We were wrong in our analysis of Sugar previously, expecting it to correct with a H&S pattern before rebounding.
It simply defy logic and continues to charge higher so we added more at 14.36 where it find some temporary support.
If nothing goes wrong, then we can expect it to continue to revisit the high of 15.38 on 18 Feb 20. So, for those who missed our earlier calls to long Sugar at 12+, I would suggest you not to come onboard now.
Chasing high price just to take revenge of a missed opportunity is NEVER a good strategy as the risk reward ratio is not great to begin with and also , the chances of a correction is getting higher as it goes higher.
Remember, in trading/investment, leaves your egoes aside and strictly see from the logical point of view. I know, it's easier said than done. Afterall, without the emotions of greed and fear, there probably would not be profits and losses as well......
It simply defy logic and continues to charge higher so we added more at 14.36 where it find some temporary support.
If nothing goes wrong, then we can expect it to continue to revisit the high of 15.38 on 18 Feb 20. So, for those who missed our earlier calls to long Sugar at 12+, I would suggest you not to come onboard now.
Chasing high price just to take revenge of a missed opportunity is NEVER a good strategy as the risk reward ratio is not great to begin with and also , the chances of a correction is getting higher as it goes higher.
Remember, in trading/investment, leaves your egoes aside and strictly see from the logical point of view. I know, it's easier said than done. Afterall, without the emotions of greed and fear, there probably would not be profits and losses as well......
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the closing candle is a dragon fly doji pattern which means the potential upside still remains.
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15 dollar is a strong resistance area.....
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praise the lord, finally it cleared and is moving higher..
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praise God
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Those who are patient and followed my trade call last year would be happy to know their commodities are doing well.
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when will I add more ? when the resistance at 19.84 is broken....
