Technical Trading: Fresh Buy Signal in Uptrend – Columns
January 7, 2021
3 1 minute read
Thursday, 07/01/2021 08:55
of René Wolfram
| Views: 116
The sugar price reached a new annual high yesterday. This generated a procyclical follow-up buy signal, which is supported by the Intermarkets. The specific trade and which product I am trading with is shown in the following short video: youtu.be/InK_SUx19y0
BULLISH | What looks good
Intermarkets (including currency development)
Trend intact
New high
BEARISH | What doesn’t look good
STRATEGY & CONCLUSION
With breakouts like this one can work with a sensible and at the same time tight stop, which in this case is USD 15.55 (in the sugar price itself!). Trading here is a 5-fold leveraged Turbo Warrant Open End.
LEVEL | Pay attention to these brands
$ 16.35 | Above this mark follow-up buy signal
$ 19.00 / Potential target
CERTIFICATE | With this certificate, the trade could be implemented. NOTE! The setup is valid for today.
Sugar Long WKN VP8RE3 EUR 2.41 | Market / cheapest Order valid for the day (07.01.2021) EUR 1.50 | Stop loss
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René Wolfram, born in 1977, began trading on the stock exchange during his high school graduation. While studying business administration, he was already a self-employed trader, and in the years that followed he specialized in trading derivative financial instruments and futures. For this he developed his own trading strategies and rules in self-study. Wolfram was strongly influenced by the approach of the trading legend Larry Williams, who won the trading world championship in 1987 and holds a world performance record to this day. In 2013 Wolfram won one of the top three places in the renowned real money competition. With a performance of 52.3% he was the first German ever to finish third in the World Trading Championship.
His trading approach is fundamentally and statistically shaped, but also has technical elements. Traders can track their full-time trading transparently in the RealMoneyTrader live trading room and follow every trade live. Commodities, currencies, indices and bonds are traded there. On his website www.realmoneytrader.com It also provides helpful information for traders in the form of articles, videos and free training.
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