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pecpec
May 20, 2018 5:29 PM

BUY SUGAR Long

OANDA:SUGARUSD240
SugarOANDA

Description

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Pros
  • Double bottom
  • First high low
  • Test of the last
  • Weakness of the dollar this week.
  • Above the uptrend on the weekly timeframe.
  • Bullish on longterm.
  • Correction of 38.2/50 of the last bearish wave.

Cons
  • The objective of the formation is too aggresive.
  • The commoditie index is at a resistance level + divergences.
  • Countertrend on daily timeframe.

Strategy
  • Buy when the price break the resistance level at 0.116.
  • I prefer to manage the stop dinamically, moving it to the last low, instead of wait for the whole TP. The position is too aggresive.

Trade closed: target reached

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You can move the stop to 0.1204 to reach 0.1264, but i prefer to close all, it's risky.
Trend AnalysisTrend LinesDouble Top or BottombuySUGARDouble BottomCommodities
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