SUGARUSD trade ideas
Sugar (SUGAR/USD) Daily Chart Analysis 10/1Commodity Analysis, Implications and Outlook
Sugar currently is stuck in a multi-year downtrend. Nevertheless, the decline to the long-term outer Sugar Dip $0.08955 area produces the potential for short to medium term bullish action. Following this bounce, we expect to see the Sugar market to continue the downtrend right up until extends to its historic new support.
Except for a strong bullish move, we predict Sugar to rally to the Key Resistance $0.108 4. At this stage, bears will more than likely declare their dominance and protect the downtrend resistance. The touch of the Key Resistance will set off the resumption of the downtrend...More
Sugar setting up!!Hello friends
Watch sugar here as it is pulling back from weekly kijun and resistance zone. What do we have:
-Kumo twist on daily
-Chikou above price
-Breakout with price pulling back
-Tenkan and Kijun rising
-Macd is crossed up
I am looking for long entry with target to highlighted resistance area above. near 0,15. Let's see how this one plays out.
Thank you for the read
BUY SUGARPros
Double bottom
First high low
Test of the last
Weakness of the dollar this week.
Above the uptrend on the weekly timeframe.
Bullish on longterm.
Correction of 38.2/50 of the last bearish wave.
Cons
The objective of the formation is too aggresive.
The commoditie index is at a resistance level + divergences.
Countertrend on daily timeframe.
Strategy
Buy when the price break the resistance level at 0.116.
I prefer to manage the stop dinamically, moving it to the last low, instead of wait for the whole TP. The position is too aggresive.