Hi guys, to potential harmonic patterns evolving with structure resistance around completion point. watch for price action to confirm an entry. targets on chart. trade with care.
The risk of a rapid correction is significantly greater with positioning at such extremes!
The bullishness in copper is misguided, in my opinion. Sustained dollar strength always hurts commodities in the longer term. The chart shows inverted dollar versus copper. A big fat juicy divergence, along with likely continued dollar strength due to a structural off-shore dollar shortage, should put pressure on commodities.
... Presumably this trend has encountered exhaustion, perhaps it is worthy looking for a short term entry with a stop above the high!?!
Entry Price : 2.530 Target : 2.420 SL : Move to breakeven when it goes down.
After a nice Copper setup, we must wait for price entry and follow the rules that are on chart ! Gluck !
Once wave C is over, a bearish reversal should occur. It seems to be too late to join the bulls now.
Copper shows very harmonic long term trading potions started from last Jun , wish butterfly will be valid as well.
MULTIPLE TOP IN 60 MINUTE CHART, ALSO TRENDLINE BREAKOUT, SL & TARGET IN CHART,,,
Took a look at copper, target and criticals are in the chart. Will wait for retest upper MLH before i enter (or, alternatively for zoom and retest of old (grey) median) . Stop would ideally be above pivot. Target 1: bottom channel, target 2 base WRB, target 3 downsloping median.
Great HVF setup here on Copper. Expecting a sharp sell off all the way to about 1.950s level. Amazing Risk/Reward, about 13.5/1.
I would short this right away. With a tight stoploss.