Taking a long sugar trade. Grains, in general, are well bid and DBA is another class you should look into. The fundamentals are backing up the technicals here. Key reasons for this trade:
1. Chikou is above price on daily.
2. Daily Kumo and kijun provided support on price pullback and today was a sharp reversal day.
3. Weekly macd is crossing up and Price action is between TK and KS.
4. Weekly Kumo is thin and flat and should give way soon.
5. Very good RR here. Choose your contract wisely depending on your time frame of trade.
Let's see how this one plays out.
1. Chikou is above price on daily.
2. Daily Kumo and kijun provided support on price pullback and today was a sharp reversal day.
3. Weekly macd is crossing up and Price action is between TK and KS.
4. Weekly Kumo is thin and flat and should give way soon.
5. Very good RR here. Choose your contract wisely depending on your time frame of trade.
Let's see how this one plays out.