The Safest Place To Buy!

In a recent Issue of the Trading Tutors Newsletter I wrote about a pending movement in the New York Sugar # 11 (SB) contract based upon a 30 Year Cycle. As you would well imagine I have been closely following the Sugar # 11 contract over the past weeks.

All articles that I have written that involve some kind of hint of where the market may be looking to head I have emphasised the importance of ensuring any trading relating to a forecast, is done using solid trading rules.

In the Smarter Starter Pack, David quotes from W.D. Gann when he says that the ‘safest’ place to buy is the first higher bottom. When Gann refers to the first higher bottom he is referring to a Swing bottom. The ABC method of trading closely relates to this statement from Gann, however David has added the additional condition that Point B must be above the previous swing top. This ensures that the trade taken on confirmation of a higher Swing bottom is always in the direction of the daily trend on the Swing Chart.

In Chart 1, I have an up-to-date picture of the weekly Sugar # 11 contract. It is with some degree of personal delight that I share this picture with you. The recent weekly Swing tops and bottoms have been marked with dashes. You will also see that the ABC Pressure Points Tool has been applied to a recent bear range and shows the influence of the 50% milestone.

As you will see this week’s market action has confirmed a higher Swing bottom and a perfect signal to enter the market. This higher Swing bottom is following a higher Swing top and the weekly trend is now officially up.

A few traders I have spoken to this week have still not subscribed to the World Futures data and are unable to watch this market and others that provide awesome opportunities for profit. The decision not to subscribe is on the basis that they want trading profits to pay for any further expenses. Can you afford not to be receiving this data is another way of looking at it. I’ll be sure to give you further updates as this story unfolds.

Until next week......

Noel Campbell