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

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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. 

 

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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

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