BEWARE IMPORTANT COPPER PRICE LEVEL - HG1! - COPPER - DAILY
Thank you for your likes and comments! Really appreciated! This is an idea about Copper price, not a financial advice.
___________________________________________________________________________________________________
The HG1! Copper Futures have been continuously rising... almost a year.
We realized that summer is coming and that this market have been beating all the selling power trying to bring it down of slower it>
How long is it going to last?
The blue lines represent the channel that the price is following. Being at the top of this channel and seeing a possible strong signal of a pullback, the probability of seeing the market profile change has risen.
The volume involved where huge but will it again beat it and keep going up further?
The next step down is probably at the dotted red horizontal line. Some other "super volumes" interventions happened in that past at that price level.
For a day traders, this is probably something to keep an eye on> For a longer term trader, lowering the exposition is probably smart at this price level. Reentering step by step after this level is passed or when the deep happens.
___________________________________________________________________________________________________
The HG1! Copper Futures have been continuously rising... almost a year.
We realized that summer is coming and that this market have been beating all the selling power trying to bring it down of slower it>
How long is it going to last?
The blue lines represent the channel that the price is following. Being at the top of this channel and seeing a possible strong signal of a pullback, the probability of seeing the market profile change has risen.
The volume involved where huge but will it again beat it and keep going up further?
The next step down is probably at the dotted red horizontal line. Some other "super volumes" interventions happened in that past at that price level.
For a day traders, this is probably something to keep an eye on> For a longer term trader, lowering the exposition is probably smart at this price level. Reentering step by step after this level is passed or when the deep happens.