Unless you are tracking a particular product , forex, futures, commodities,etc for that matter,
it may be hard to monitor so many charts at the same time.
Timing the market , i.e. knowing when to get in at the lowest and selling at the maximum profits has remain much of an illusive art of trading to many of us. Of course, some traders are excellent in spotting while others like me tend to get it occasionally.
Over the years, I have discovered, it is more important to buy a commodity ,stock, futures, forex, etc that is trending than being ecstatic on catching the bottom. There are charts that can stay at the bottom for many moons before it does anything, if it does. So, do yourself a favour and not be so hard on yourself if you are not able to. Leave that to others, no big deal.
Looking at this chart, we can see once again there is support and buying up at 2.498 to 2.5605. Of course, if you had caught it at this price range, then you are in profits now. Congrats! But , like me, if you have not, then the 2nd buying opportunity may be just round the corner, even before Christmas.
The price action has closed above 2.7545 but has met some resistance at the bearish trend line at 2.763. Let's wait for a few more days to see how it performs. Would there be a false breakout, forcing the price to goes beneath the trend line once more ? Or would it go as I indicate on the chart ?
Other than chart analysis, I get some confidence boosters from these articles :
www.mining.com/coppe...-high-china-imports/
economictimes.i...ow/70950185.cms?from=mdr
So without going too in-depth, we can see that if China is the biggest buyer of Copper , then we can infer that the demand of copper would continue in the next few years for China. They need it for their infrastructure projects and storage is dwindling in their warehouse. Supply side at Chile is also affected due to heavy rain this year.
Do the math - high demand, restrained supply, price has to go UP.
Let's see if my prediction is right in a few months time. Trade safely
it may be hard to monitor so many charts at the same time.
Timing the market , i.e. knowing when to get in at the lowest and selling at the maximum profits has remain much of an illusive art of trading to many of us. Of course, some traders are excellent in spotting while others like me tend to get it occasionally.
Over the years, I have discovered, it is more important to buy a commodity ,stock, futures, forex, etc that is trending than being ecstatic on catching the bottom. There are charts that can stay at the bottom for many moons before it does anything, if it does. So, do yourself a favour and not be so hard on yourself if you are not able to. Leave that to others, no big deal.
Looking at this chart, we can see once again there is support and buying up at 2.498 to 2.5605. Of course, if you had caught it at this price range, then you are in profits now. Congrats! But , like me, if you have not, then the 2nd buying opportunity may be just round the corner, even before Christmas.
The price action has closed above 2.7545 but has met some resistance at the bearish trend line at 2.763. Let's wait for a few more days to see how it performs. Would there be a false breakout, forcing the price to goes beneath the trend line once more ? Or would it go as I indicate on the chart ?
Other than chart analysis, I get some confidence boosters from these articles :
www.mining.com/coppe...-high-china-imports/
economictimes.i...ow/70950185.cms?from=mdr
So without going too in-depth, we can see that if China is the biggest buyer of Copper , then we can infer that the demand of copper would continue in the next few years for China. They need it for their infrastructure projects and storage is dwindling in their warehouse. Supply side at Chile is also affected due to heavy rain this year.
Do the math - high demand, restrained supply, price has to go UP.
Let's see if my prediction is right in a few months time. Trade safely
Comment:
Praise Lord. It has gone the way we wanted. Now it is sitting on 2.8025, we are adding more longs for this .
Comment:
You can wait for 2.8505 , the neckline to be broken out before buying or add now if you are more risk-taking. The last candle (still forming) shows the price action is well supported at 2.7545. If it stays that way, then it is clear bulls are pushing the price back up
Comment:
Praise Lord. The market offers us plenty of opportunities if we are patient enough and take action when it comes. After one month, the price make a loop and return back to the support level at 2.7545. Today is accumulation day if you keen to get some Copper in your portfolio
Comment:
While the media is blasting the news about recent commodities up rising, we were blessed to get in early and ride up this monstrous bull run. Praise God
Comment:
Never gonna give you up.......never gonna let you down...........
Please note that we probably will face some profit taking as the price action has met with some resistance at current level.
Depending on your time horizon , you may take some profits or all. Congratulations once more!!!