Market Curiosity: Exploring Markets And Systems

September 24, 2012

Sugar – looking to go long due to COT, historical price support and short term NR7 + 15% (update 2, Sep 24)

Filed under: +06 to +25%, Futures Trades — Tags: , — Jeff Fitzmyers @ 5:00 pm

September 11, 2012
The COT is bullish.

In a bullish position historically testing the 2006 peak at 20.

October sugar has a nice weekly pattern.

But it’s too close to first notice day. So onto March 2013 sugar. The weekly has a huge triangle.

The daily has
EDIT: Opps! This is for October. The trade is for March.
+ NR7 = buy stop at 19.65. (Actually 20.28 for March 2013) Stop loss near 19.20.
+ Good volume the past 3 days, but this might be an artifact from rolling over contracts.
– Just had 3 up days.
– Medium term RSI might need one more dip down.

Update September 17, 2012: Moving a partial profit sell stop up to near today’s low of 20.61 and the other half’s stop loss is slightly less than break even near 20.19.

Update September 24, 2012: Stopped out +15%

Similar stops for comparison.

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