Pull back within massive downtrend, but how high it can go?

ICEUSA:SB1!   Sugar #11
71 0 2
Brasil (major producer) is in huge trouble, so is the Sugar             itself! Of course crop can be blamed, but I think USDBRL             is one of the main driver here. So basically this can be another evidence how strong USD hurts commodity exporter EM countries, and causes a commodity price deflation through backloop.

This is one of the strongest and longest downtrend I have seen in my life, Price is down to levels not seen since 2008!
As you see there are minor or major pull backs within the big trend, and it looks one is starting now. I don't know how high it can shoot up, I only know it will depend a lot on USD weakness or stregth in short term.

- Still extremely bearish Ichimoku setup. Bearish supports are at 12,55 (Kijun) and 13,75 (future Senkou B and trendline )
- After price was dropping for 5 weeks, Heikin Ashi started to signal a possible local bottom, and start of consolidation.

- Ichimoku is bearish with support zone at 11,60-12,00
- Heikin Ashi signalled swing reversal and start of pull back.

Strategy is: 0,5 trade unit long for 11,60 initial tgt             , stop loss trailed with daily SAR             (10,38 right now.)
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out