We called it, it happened.
Price hit the Mega-Resistance and bounced back down, already down 1,4% today. That was personally my biggest trade in value yesterday and it paid off. Stop losses are now at entry and risk is zero but the potential reward is huge, with several take profit levels in mind.
Technical analysis never lies.
We take profit gradually, always.
Find on the chart our first 3 take profit levels
ps. it takes 1 take profit level for us to secure some profit and then have the stop loss at zero (entry) to secure a guaranteed profit. Try to do the same and your trading will become better. 💌
copper- approaching a major resistance level (the ALL TIME RESISTANCE LEVEL)
We will start opening some short positions here today but carefully because it still has room to rise another 2,5% before dropping massively
Comex Copper - Weekly
Bottom Line : Adjusted wave count: Comex Copper may complete a flat correction by rising to a new high.
Comex Copper may be rising in wave (C) of a flat correction developing as wave X (circled) of an ongoing bear market from 2011.
As per my analysis Copper is on Buy Trend So buy near 509.30 Stop loss at 508.20 and expected targets 513.10 / 517.60
Expecting time to trigger our buy entry is 4 PM . If today"s high is safe before our entry .
Gann And Fibonacci Always rocks Follow us and support us and help us to grow
Comparison of TOTAL2 and Copper
Similarities can be seen in the formation of a scallop
This may lead to a bullish C wave breakout on copper
I identify this structure as 'weak' due to its lacking of a strong double bottom and slight downward slope, however it is a good chart pattern for accumulation.
In "Copper Tempest" (see related ideas), I analyzed the macro-view on Copper. Now it's time to act.
My trade starts from 2.8462 with final target of 2.8125 (end of first corrective wave). Stop Loss set at 2.8537.
Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and...
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Exciting days for Copper. The brown metal reached the $2.8575 level. I'm confident that copper price will rise in the long run if copper demand, especially for China (largest copper consumer), will continue to record highs (527,000 tons in December 2019).
However, we still live on...