- rsi oversold
- price deviated from 20 ema
- retrace expected
- approaching key level of support
- T1 at .382 fib and T2 at .618 with sl trailing till .382 as overall trend on weekly chart bias is bearish
- sl is reasonably large so recommend downsizing position to take this trade set up
Thanks for your little request and sorry for late reply.
Here is our analysis about sugar. For rising prices in Sugar indicates the following aspects:
increasing trend line
CoT report of the Non Commercials
current support at 13,70
GBPCAD is forming a monthly bullish engulf for the month of September. This candle formation is forming right around a highly significant level of support/resistance. will look for an entry around the 50% retacement of September candle after close above key level. targets are -27 fib extension and next monthly level of resistance.
There is a bullish flag formation, supported by the price above a bullish 200 MA and a break of the rising trend channel. This is all supportive of an upward price move. The risk reward ratio is at 9:1 with stop loss just under the lower channel of the flag. I don't see GBP strength against the USD, rather USD weakness against the GBP (see DXY). Trend is up, the...
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After a clear rally, Gold finally reached the support again. Almost every gold trader has the level of 1,300 on the screen and in this area, there is an enormous number of orders, on the one hand stops for all traders that are already long positioned, but also pending orders for long trades. In addition, the level of 1,300 hits the 38 Fibonacci level. Every...
I spotted a fib retracement that hit the 50% retracement line and bounced off. Its headed towards Target 1 on the fib retracement 0.6
I then spotted my previous completed harmonic. We have already hit the 0.3 target so we are prob headed for the 0.6 target.
Target 1 is about 100 pips and target 2 about 200-odd