I don't know what your time frame and style is so hard to answer
and I don't know when/where you bought CPER. If you bought it
Monday price is probably around your entry at the moment or even
slightly higher. To me Monday was really the day to buy it honestly
or take an initial position on as I discussed the trade on Sunday
weekend newsletter, worst Tuesday early near that trendline but
entry was not low risk then . Price did move up to 18.97 my style
would have been to sell at least 1/2 or 2/3 on that move up
earlier this week and then if I wanted to keep 1/2 or a 1/3 as a
runner then my stop would have to be wide. Again that's my style
and maybe not yours. It did make a new high which was all
that i was looking at initially, I didn't give any price targets.
To me that's some sort of 5th wave move
CPER is down about 50 cents today but is basically retesting the
broken trendline where it's a place to look for it to find support
if it's going to. Also the 20 and 50 MA's are here as well.
If I was still in CPER I'd probably give it room in there to
see if i holds that area. Now now on a 60 min I can see a zig zag
pullback could be an abc but again I'd like to see it hold in here.
Any thoughts on Copper? I
Posted by rwbutcher2020 on 21st of Aug 2020 at 09:15 am
Any thoughts on Copper? I just got stopped out (with a small profit).
I don't know what your
Posted by matt on 21st of Aug 2020 at 09:31 am
I don't know what your time frame and style is so hard to answer and I don't know when/where you bought CPER. If you bought it Monday price is probably around your entry at the moment or even slightly higher. To me Monday was really the day to buy it honestly or take an initial position on as I discussed the trade on Sunday weekend newsletter, worst Tuesday early near that trendline but entry was not low risk then . Price did move up to 18.97 my style would have been to sell at least 1/2 or 2/3 on that move up earlier this week and then if I wanted to keep 1/2 or a 1/3 as a runner then my stop would have to be wide. Again that's my style and maybe not yours. It did make a new high which was all that i was looking at initially, I didn't give any price targets. To me that's some sort of 5th wave move
CPER is down about 50 cents today but is basically retesting the broken trendline where it's a place to look for it to find support if it's going to. Also the 20 and 50 MA's are here as well. If I was still in CPER I'd probably give it room in there to see if i holds that area. Now now on a 60 min I can see a zig zag pullback could be an abc but again I'd like to see it hold in here.
Thanks. I was trading futures.
Posted by rwbutcher2020 on 21st of Aug 2020 at 09:53 am
Thanks. I was trading futures. One lot. Partial contracts not allowed. You are either in or you're out.
There is a little support
Posted by racerick on 21st of Aug 2020 at 09:59 am
There is a little support here at 2.91 I have pretty good success trading the 1 hour 50ma on it.
thank you
Posted by rwbutcher2020 on 21st of Aug 2020 at 10:07 am
thank you