OrcChieftain

Sugar pierces resistance and retest with clear pin

Long
OANDA:SUGARUSD   CFD sur Sucre
I had daily resistance drawn from higher timeframes in dark blue on the same level 200 MA is. Sugar bounced from the level validating it - that is when I drew azure resistance over the dark blue as it becomes valid on hourly too. Eventually, it pierced through, did a quick retest and now it came back again forming nice tradeable pinbar.

I open long.

It is important to remember that seasonality points in the opposite direction. This is the trade with odds but should last a couple of days at most. I expect the price to build a new resistance and use it as a base to breach below my levels back again.

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.