Copper Update: Take Heed At Current Price - Are We To Continue?
Traders
As you know, from my previous Copper idea, I went short. And so far, we have picked up a lot of points from this trade.
If any of you went short with me, well done, we did good. We now need to take heed at the current price level and see if it becomes new support for this commodities price. Current price could be support for the time being. Or, we could see continuation to longer term validation target at 2.05's.
I 100% expect 2.05's to be hit one day, but it may retrace off the support line on the chart first, pullback and then go down to expected level. OR, it could just continue and ignore this level and go to the downside. Even though upside from here doesn't look likely just from looking at price action, it is instrumental to take heed here to protect capital.
Best of luck traders,
Tom
Note: I offer face to face, and online personalised tuition to people who wish to become professional traders. For more details of these trading courses I offer, message me on here, or email me with the email address on my profile page. Thank you.
As you know, from my previous Copper idea, I went short. And so far, we have picked up a lot of points from this trade.
If any of you went short with me, well done, we did good. We now need to take heed at the current price level and see if it becomes new support for this commodities price. Current price could be support for the time being. Or, we could see continuation to longer term validation target at 2.05's.
I 100% expect 2.05's to be hit one day, but it may retrace off the support line on the chart first, pullback and then go down to expected level. OR, it could just continue and ignore this level and go to the downside. Even though upside from here doesn't look likely just from looking at price action, it is instrumental to take heed here to protect capital.
Best of luck traders,
Tom
Note: I offer face to face, and online personalised tuition to people who wish to become professional traders. For more details of these trading courses I offer, message me on here, or email me with the email address on my profile page. Thank you.
