Hi Traders,
Looking at Copper (HG) Again, Since the last post it has effortlessly melted to my target. I Now see another short opportunity coming up and I am looking at making sure we can capitalize on the commodity.
The way I am playing this one is that I am using less risk as I would not want to give back any profit if the setup does not work. Looking at the technical, Price has created a small consolidation and then has managed break it with a strong engulfing candle. Price came back is retesting the resistance at 3.25.
I have already entered the position and I am looking to ride the next leg down to 3.0365 which I think will be a beautiful trade.
Let us see how this one plays out.
Renaldo Philander
Looking at Copper (HG) Again, Since the last post it has effortlessly melted to my target. I Now see another short opportunity coming up and I am looking at making sure we can capitalize on the commodity.
The way I am playing this one is that I am using less risk as I would not want to give back any profit if the setup does not work. Looking at the technical, Price has created a small consolidation and then has managed break it with a strong engulfing candle. Price came back is retesting the resistance at 3.25.
I have already entered the position and I am looking to ride the next leg down to 3.0365 which I think will be a beautiful trade.
Let us see how this one plays out.
Renaldo Philander