Copper seems to have reached a level, where it might find resistance coming from the straight lines derived from the previous bottoms. The same technique resulted previously in a correction. Currently copper is one of the strongers bear markets, so the decision to go short seems to be reasonable.
Based on the weekly time frame, the trend should continue until price hits at least the lower border of the channel. The EUR is one of the weakest currencies, the USD is one of the strongest ones and their respective trends are strong enough for the pair's trend to continue to this goal.
NZD/USD is continuing to double the upward channel to the downside. Currently heading down towards its lower border. Seek shorting opportunities, as the current down trend does not seem to be over yet.
AUDJPY is approaching a key level within the system of parallel sloped lines - either a bounce (downwards) or a breakout (upwards). Either way it's at a level, where you can stalk a good trading opportunity.
See, if you can enter a trade, risking as little as possible (1R), while going for 5R or more. Before you take the trade - accept the loss, ie. see your...
Price has been contained within a narrow corrective channel, which may be complete soon. There has been a nice bounce off the green trendline, which may be followed by another impulse wave. Looing to TP at the APP of 1.0 or at the upper border of the rising channel.
Price's highs and lows seem to be clinging nicely to this fork, so I find it likely to be followed. Target? Either at the Median Line or even higher, Ret-9%, MLH or even at the level of $50.
Risk management: make sure you treat every trade like an idea that can fail. A too strong opinion may make you take too much risk.
After the massive decline, the correction continues. How high can it climb? As a Fib trader I would like to take profit at Ret-23.6. The SL below the most recent support/resistance area just below 51.5.
And the most important: how much are you ready to lose, if it fails? 1% of your capital? No matter what, let it be no more than you risk on your other trades.
After the massive decline, the correction continues. How high can it climb? Probably up to the nearest resistance, which based on the Ichimoku analysis is at about 57. This is where: 1) the most significant recent highs, 2) the flat level of monthly KijunSen and 3) the SSB of the weekly Cloud confluence. The Fib traders might want to prefer to take profit at...
I think this market is still bullish, as it conforms to the supporting lines of the up trending fork. We haven't had any lower lows for some time. I think it's heading for the resistance level above and is going to test those prior highs at about 71.25 soon.
Palladium is in a very strong up trend. I think it will have yet enough momentum to get to another parallel line. As if it was about to score yet another level in the strength of the trend. So I went long at 1134.868; TP: 1158.500; SL: 1111.237.