The market has entered the previous supply zone and will this supply zone still work?
The answer may be positive.The price has stopped soaring and a structure is forming.
So it may be a good opprtunity to sell short at 2.190-2.20 levels.
SL:above 2.20
TP1:2.15
TP2:2.10 and further more
Copper has been in a consolidating triangle pattern, since late last year and we now just broke out, which targets upwards to 2.50 then 2.90. With the USDOLLAR at a major area selling off then boosting metals this makes sense. A long with a stop below 2.18 is sufficient. Let's see if we get a big move soon.
Hello traders!
As you probably noticed Copper broke out the asymmetrical triangle started back in June 2016, also crossing the 200 EMA. Given the strong momentum I think it's possible that price will raise higher and retest the previous swing high reaced in mid July. Of course there's a possibility of false breakout, in that case I think price will go back to...
New bounce on annual support.
Copper bounced back again to the important annual dynamic support.
This raw material is returned back into the price squeeze.
It is priced in dollars, will definitely important to see his reaction to the Fed meeting on November 2 and the US presidential election.
These two events could lead to breakout of the triangular figure,...
Potential bullish BAT pattern is forming and the previous neat srtucture looks like firm.The RSI has entered the oversold zone at the same time.
So it is a good chance to open long position at 2.07-2.09 levels.
SL:below 2.06
TP1:2.13
TP2:2.15
AUDUSD has a very bullish long term, intermediate term, and short term chart.
We can add to our core positions, if we make a new daily high. We can also take a short term trade once that happens, with a tight stop at the previous daily bar's close. Target is roughly 0.77 for the short term position, and over 0.8350 for the long term entries.
Long term positions...
We have an interesting spread between copper and oil, with the ratio chart showing signs of outperformance in Copper, relative to Oil today. We might be at a local bottom for this ratio, which paves the way for AUDCAD longs, as well as trading Copper and Oil futures/CFDs as a pair, going long Copper, whilst simultaneously going short Oil.
This is a very...
Pretty obvious continuation pattern (bearish pennant) forming within copper.
Short term- We formed a inverted hammer candle today at the ascending trendline hinting at a potential pullback to fib before breaking out. If we form a bullish candle tomorrow that'll confirm the sentiment and i'll likely take a short term long entry up to that key fib area.
Long...
SIlver just broke thru a major support confluence of the 200 ema, the flag pattern, 2016 trendline, and a prior resistance/support area. Recently, we formed a bearish engulfing pattern rejecting this level at 17.800. This is a great time to sell with a stop loss above 17.800 targeting 16.00-16.2 for the 1st target and I would expect prices from there to rebound...
I believe this is the retrace of a longer term downtrend. Once over I will reload shorts.
Targets on the 0,382 and 0,618 of the CD leg.
Good luck and thanks for your comments and likes.
Copper may be setting up for a long. This level is in the middle of a range so, it is not the strongest however watch the price action to see if it holds.
We have a nice setup in Copper, which already triggered off higher timeframes. The target on chart is the one forecasted in this way. This setup is valid until February 2017, if price doesn't retrace below 2.11. You can enter at market with stops there for the long term position, but you can also take a swing trade setup here, buying a half position at market...
NZDUSD has a nice swing trade opportunity that can evolve into a continuation of the weekly uptrend.
Buy a break of the last session's high, stop at the low. I copied a previous rally, after the weekly got oversold to get an idea of what to expect.
The price tested Brexit support as well as an inside trendline in the weekly, so I think it's highly probable to get...
