BULL ANALYSIS (Wyckoff Reaccumulation) - COPPER (HG1!) - 1D
WHAT WE HAVE
WHAT I THINK
One of the best view we can see here for a reaccumulation and continuation setup. This isn't a signal for entry on market for the moment but here we have the context.
Should we expect a spring ? No, I don't think so, volumes decrease during all the reaccumulation, furthermore creek have been already jumped. So I will more expect a retest of the creek support. With a signal in it, it should be a nice entry spot, but if you prefer wait for a spring and doesn't happen, don't jump in market desperately. You will have to wait signal on the last point of support after SOS like I will do if we don't have signal around the creek support. It's always frustrating to buy the top of the range but it's always better to enter in a strategy pattern than on emotional reaction.
What should we target if plans happens ? First target should be the top of the monthly channel with profit taking. Before that always secure your losses to breakeven. If you enter around creek support or on a spring, it's important to be breakeven at the moment you see the SOS appears (it's not fool to take profit on it too). Market can always reject the price and go down again to the support or even worse go for a more deep consolidation. After that, if we reach the top of the channel : if you see short signals on it, close your position ; if we break it, just let run your profits to higher targets.
Macro economically we have a good setup to see the materials sector growth, we are in an up trend on every higher timeframe, we have continuation pattern, stars are aligned to see nice move in this way.
Like I say frequently : "Making money in trading is math and respect of strategy, so never let your emotions guide you in uncomfortable positions". Here we have probabilities and strategy so don't let your emotions guide you and follow your plans.
PS : Apologize for my english, I do my best. I wish you all success you need for 2022, on every side !
- Daily Wyckoff Reaccumulation pattern
- Monthly / weekly linear up trend
- Bull monthly channel (waiting for contact with resistance)
WHAT I THINK
One of the best view we can see here for a reaccumulation and continuation setup. This isn't a signal for entry on market for the moment but here we have the context.
Should we expect a spring ? No, I don't think so, volumes decrease during all the reaccumulation, furthermore creek have been already jumped. So I will more expect a retest of the creek support. With a signal in it, it should be a nice entry spot, but if you prefer wait for a spring and doesn't happen, don't jump in market desperately. You will have to wait signal on the last point of support after SOS like I will do if we don't have signal around the creek support. It's always frustrating to buy the top of the range but it's always better to enter in a strategy pattern than on emotional reaction.
What should we target if plans happens ? First target should be the top of the monthly channel with profit taking. Before that always secure your losses to breakeven. If you enter around creek support or on a spring, it's important to be breakeven at the moment you see the SOS appears (it's not fool to take profit on it too). Market can always reject the price and go down again to the support or even worse go for a more deep consolidation. After that, if we reach the top of the channel : if you see short signals on it, close your position ; if we break it, just let run your profits to higher targets.
Macro economically we have a good setup to see the materials sector growth, we are in an up trend on every higher timeframe, we have continuation pattern, stars are aligned to see nice move in this way.
Like I say frequently : "Making money in trading is math and respect of strategy, so never let your emotions guide you in uncomfortable positions". Here we have probabilities and strategy so don't let your emotions guide you and follow your plans.
PS : Apologize for my english, I do my best. I wish you all success you need for 2022, on every side !
Update will be made in an other idea to show the entry I made.