Anyone familiar with the Commitment of Traders Report knows that the commercials have reached an extreme range that leaves much room for rising prices. Added to this is that the chart image with the recently formed double bottom looks bullish.
This is what a trade might look like:
- Entry immediately
- Stop Loss below the last local low
- Take profit with multiple exits (scaling out) first profit taking at $875
This is what a trade might look like:
- Entry immediately
- Stop Loss below the last local low
- Take profit with multiple exits (scaling out) first profit taking at $875