Opinion:
As oil prices increase, crop rotations kick-in favoring Wheat production where the climate is appropriate. Price of agricultural goods is affected by increased transport prices and crop production space rotations. I expect all agricultural produces prices to increase significantly in the coming months. Including sugar. TP1 looks attractive.
This is not...
Oh Sugar!
I know most of us do not trade this pair, but I have managed to make so good trades from this commodity so far. I think you guys should check it out. As for commodity, I only trade Silver and Sugar. I would like to trade Gold but the lot size requirement is not for me as at now.
Anyways, this pair has been bullish and has hit the monthly high, it is...
expecting a strong move higher in wave 3, on the other side and as alternate count the move lower than 18.945 will let us expect a big flat pattern in wave 2.
Sugar has no place to go but up. Look at my golden lines, replicate them on your chart and go to the monthly timeframe. Look left and see the beauty of multi timeframe analysis.
Anyways, we don't control the market but I remain bullish till the market says otherwise.
What's your own view on sugar???
Sugar hasn't moved much in the commodity space but it looks like that's about to change
The quarterly chart is especially interesting as it's been bull flagging above a key historical level - the 18 cent mark, which also corresponds with the 50 week moving average support - so there's your risk perfectly defined. You could also argue it's flagging outside of a...
Look for this to move higher shortly or will it correct some more? I think we have another wave (V) up to complete this wave. But there is some bearish divergence building up on the RSI
So I think there is another corrective wave (C) down to form a running or expanding flat
After the retest of the Trend Line, Enter a Long Position at the closing price of the retest candlestick at 0.19536. Next, place the stop loss beneath EMA 20 Close Price 0.19441. Set Take Profit at 0.19916 and 0.20072.
Shorted some sugar, based one previous resistance and top of rising wedge, will keep SL tight. Look for retest of lows as indicated
* Prices shown in this chart is based on OANDA, price might differ from the product traded and brokers. However the underlying principles are the same
