Short term trade with Copper.
I entered this bear trade on 2.3900. Why? I think the odds are good it will reverse back to the bottom of the trend line. As it tried to break the line for almost 90 minutes, but unsuccessfully. Technically we also have a divergence on the RSI and WaveTrend Oscillators. The major indices don't show strength either, so this could also have an impact on the copper price. Large probability it won't work, therefore close stop-loss.
If it goes down and you...
finish at 2.3700, you have a ratio of 3,3x
finish at 2.3600, you have a ratio of 5x
Stop-loss at 2.3960-2.3990. If stop-loss hits I lose 0.34%.
Planning to end the trade in around 3 to 6 hours.
If it goes down and you...
finish at 2.3700, you have a ratio of 3,3x
finish at 2.3600, you have a ratio of 5x
Stop-loss at 2.3960-2.3990. If stop-loss hits I lose 0.34%.
Planning to end the trade in around 3 to 6 hours.
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