SugarUSD - ABCD Harmonic At SupportABCD harmonic pattern at area of support. I will be looking at the shorter time frame charts for further entry signals.
SUGARUSD trade ideas
Possible long for sugarSugarusd posible long
1) heikin ashi losing its steam and soon might turn in to green
2) TDI indicator oversold and starts to point up
3) Stochastic confirms oversold and points up
Enter trade when candles turn to green, TDI green line crosses red and keep until candles will flat or turn red again.
Strong support from 2016. Possible bounce to 18.20-19.20
Sugar - going longDear Traders,
Expect the sugar to come long. I expect it to hit the upper trendline and break it but watch out, it could go one more down.
Happy tradings all.
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.
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
