I am worried about my long sugar trade. Entered upon few considerations especially momentum and previous 5 months up move and consolidation along with failure to take last week low on weekly and subsequent reaction. Need to see how market opens on Monday night. So far everything looked like possible trend reversal but who knows. Let's see.
arigoldman posted: I think it's all guesswork now.
Yes, it is messy. I need to look for better easier opportunities for now. I am short eurusd. Situation so far is also unclear but if it drops even to previous lows... I won't talk about parity still it would worth the risk.
I fighting burnng desire to close my sugar long outright. I hate when trade is not going as I expected. May be will take small loss. Or can close half position outright than watching how things will go and if it continues going against me I can close the rest. On the other hand, if that 0.1390-0.1400 level is taken to upside again I can add back closed half. It is complicated. But I hate taking full losses. Made number of mistakes this week around cad. it was fortunate I did realize what was going on in time and closed all my positions outright. cost me a bit but otherwise I would lose 4-5%. so far, it is 1000 cuts. small losers. Now the most important is to properly manage winners and cut losers short. I am short all grains. having doubts about corn cause unlike beans and wheat it is still in the range. But , considering all grains are coming down logic has been corn should follow. I can close it today just to reduce possible risk a bit and free some margin for some other trades.
fter the pattern archived: as I mention the last post- the pattern suggests the bullish trend, for the coming trading sessions, pointing that the prices creating a possible bullish pattern that its confirmation wti level situated at 39-40 $, from looking at the charts we can see also the resistance at 42-43 area This pattern also suggests some corrections after reaching the target. Breaking down 36.20 followed by 35.10 levels will send the crude oil to cope with 33-34 $
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