Clicky

SGG Swing Trade Setup & Entry

SGG (Sugar ETN) will be added as an Active Long Swing Trade at current levels following the recent bullish pennant continuation pattern on Friday with SGG backtesting the top of the pennant on the pullback so far today. That pattern was highlighted last week as a bull flag pattern but zooming down to a 120-minute time frame, it appears to be a bullish pennant continuation pattern, a close cousin of the bull flag pattern.

Price targets are T1 at 30.96, T2 at 31.84 & T3 at 32.96. The maximum suggested stop is any move below 28.25 & a suggested beta-adjusted position size of 1.10. Sugar can also be traded via /SB, Sugar #11 futures contracts.

0
2017-07-10T10:02:30+00:00Jul 10, 2017 10:02am|Categories: Completed Trades - Long, Gold & Commodities|Tags: |1 Comment

One Comment

  1. rsotc July 11, 2017 9:56 am at 9:56 am

    SGG stopped out. Will post an update & move it to the Complete Trades category asap.

    0

Comments are closed.