I shorted copper last few weeks several times, happy I did, this week I'm seeing weakness in it's downward trajectory. There is a clean hammer on the daily which really gets me focused. I see MACD divergence developing, double bottoms on 4 hour and price in the area of previous support. I won't take the trade at the current price (I think you could, being happy...
The trick is that you are allowed to buy that position with only a margin of 1% or less, that is to say, only put 1000 usd of margin and you would get that position, suppose you are a little smart reduce and only use 10 times leverage, the maximum Accepted loss on this trade would be 2.87% ( of value ), if this sum is multiplied by 10, it would be an unacceptable...
Copper is going to complete the deep correction within WXY structure.
We are in wave c of Y to hit 2.23 area, where Y=W and correction reaches 78.6% Fibonacci retracement level.
Copper might go lower due because it looks like its forming pennant. However, the pennant could be penetrated from the top and go further up. I have bearish sentiment on this metal since it is one of the indicators global economy is going down and in the last year copper lost around 4% of its value.
Je vais surement vendre le cuivre dans les heures qui suivent si une opportunité se présente.
à court terme sur la semaine dernière le cuivre a fait un nouveau point plus bas qui indique un retournement de tendance.
Aujourd'hui le prix remonte jusqu'au pivot qui coïncide avec les moyennes mobile 50. ça laisse un bon ratio de bénéfice/risque si l'on va jusqu'à 2.54...
What would you do if you have been mining copper for the last 10 years and see some new digital precious metal that has been gone up 5500 times more than the copper you have been mining?
Looking closer, you find out that :
- you can start mining this 'digital precious metal' with the cheap electricity that you have been using for copper mining
- this metal has a...