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seemikelau
Jun 22, 2023 5:55 AM

Sugar didn't breakthrough after strong trend up last week Short

Sugar Cash ContractPepperstone

Description

In the last 3 trading days, the strong trend brought up Sugar to challenge the diagonal trend line. Eventually it went down yesterday and therefore it is believed to be an excellent short opportunity. Target max = $25.2

Trade active

Parallel channel proved work but the rebound went too sharp yesterday. Not suggest to buy unless the win-loss ratio is high enough.
Comments
politrikz
hi, is it time to buy slowly?
seemikelau
@politrikz, I am observing if it will be rebounding at US$22.5 which is the intersection of Fit-retrace 0.618 and bottom of channel.
seemikelau
@politrikz, let’s see if renounce will happen at 22.5
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