Trading the trend: short NY #11 sugar
As NY #11 sugar has come off its long-term downtrend line, we would like to go short with a stop loss at 22.65, and a downside target in the 17.00 region.
(AI Video Summary)
Previous gold and US dollar basket trading outcomes
In this episode of "Trading the trend", Axel Rudolph reviews ongoing trades, emphasising strategic patience and stop loss importance. The video begins with the review of gold - a long position entered on 5 June at $2,333.00 per troy ounce - highlighting the current break through a downtrend, with new targets at $2,400.00 and $2,440.00.
A short trade on the US dollar basket entered at $104.85 remains active, sustained above its stop loss at April's high of $106.2.
This week's trading opportunity
New York #11 sugar futures, having been shortly stopped out, are again considered for a short position, with trends suggesting potential downward movement. Rudolph suggests setting a downside target at 17.00 with a stop loss above 22.65.
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