Been a while since i shared publicly other commodity calls dont wanna overstock my profile with ideas
that said sugar prices are testing my zone while producing lower lows and candles are getting weaker towards the zone
In the last 3 trading days, the strong trend brought up Sugar to challenge the diagonal trend line. Eventually it went down yesterday and therefore it is believed to be an excellent short opportunity. Target max = $25.2
As I was taking another look at Sugar, I realized that a bull flag (my previous analysis) is now out of the question and a symmetrical triangle has now broken down. The initial measured move target was hit about a week after the breakdown occurred and price has just pulled back to a horizontal resistance area just below the triangle. This area has now been...
After breaking out of an expanding triangle (not shown on chart), Sugar has had a massive run to the upside. A bull flag pattern has formed and pricehas just testedand rejected flag support along with a horizontal support level. I like this instrument to upside and decided to open a small position here just before the week's close (bullish engulfing pattern at...
Im short on macro time on SUGAR, just look at this chart...more timefrime means more accuracy so this is looking overbought so, i think the next step will be a distribution and after a corection
SUGAR RAWUSD
Bearish trend forming for Sugar Commodity
We are seeing a Elliot 5 pattern way theory occurring as well on the 2-3 hour charts.
But most importantly sugar is spiraling down towards a major support level. Clearly the uptrend has broken it's trend line with a fake cat bounce/retest making it definite the reversal has occurred.
FIB LEVELS also...
Please use the position tool to guide your entry and/or exit into the position. I will update the idea whenever necessary. Look forward to more profitable trading signals. Happy trading: You're welcome!
Positive Confluence Factors... (14)
1. LTF and HTF direction in alignment? ✅
2. At edge of HTF structure (in green zone)? ✅
3. HTF candlestick confirmation? ✅
4. Trade setup visible on multiple time frames? ✅
5. Break out of structure and a break back in present? ✅
6. Near miss present (below price if looking to get short, or above price if looking to get...
After a decade Sugar is now ready for the breakout move. A simple trade with great risk-reward.
Soon we will be hearing many complaints about food inflation.
Price boost and upward momentum on Raw Sugar, after India declared that a downward revision on its sugar cane crush. Being the second largest manufacturer of sugar in the world, this news had a positive effect on the price of the raw material.
Both MACD and RSI are confirming the current trend. If it continues, the price might reach levels of 25.539
As a pivot...
• If price corrects and a tight one hour flag forms, then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
• If price pushes up above our rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which...
• If price pushes up to and ideally just above our first area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If price impulses down below our second area of value, it...
• If price impulses down below our area of value, it does so in a convincing manner and a subsequent tight one hour flag forms, then I'll be looking to get short with a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If...
Raw sugar prices raises as Oil prices raises and manufacturers prefer producing ethanol over sugar. Next resistance at the mentioned level then a bull back or correction is most likely to happen. Oil has to fill the huge gap and that might be the time.
