Sugar Raw - CashShort
SUGARUSD Bearish ShortTrading Analysis
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 mention that the support is a crucial zone of interest. As it could reverse or keeping it's bearishness due to it's heavy many spikes of volume.
A parallel channel has formed. I would place a sell limit in it's latest order block as seen in the picture, also to mention that there are many inside bar candles in this order block which can be used efficiently for the right trade, in this scenario shorting.
A nice 650+ pip move if all goes as speculated.
- David van Delden
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 mention that the support is a crucial zone of interest. As it could reverse or keeping it's bearishness due to it's heavy many spikes of volume.
A parallel channel has formed. I would place a sell limit in it's latest order block as seen in the picture, also to mention that there are many inside bar candles in this order block which can be used efficiently for the right trade, in this scenario shorting.
A nice 650+ pip move if all goes as speculated.
- David van Delden
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.