sugar trade. 10yr nat gas and facebook
Sugar : weekly charts - look to be in the last stages of a big zig zag for a wave 2 ending at or close to 16.00 cents. 16 cents is where wave A = wave C
Daily charts( sugar) - have a breakdown out of a triangle w4 that should be ending somewhere around the 19.50 area to conclude a w5, (short term.)
(No position yet. )
10yr note looks to be breaking down nicely . still holding short as w2 may have ended. will be watching for the w3 set up to add to positions on breaks of fib numbers .
Natural Gas - Is still in the zone for a 1,2 1,2 with the w3 starting back on the rally from 260 level. a close higher today will set up a w3 higher on the 60 min chart . . there is however a possibility we are looking at w2 zig zag on the 60 min chart ending at or near 270 . Premium bought yesterday @ 297.5 on nov contract and will wait to see if we have a strong close today to add positions to set up the w3.
(Price obj is a full upward w3 ending at or near 4.37)
Facebook - may have put in a bottom for now . price obj for longs are 30-33 if my count is correct
good trading
CK