Jump to content
Sign in to follow this  

Sugar - London No.5 - Potential Trade Idea - TrendFollower and Jim Rodgers

Recommended Posts

To me it seems like Sugar London No.5 is trading range bound, at least for now. 

It also seems like we about to see if 'Triple Bottom'

In case anyone has not come across a 'Triple Bottom' then it can be at times a bullish chart pattern (not always) which is shown by three roughly equal lows followed by a breakout which is above the resistance level. As someone who follows 'Trend Following' principles I would not look to initiate a 'Long' trade based on this though I fully appreciate others on the IG Community who have different trading styles may wish to consider it. 

If the breakout happens and the price action forms a confirmed trend then I would certainly consider entering a 'Long' trade but not until then. For me there are still better trading opportunities elsewhere. For short term day traders and swing traders which range bound activity may suit their trading style. 

 

Share this post


Link to post

Since Jim Rodgers has given his interview on IG, I have been monitoring the price of Sugar. For me if anything a trader would have profited if they had 'shorted' Sugar after the interview rather than either trade it on the 'long' side or even invest in it. 

712496996_LondonSugarNo.5_20190721_10_01.png.a081278176720c7d7edcdb2ef9587a50.png

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      7,424
    • Total Posts
      37,735
    • Total Members
      47,707
    Newest Member
    CHL
    Joined 18/09/19 15:56
  • Posts

    • yes they will be on less charts but I understand your point about the size of the moves in ftse, no harm in trialing them though you might find marking out the immediate prior high and low has more relevance.  
    • Yeah, I keep an eye on volume, that's why it's showing at the bottom of my chart However, I haven't been able to discover a strong relation between volume spikes and trend direction. Sometimes I see orders of the magnitude of 10-20k and the chart doesn't do anything special. Other times you see just average volume and the chart does huge turnarounds. For example what happened at 8.30 with that spike down and then going straight back up and making new highs vs previous candle? All happened on low volume
    • @jameswalker1 my recommendation is trade the demo account to get a better understanding of the costs associated. I traded demo for nearly 2 years before placing my first real trade. It will save you in the long run to get a better understanding of the costs involved.
×
×