Sugar and not only

This is a discussion on Sugar and not only within the Commodities & Money Markets forums, part of the Markets category; Sugar has eventually shaped its waves form. Now we wait for a complete five waves down. Chart below. We assume ...

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Old Aug 10, 2017, 3:59pm   #9
Joined Jan 2017
Sugar, probable five waves down.

Sugar has eventually shaped its waves form. Now we wait for a complete five waves down. Chart below.
Click the image to open in full size.
We assume current rise as a correctional wave (4), after wave (4) sugar should continue its fall with the
final move down - wave (5). This market is offering some SELL opportunity - to SELL sugar at the end of wave (4),
to HOLD this SELL all wave (5) down and to CLOSE at the end of wave (5).
Let us make some assumptions about the form and price targets for wave (4).
Click the image to open in full size.
First is an initial triangle, suggesting the whole form of wave (4) as a zigzag A-B-C. Deep pullback in probable wave B helps us to define first wave boundaries. We can wait for a next upward move in wave C, as usual ends of waves [b] and [d] serve us as price targets, because any reverse move tries to retrace ending triangle.
SELL setup: wait for a wave C end in a target space, SELL in target space and HOLD all wave (5) down, close SELL 1 point below wave (3) bottom.
As usual we track sugar and all other markets daily.
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