Copper has been pushing lower to the support of this monthly descending triangle, the breakout of the triangle was confirmed last week. The projected target for the pattern is near the 2.00 mark also near the main rising trend line.
I am suggesting two possible trades, one in the near term, on the right hand side daily chart, and the other on the Monthly chart for a longer term price projections. Hope it goes well.
Best of luck. Join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician
==================================================================
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
I am suggesting two possible trades, one in the near term, on the right hand side daily chart, and the other on the Monthly chart for a longer term price projections. Hope it goes well.
Best of luck. Join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician
==================================================================
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
