SUGAR is clearly bullish on 4h-D-W time frames.
On the monthly time frame we expect at some point (mid-term I would say) to retrace back to the Fib 0.382 level.
The COT (Commitment of Traders) outlook of the institutions for the week of SEP 29 supports the bullish trend as net positions increased to 248.345 compared to 234.659 of the week before that. Volume clearly shows that as well.
So total reversal is not in-sight at least to me at the moment. More likely as mentioned above a retracement to the level of the Fib 0.382 for profit taking like with the other two times measured and indicated on the chart.
As for my strategy at the moment is to stay on the side and wait price to come to the potential entry area and then take a long position looking for 300-350 pip gains.
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.
On the monthly time frame we expect at some point (mid-term I would say) to retrace back to the Fib 0.382 level.
The COT (Commitment of Traders) outlook of the institutions for the week of SEP 29 supports the bullish trend as net positions increased to 248.345 compared to 234.659 of the week before that. Volume clearly shows that as well.
So total reversal is not in-sight at least to me at the moment. More likely as mentioned above a retracement to the level of the Fib 0.382 for profit taking like with the other two times measured and indicated on the chart.
As for my strategy at the moment is to stay on the side and wait price to come to the potential entry area and then take a long position looking for 300-350 pip gains.
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.
