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 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 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 ...
The sugar price is following the new bullish trend line. I have drawn the new trend line which should be followed by an 1-2-3-4-5 Elliot wave (you can see the full Elliot wave in my first sugar analysis from November 26) if the new trend line does not brake within the next weeks.
50D moving average is delivering still strong bullish signals.
RSI & MACD are both ...
Price have broken above downward trendline. Double bottom formed on WEEKLY timeframe with break above. Double bot formed on daily aswell with RSI signs for bulls having control. Will see how it goes. Good Luck
OANDA:SUGARUSD formed downwards channel after breaking through resistance, expecting to continue channel downwards
Please use this information as part of an informed decision from multiple sources to execute a trade
The tarif war between USA and China and the FED interest rate hikes made the price of commodities very cheap during 2018 and i'm expecting a reversal of thisfor 2019.
We are at the end of the year and all the fundamentales are pushing for end of the trade war and the Fed is going to be neutral next month, in fact tomorrow will be the 1st day of the ...