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SUGAR is approaching strong resistance in blue from Weekly (0.17-0.18) so we will be looking for sell setups on lower timeframes.
on H1: SUGAR formed a channel in red but it is not ready to go yet. We want the sellers to prove that they are taking over by breaking below the last low.
Trigger => Waiting for that swing to form and then sell after a momentum candle close below it (gray zone)
Until the sell is activated, SUGAR would be overall bullish and can still trade higher till around 0.18
And of course, as SUGAR approaches our lower brown trendline, we will be looking for trend-following buy setups.
Good luck!
~Rich
SUGAR is approaching strong resistance in blue from Weekly (0.17-0.18) so we will be looking for sell setups on lower timeframes.
on H1: SUGAR formed a channel in red but it is not ready to go yet. We want the sellers to prove that they are taking over by breaking below the last low.
Trigger => Waiting for that swing to form and then sell after a momentum candle close below it (gray zone)
Until the sell is activated, SUGAR would be overall bullish and can still trade higher till around 0.18
And of course, as SUGAR approaches our lower brown trendline, we will be looking for trend-following buy setups.
Good luck!
~Rich
This analysis is done using RichTL
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal