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I had daily resistance drawn from higher timeframes in dark blue on the same level 200 MA is. Sugar bounced from the level validating it - that is when I drew azure resistance over the dark blue as it becomes valid on hourly too. Eventually, it pierced through, did a quick retest and now it came back again forming nice tradeable pinbar .
I open long.
It is important to remember that seasonality points in the opposite direction. This is the trade with odds but should last a couple of days at most. I expect the price to build a new resistance and use it as a base to breach below my levels back again.
I open long.
It is important to remember that seasonality points in the opposite direction. This is the trade with odds but should last a couple of days at most. I expect the price to build a new resistance and use it as a base to breach below my levels back again.
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