Copper: Republishing my old forecast and new trade setup
Hi, I'd like to repost a private idea I had (I did post it in related ideas in my last retracement long idea for copper -which actually worked for the 1st entry before a massive turn south-).
We have a clear short opportunity as outlined by my friend Tom Killick (he does great coverage of copper and USDCLP, check in related ideas).
If we're offered with a retracement we can take these two entries for a low risk trade:
If not, I'll be forced to operate off the 4h or daily chart and jump on the trend in some other way...There's always a good excuse to join a trend, and if you don't have many, you will miss out on the best trades (many times they never come back to you once they leave the station).
Cheers,
Ivan Labrie.
We have a clear short opportunity as outlined by my friend Tom Killick (he does great coverage of copper and USDCLP, check in related ideas).
If we're offered with a retracement we can take these two entries for a low risk trade:
Cheers,
Ivan Labrie.
Kommentar:
En route. No way to enter without using lower timeframes though.
Kommentar:
Kommentar:
Trail stop to entry and hold!
Trail stop to entry and hold!
Trade wurde manuell geschlossen:
I reccomend covering the shorts for now.
USDCNH is in an 11 month downtrend, and has already exceeded the projected range twice...
There's no sign of it stopping any time soon, nor copper, and it's clear that the Shanghai index will follow suit.