Hey traders, this is the update for the Sugar trade that I am still currently in.
Looks like price has come back up to the green trend line before reversing.
Looking left we see that price reached this exact area before, creating a potential double top pattern.
If you did not enter before, now would be a great time with a risk to reward of 3.
If price can break the neckline bears will be in full control.
The moving averages are also looking like a bearish cross soon on the MACD.
Daily trade analysis and ideas:
Telegram: t.me/Forexdojo
Facebook: www.facebook.com/FXShinobi
Twitter: forex_dojo
Instagram: www.instagram.com/jaylen.forex/
Website: www.forexshinobi.com
Tiktok: @forexshinobi
ForexShinobi
Looks like price has come back up to the green trend line before reversing.
Looking left we see that price reached this exact area before, creating a potential double top pattern.
If you did not enter before, now would be a great time with a risk to reward of 3.
If price can break the neckline bears will be in full control.
The moving averages are also looking like a bearish cross soon on the MACD.
Daily trade analysis and ideas:
Telegram: t.me/Forexdojo
Facebook: www.facebook.com/FXShinobi
Twitter: forex_dojo
Instagram: www.instagram.com/jaylen.forex/
Website: www.forexshinobi.com
Tiktok: @forexshinobi
ForexShinobi
