Comments on the chart. The market has a way of faking a breakout and then turning tail and going the other way. So I am checking this one out
Note
Massive downmove has been seen. Market has not closed yet so we will see if this will settle like thisNote
Market closed with almost all the losses of thee day intact. Wave 5 down might be in play nowNote
Price roared back to life on friday after a devastating fall the day before. No technical damage has been done and I am still looking downwards until the most recent high has been taken out. Taking that high out will invalidate my idea that price is moving lower in an EW 5 move down to new lows.Note
Technical damage has been done on the chart. This idea is dead in the water. Will put up another idea on the next trade I see in sugar however I believe thee downside can still re-surface but in the meantime this upmove could be tradeable
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.