TomProTrader

#USDCLP: Expecting Shorts For The Longer Term #Copper #Forex

FX_IDC:USDCLP   U.S. DOLLAR / CHILEAN PESO
88 5 5
Traders

With USDCLP             showing bearish intention at this very moment, and the idea that it is showing a rounding appearance, suggests to me that this correction may be a longer term correction, and we can use this for not only a short term profit maker, but a longer term investment also for longer term profits.

We can use USDCLP             moves with my favorite correlation, which is Copper             . We can short USDCLP             against longing Copper             , but timing is key. This correlation is not ready to go yet, and in my professional opinion we want to see what happens with USDCLP             when it retests the upside at the 50MA. If it fails and comes down, it means in terms of cycles, USDCLP             is most probably looking for its mean price, and I expect that will cause a critical correction and will be strong and very profitable. I also think, the gravity             of the move will force Copper             from it's hump and into the light, with an up move, well earned, after a massive long term down move we have seen.

Best of luck,
Tom

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+1 Reply
IvanLabrie PRO IvanLabrie
Cheers mate, I raise my glass. Great chart.
Reply
Cheers mate
Reply
Nice, very valid this is.
Reply
IvanLabrie PRO TomProTrader
;)

I'm glad we're on a similar page, as usual.

There was an alarming number of dollar bulls recently...:)
+1 Reply
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