I'm monitoring $SUGARUSD here for a weekly and daily long entry on retrace -if it ever comes-, otherwise paying up for it might be worth it, given how strong the chart looks. Could sharply rise from this juncture immediately after the market opens too.
The targets on chart are the weekly range targets, corresponding to a Time@Mode signal active as long as we hold...
On the weekly I see a strong down trend and on the daily, I see support turning into resistance as well so that indicates bearish movement.
On the 4hr chart, I see price get towards that resistance line and I drew up a resistance zone from the previous high and noticed it might make a double top. I am looking to go short at that moment in time.
Entry, Stop loss...
I'm short right now but if it manages to brake out of trend in either of the marked triangles i will go long. If it fails now there will probably be a significant dump before it rises by late february.
Sugar has some bullish bias.
- Ichimoku neutral, but price is very close to cloud top, a bullish breakout could easily happen. Supports: 0,1217 and 0,1157.
- A close above 0,1315 would confirm both a bullish Kumo breakout and a major double bottom. In this case space would open to 0,18 target (appr. +40 % upside)
- Buy signal after price touched...
Sugar looks to be forming a short setup due to double-top and indecision around ichimoku cloud. Short setup is not yet confirmed as market has not given a clear direction as of yet but this is one to keep a close eye on for drop to targets identified by yellow lines in chart.
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Sugar is after yesterdays small rally heavy overbought on 1H chart and nearly heavy overbought on 2H and 4H which is an signal for an following correction.
I try to trade the correction with tight stop loss above 0.126 - take profit at 0.1188
Sugar has broken the 2 years down trend from Sept 2016 and now accumulating to prepare for a next move. It's also according with the rising of commodities and dollar weakness recently. We can go long Sugar now aim a short-term target at 0.145, stop loss at 0.113
No. I never get tired of being right.
That stuffy and redigeminted way of trading that I constantly see in charts and so-called indicators are the PAST!
Markets are in need of an upgrade. A modernization! The Djinn are here to flip trading UPSIDE DOWN! In all markets. In the same way that NWA revolutionized modern music.
Any trading platform too...