyuptrend...
after almost a month correction it seems gugar has started going up with a big bullish candle ...
buy
SHORT TERM SELL SETUPWe have a triangle pattern in development on lower timeframe.
It would be a good idea to sell on breakout.
