Idea: Copper has seen monthly resistance and not made a new high since Febr 2017. If copper is to return to the monthly down trend, it will see strong resistance around 2.68669 and will be unable to break 2.72675.
Pros: Profit to the down side and retest and extension of the lows provide great risk reward. Targets are set at
2.46629 4hr retrace
2.06214 Daily retrace
1.95256 Extension of current low, an unlikely target but interesting price action to watch.
Cons: Further upside will whipsaw the trade and reveal weekly trend strength.
DISCLAIMER:
This is where I practice ideas and work on my trading techniques. This is not investment advice. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.
Pros: Profit to the down side and retest and extension of the lows provide great risk reward. Targets are set at
2.46629 4hr retrace
2.06214 Daily retrace
1.95256 Extension of current low, an unlikely target but interesting price action to watch.
Cons: Further upside will whipsaw the trade and reveal weekly trend strength.
DISCLAIMER:
This is where I practice ideas and work on my trading techniques. This is not investment advice. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.
