The yellow shaded zone was widened to indicate (1) a jump off point from the base/consolidation into a price territory where the price of sugar
started stalling. Also the top of the rectangle
shows where some sellers started to press down. This is not technically a series of lower highs yet, meaning on every rally they sell but the pattern is emerging. I included exponential moving averages in a ribbon format to show where I think the selling pressure might be exhausted, and it is within ticks of my overall target. This is subject to revision if I notice any moment of strength. Sugar
is not weak in the trend overall but the height measuring tool suggest a slight pullback would be in order
The other aspect of this trade that is good is that the ratio of risk to reward is good given the amount of risk you are willing to take.