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SUGARUSD trade ideas

SUGARUSD - More sweetness to it?Following yesterday's idea (pls see below for link) and after engaging a few long orders today sugar turned long as we expected. The uptrend is now stronger than before (see the two green lines) and the price is currently at a critical level. At this level we can do two things: 1) increase our trailing stop losses to a new level (I suggest you consult the ATR indicator for that), 2) consider taking some profits (TP1 on chart). My hope is that there is more to expect from our dear sugar and get the full potential up to the TP2 point (I put a long order next to it so you can see the potential). However we have to be cautious and monitor closely price movement as markets are there to surprise us. As long as the +DI and the -DI don't "kiss" and the ADX remains at around 40-50 then my hope has pretty good chances of materializing. Good luck traders. Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become a better trader.
OANDA:SUGARUSD
by A_Bouras
SUGARUSD - As sweet as it gets?Sugar a few minutes ago reached the expected level I was refering to in my previous idea. The trend in bullish although we have a strong pullback just now. The COT data metioned on the chart supports further climb (unless something happened in the meantime that we still don't know about). As usual nothing is certain in the markets. So as I see it with the data we have now Sugar will continue its climb respecting the 50MA as it did before. This is the reason why I engaged my first buy orders and keep monitoring the price action for further moves. Good luck traders Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become a better trader.
OANDA:SUGARUSDLong
by A_Bouras
SUGARUSD - Going up, where to enterSUGAR is clearly bullish on 4h-D-W time frames. On the monthly time frame we expect at some point (mid-term I would say) to retrace back to the Fib 0.382 level. The COT (Commitment of Traders) outlook of the institutions for the week of SEP 29 supports the bullish trend as net positions increased to 248.345 compared to 234.659 of the week before that. Volume clearly shows that as well. So total reversal is not in-sight at least to me at the moment. More likely as mentioned above a retracement to the level of the Fib 0.382 for profit taking like with the other two times measured and indicated on the chart. As for my strategy at the moment is to stay on the side and wait price to come to the potential entry area and then take a long position looking for 300-350 pip gains. Good luck Traders. Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become a better trader.
OANDA:SUGARUSDLong
by A_Bouras
Sugar pierces resistance and retest with clear pinI 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.
OANDA:SUGARUSDLong
by OrcChieftain
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