Not sure if you're into flipping Sugar LOL. I suspect sugar to go up this month and will be monitoring using the Daily Chart.
Entry - 0.1240
Take Profit - 0.1410
Stop Loss - 0.1140
I am not a fortune teller so take these predictions as pure entertainment. Trading has great risks so trade responsibly.
We might have long opportunity for the medium terme, It will be the (C) wave of the corrective structure (5-3-5) witch the Suger is going through since 09/2015,
I will be monitoring the (d) & (e) waves of the 5 wave structure (3-3-3-3-3) on the bottom, it could reverse the trend on medium terme for new bounce backup to the top of wave (A).
As you know, it was following a bearish channel, but consider the daily resistance line around 0.127, and the lower bullish trend line who prevented more fall of price for three times, & bad fundamental news from Brazil & India, I guess I`ll buy sugar soon-possibly after breaking the upper line of channel while moving averages confirm all this too (hopefully :)....
order block (purple area) held as support. sugar had strong rally off it and looks to be currently consolidating with a bull flag.
seasonal cycle also shows sugar bullish trend.
EMAs show bullish trend.
bearish market structure broke in July and currently showing bullish structure.
Sugar may deliver a bullish breakout soon. It already shows some early bullish signals at equilibrium.
- Ichimoku is neutral. It will tudn bullish if price spikes above Kumo, later you will have to monitor Senkou Span cross (Kumo twist) ahead, and Chikou/past candles cross as confirming signals.
- Heikin-Ashi may turn bullish. Green candle after price failed to...
- Ichimoku setup is bearish, as Price managed to climb back to Kumo, after testing very important long term horizontal key resistance at 12,55+. Now Price is located between Tenkan and Kijun lines (above Kijun), while Tenkna/Kijun is in weak bullish cross.
- Heikin-Ashi turned bearish after test of Kumo and 100wma.
- EWO is bullish. MACD is neutral
- Upper key...
Medium-long inversion over sugar
You can enter long with stop under 13.56
On SBV17 - Oct '17 contract
LONG since 30/06/17
Flat Under 13,563
SUGAR SBV17 - Oct '17
CROC X1 - Support / Resistance - Multiday (TF - 1H)
R3 = 17.34
R2 = 14.28
R1 = 13.89
PIVOT = 13.80
S1 = 13.71
S2 = 12.51
Fresh Demand levels in a range bound setup. Potential Retracement Zones.
-Always use a stop
-Trade only with money you can afford to lose
-Be open to multiple scenarios
-It's okay to be wrong about anything