Over the previous weeks, Hawkeye has identified great trading opportunities in Stocks, Forex, Futures and Commodities. Today, we want to look specifically at the Coffee and Sugar futures markets, with a particular focus on how Hawkeye Volume shows identifies volume accumulation prior to the explosive breakouts in both of these markets.
From Chart 1 below, just look at the power of accumulating volume and the price breakout. The first two cyan arrows (drawn for illustration only) are showing accumulating volume. The third cyan arrow shows volume absorption, and the explosive breakout to the upside.
Chart 1 - Coffee Daily
From the Sugar Daily Chart 2 below, we see the same phase of the market as coffee showed prior to its price move. Both cyan arrows show volume accumulation. Wait for the Sugar Weekly chart to confirm a price move with green (buying) volume and the heatmap turning dark or bright green.
Chart 2 - Sugar Daily
Note: the cyan arrows are placed for illustration only, and are not part of the software.
Accumulation volume is a great sign of future price action. The Hawkeye Volume indicator shows this with great accuracy. See how Hawkeye Volume indicates a break-out to the upside. As we stated here last week, this market is providing a great trading opportunity. Patience has it's reward.