FX:COPPER   CFDs on Copper
315 0 3
The 4 hr             move is looking corrective for the most part on the bigger picture. There was a strong impulsive move up and the AO is indicating momentum is still strong. I am suggesting a possible pullback to the green daily trend line and then a another strong impulsive move for the X-Z or a more shallow correction indicating a break of the daily trend line and more down may be on the horizon.
A strong and close breakout of the purple 1 hr             TL and I would expect more up to the 230 mark.
So in a nutshell I will trade the fib if price action gets there or I will trade the breakout of the 1 hr             up or the daily down.

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Comment: This one is getting a bit messy around the 1 hr TL. It may pull back before going higher. I would look for a strong break and close above the TL breaking the high before going long. The .618 fib is still in play.

Happy pip hunting.
Comment: This correction is looking like a possible regular flat. If it is I will look to take this long within about 5% above or below the pivot low at 2.2.
Trade active: Trade was activated as per the last update. You are supposed to keep to your trade plan but in this case I am moving my stop to BE. The reason is one of the best traders here shows a short for this commodity and he is not often wrong.
Comment: Trade closed at BE. I will be looking to re-enter if another buy set up appears.
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