I'm not trading these assets frequently, but are nice from technical perspective.
I expect it to break above current resistance and go to 0.15 area before it will cool down. Daily MACD is not looking promising, but RSI is warming up. From weekly perspective, MACD is OK and RSI is running flat in the overbought area. Nevertheless, weekly close above 0.134 would...
Hey traders, this is the update for the Sugar trade that I am still currently in.
Looks like price has come back up to the green trend line before reversing.
Looking left we see that price reached this exact area before, creating a potential double top pattern.
If you did not enter before, now would be a great time with a risk to reward of 3.
If price can...
Sugar has just broken out of a falling wedge pattern which could also be bullish flag. Nothing too complex, but I marked out where any divergences have played out coupled with the RSI > 65 signalling intermediate tops. I think sugar has anywhere from 5 to 10 percent to go up before marking another intermediate top.
For this trade, use the CANE ETF. I would...
Sugar came up to test the upper green trendline before price reversed.
Price then retraced to the 61.8 Fib Level before moving back down.
It looks like the bears are in control for now, and Sugar should continue to push lower as October comes to an end.
Daily trade analysis and ideas:
Sugar is trying to hold onto the trend channel.
We are currently in a very volatile process.
You can wait for this week's closing. (Friday)
Since I deem it appropriate for risk / reward ratio, I suggested a position like this:
Target : 0.12764
Hello Traders, SUGAR/USD 0.12052 VS 0.12668.
Looking for Yellow: a Break and continuation / corrective / Consolidation Pattern at 0.12546 / 0.12668
To Continue the upside movent towards 0.13120 / 0.3372.
Or Blue: Possible Completion Consolidation /Continuation / Corrective Pattern 0.12546
to Retest / Break previous Lows once more 0.12052 / 0.12080 towards...