Technician
Short

Copper Decision Time! Trade

COMEX:HG1!   Copper Futures
824 3 12
Copper             has been pushing lower to the support of this monthly descending triangle , the breakout of the triangle was confirmed last week. The projected target for the pattern is near the 2.00 mark also near the main rising trend line .

I am suggesting two possible trades, one in the near term, on the right hand side daily chart , and the other on the Monthly chart for a longer term price projections. Hope it goes well.

Best of luck. Join me at https://twitter.com/thefxchannel
Also at my Facebook             page http://www.thefxchannel.com
My best regards,
Technician

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
I teach my experience conclusions in 10+ trading strategies. PM me for details and cost.
Some trades might need some time and fortunately this was a great one
+1 Reply
Short trade reached target. Longer term in process..
+1 Reply
As you have suggested on the M chart the descending triangle could breakdown to 2.000 I see the monthly 200 period average in copper would be a good support and that would place the target at maybe 2.200~2.400
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