This weekly chart shows that price action being rejected the 4th time at the 50% FIB level. Will it breakout on the 5th attempt?
On hindsight, we can see that 2016 was the bottom for Copper at 2.00 price zone before it charge up to current price of 3.07.
In the past, I would reprimand myself for missing this great opportunity! Not anymore, not being able to participate at the lowest point of 2.00 to capture the buy wave is not the most important. It is better to know where it is heading next and seize a good opportunity to buy that yields profit for one. In this case, wait patiently for it to retrace to 3.033 level and buy. There is two great profit targets that one can look forward to. One is 3.77 in 2013 and if that is surpassed, then we can look at 3.9 in 2013. By breaking down the steps we need to take, our buying approach become more rationale than one that is rule by our emotions or because a particular author said so.
I had learnt from past experience that nobody is responsible for your own profit/loss than yourself. If you make money by following someone, while partial credit may goes to him/her, it is also important to acknowledge your courage and commitment to take action to buy/sell. Conversely, one should also not blame the author for his or her views or a certain buy/sell order. It is important, very important for one to exercise own due diligence and know what they are doing.
Trade safely, if in doubt, stay away from the market. Study the price action, charts, piece the news you read to the movement and see if it make sense. Be patient, allow yourself to make mistakes (lots of it) and learn from it as well. Overly critical of oneself is not a good way to release one's own potential. Yes, money is important , losing is never fun , in fact it is painful (I know how it feels) but having the faith that one can make decent profits from the market and work towards it in the long term is crucial.
Believe in yourself, you are better than what others think of you !
On hindsight, we can see that 2016 was the bottom for Copper at 2.00 price zone before it charge up to current price of 3.07.
In the past, I would reprimand myself for missing this great opportunity! Not anymore, not being able to participate at the lowest point of 2.00 to capture the buy wave is not the most important. It is better to know where it is heading next and seize a good opportunity to buy that yields profit for one. In this case, wait patiently for it to retrace to 3.033 level and buy. There is two great profit targets that one can look forward to. One is 3.77 in 2013 and if that is surpassed, then we can look at 3.9 in 2013. By breaking down the steps we need to take, our buying approach become more rationale than one that is rule by our emotions or because a particular author said so.
I had learnt from past experience that nobody is responsible for your own profit/loss than yourself. If you make money by following someone, while partial credit may goes to him/her, it is also important to acknowledge your courage and commitment to take action to buy/sell. Conversely, one should also not blame the author for his or her views or a certain buy/sell order. It is important, very important for one to exercise own due diligence and know what they are doing.
Trade safely, if in doubt, stay away from the market. Study the price action, charts, piece the news you read to the movement and see if it make sense. Be patient, allow yourself to make mistakes (lots of it) and learn from it as well. Overly critical of oneself is not a good way to release one's own potential. Yes, money is important , losing is never fun , in fact it is painful (I know how it feels) but having the faith that one can make decent profits from the market and work towards it in the long term is crucial.
Believe in yourself, you are better than what others think of you !
Comment:
congrats to those who follow
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thank you mr market
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Comment:
take some profits off the table or move your stop loss level . It is now reaching the critical resistance level , ie. 50% FIB level.
good luck
good luck