Following yesterday's idea (pls see below for link) and after engaging a few long orders today sugar turned long as we expected.
The uptrend is now stronger than before (see the two green lines) and the price is currently at a critical level.
At this level we can do two things:
1) increase our trailing stop losses to a new level (I suggest you consult the ATR indicator for that),
2) consider taking some profits (TP1 on chart).
My hope is that there is more to expect from our dear sugar and get the full potential up to the TP2 point (I put a long order next to it so you can see the potential).
However we have to be cautious and monitor closely price movement as markets are there to surprise us.
As long as the +DI and the -DI don't "kiss" and the ADX remains at around 40-50 then my hope has pretty good chances of materializing.
Good luck traders.
Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become a better trader.
The uptrend is now stronger than before (see the two green lines) and the price is currently at a critical level.
At this level we can do two things:
1) increase our trailing stop losses to a new level (I suggest you consult the ATR indicator for that),
2) consider taking some profits (TP1 on chart).
My hope is that there is more to expect from our dear sugar and get the full potential up to the TP2 point (I put a long order next to it so you can see the potential).
However we have to be cautious and monitor closely price movement as markets are there to surprise us.
As long as the +DI and the -DI don't "kiss" and the ADX remains at around 40-50 then my hope has pretty good chances of materializing.
Good luck traders.
Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become a better trader.
