I'm new here and haven't yet had time to study THT techniques, but maybe my comments will give somebody a chance to enlighten me.
I'm looking at an Oct Sugar #11 chart at futures.tradingcharts.com, and I see that Sugar at close of Sep 14 had moved up out of congestion (support at about 1140) the day before, and on the 14th dropped back from 1240 to close at 1216. I suppose that Rob was looking for a 50% pullback to get in, which would be at 1190. He ordered to buy at 1193 limit so's to give it some slack (about $34 per contract), and the stop, reasonably placed 3 below the 1140 support also allowed about $34 slack.
I don't know how Rob arrived at a target of 1294 (can't find obvious resistance), unless it was based on a percentage retracement level, using the July 6 high of 1725 and the recent lows around 1140. I see that his most optimistic target, for example would represent a retracement of (1435 - 1140) / (1725 - 1140) = 0.50 (50%).
If he were to have bought at 1193 and sold at 1294, the profit would have been $1131. For that he was willing to risk $627, which would make this a high risk trade, being a less-than 2:1 reward:risk ratio. On the other hand, he was looking at a fair possibility of a profit of $2710 (4:1), so maybe the trade would have made sense, what with moving averages turning up and RSI up. I'm thinking, though, that the recent relatively large drop in open interest was indicating that the recent price increases were due to short covering and not due to a significant influx of bullish sentiment. (Not that I would necessarily have noticed at the time !)