- Evidence of converging channel, now on upwards trend (bottom of channel, therefore minimal risk!)
- RSI below 50 (historically, RSI for sugar at this point has been followed by a very bearish outlook)
- Bearish candle pattern identified
• If price corrects and a larger three touch one hour flag forms, then I'll be looking to get short with 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.
Price may fall down to the 18.809 area before turning bullish to 20.436. A note for the 18.240 as a potential maximum that the bear's momentum can reach.
Patience is required for the bears to clear out. For that reason, the overall trend is neutral.
selling may come around 20.40-20.46. if crosses this level further upmove till 20.85, in short term consolidation here / profit booking can come at this level , above this level good to go for 24.
short below 19.50 or take sl of this level
#FOOD #SUGAR
Cheap sugar is only in our dreams.
At the moment, the accumulation phase is nearing its end. The technical figure "flag" begins to be traced, the exit of the market from which, according to the canon, should take place upwards.
The first target will be the resistance level ~24.
Its breakdown will send futures with a high degree of probability to...
Let's start with observing 2W chart, here we can see that:
1) price has been grinding across the trendline, which acted as resistance
2) following rejection at the resistance, we had a move down to ~0.174 range which formed a strong support
3) If the week closes at 0.18335 or higher, we have an official breakout from this sub-structure and impulse should take it...
Seasonal lines call for bullish turn from WD-TH this week. For details write a private message to get a reference to comprehencive cycle analysis. Expected bullish development is going to proceed till the middle of Oct.
This is really a terrible trade, but I'm posting it anyway. High Risk SUGARUSD $SUGARUSD Initial Long. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
Sugar has been trading within a large rising channel for almost a year. After recently testing and confirming channel support, price has rebounded and we're just about halfway up the channel. A falling window (gap down) served as resistance on the way down to support and has also temporary stalled the current rally.
Now, after a strong daily close above the...
Sugar is used in food, beverage, and in biofuel production, and its importance in global trade gives it a strong position in the commodity futures market. The price of sugar has surged 17% since the beginning of January 2021.
Reduced Brazil production
Sugar prices have recently been affected by production levels in Brazil, a key sugarcane producer and...
#Sugar short reasoning. Bearish divergence. After fomo bar literally no follow up, if it did eith very low demand trapping bulls along the way. Little effort on down move by seller. Genuine supply. It has a high probability of breaking down, any meaningful support next is at 0.15
Let's eat candy while watching sugar prices)
* None of what i write here is not an investment advice. Please do your own research before investing in any digital asset.
* Never take my personal opinions as investment advice, you may lose your money.
![SUGARUSD: SUGARUSD [Entry Price 0.20084]](https://s3.tradingview.com/l/l1yEruZu_mid.png "SUGARUSD [Entry Price 0.20084]")
