So the good news, for the last 2 years i've made great money with my general perception and hypothesis.... Bad News... My entries have been terrible so on several occasions, I'm early. Ride a torturous move the wrong way, but with patience and tactical averaging get my profit eventually (2-4 weeks).... But if i could just tighten up those entries to more optimal timing, my profits would easily be 3x-5x what i've achieved. That is what I'm working on for rest of year.
For Copper, I believe in my downtrend channel. I am NOT an uber-Bear and don't see a return to $2 copper... but i'm comfortable with this chart and have initiated a Small Short... Might get another May1st spike over Channel which i would SHORT more at... My exit is 2.45ish.... OR a confirmed and sustained break of my channel...
I'm short the HGU17 Sept. Contract @ $2.6 so i have plenty of room if this does drift against me in very short-term.
Good Trading All!
For Copper, I believe in my downtrend channel. I am NOT an uber-Bear and don't see a return to $2 copper... but i'm comfortable with this chart and have initiated a Small Short... Might get another May1st spike over Channel which i would SHORT more at... My exit is 2.45ish.... OR a confirmed and sustained break of my channel...
I'm short the HGU17 Sept. Contract @ $2.6 so i have plenty of room if this does drift against me in very short-term.
Good Trading All!
Trade active:
So the day after my short, there was an intra-day spike down that hit the 20day Moving Avg (BB Baseline). To run to that support so quickly, i closed my short for a nice profit. I've re-engaged a smaller short position per my original thesis.