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This is attempt number two at getting long sugar. My previous attempt proved premature, resulting in lost money.
My stop loss order put an end to that trade, and capped the amount of money I lost at a number that is reasonable to me. Today, I am reattempting to get positioned in sugar futures, as I am still of bullish sentiment in that market.
Entry occurred at 6:11, my time, at a price of 20.09. Entry was based on having observed and MACD divergence, and then having bought upon the first return to the moving average.
Observe the following 60 minute chart for March sugar futures demonstrating the swing trade.
The red lines in the above futures trading chart indicate the MACD divergence. The yellow arrow indicates a return to the moving average, implying value, as well as my entry point. As always, I have set a stop loss order to limit the amount of loss I may sustain.
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