vlad.adrian
Long

Copper - Long after correction

COMEX:HG1!   COPPER FUTURES
202 4 5
I have had a bullish bias on copper             for some time, check the linked chart. After a false break below 3.0000, things looked good for copper             , and a small uptrend emerged. Now, this uptrend is correcting, and it seems like the correction is ending, and bearish momentum fading. The problem is that around 3.000, there is a strong resistance area , and placing a stop is tricky, and I have no answer for that, I would just go with my gut. Another option would be to wait for a strong day, and place the stop below this swing low. If my account would allow me, I would buy a very small quantity of copper             right now, and then add when there is a strong day.

The weekly chart is forming another bullish divergence , but for now there is no confirmation, so the weekly is in stand by mode.
snapshot
alexeyhoroshunvk
2 years ago
Good day! You still in short on copper?
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alexeyhoroshunvk
2 years ago
I am sorry in long offcourse?
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vlad.adrian PRO alexeyhoroshunvk
2 years ago
Yes, my bias is still bullish. I can't actually trade copper because the contract is too big for my tiny account. I am long FCX, which is well correlated with copper
FCX - another bullish signal
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alexeyhoroshunvk
2 years ago
O, ok. Thanks you!))
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