Copper: Uptrend signal, nice reminder by Tom Killick

FX:COPPER   Copper
445 2 20
I had a downtrend signal in my past chart, which has hit target.
When this happens, we can usually expect a reversal or retracement from it, and it's what is happening here.

Copper: Longterm decline spotted

We have a strong base for a rally, and a potential retracement entry, which if triggered can be a good way to tackle this rally. Props to my mate Tom Killick, his last chart is in related ideas. We often have similar views, his material is definitely worth             a look if you're not familiar with him.

I'm offering two entry prices for this rally, if not filled, we will have to find a different entry point.
If filled, we can close partially at the first target and aim for the second one with a trailing stop.
Also, there's a possibility of retesting the downtrend's starting point at 2.36 (see related ideas, "Copper: Longterm decline spotted").

Comment: We won't get retrace entry it seems...too bad.
Comment: Shot up, the target will be hit rather fast, this is great news for my AUDUSD long.
Comment: The 2nd target is a retest of 2.35, it could even go higher, so brace yourselves.
Comment: Asia looks like a bottom...

Comment: Copper moving nicely, we might see a rally today.
Comment: After today's close we can project a buy stop entry to join this rally.
Comment: Copper, so strong...
Comment: The timeframe for this one is weekly for sure...same as AUDUSD.
It is by any means cheaper than before but Australian will sell this copper to which countries???
+1 Reply
China mostly.
+1 Reply
United States
United Kingdom
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