Tuesday, March 28, 2017

Copper (update)

Copper came within 0.80 of my minimum downside target yesterday before roaring back.  It closed near its highs creating a tall lower shadow.    This was the first warning sign that my bearish trade could be in trouble.  At that point, stops could have been moved down to break even.  Today, we saw prices close above a 5 point downward sloping trend line and right back inside the Fib Fade Zone.  A move above 2.70 voids this pattern and I'd probably exit now it not done at break even.


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