I see a potential trade on Copper. On the daily it has formed a nice double bottom (unconfirmed) with a strong bullish engulfing candle at support, all good signs to the upside. I am seeing MACD divergence on the daily, in addition RSI divergence. I have dropped down to the 4 Hour chart and have highlighted the 50% Fib area I am interested in for an entry. I'll set a limit order, if it hits we are in a trade, if not, I go looking elsewhere. 1% Risk 2:1RR - Happy Trading
Note
I have yet to get long on this trade, never fun watching a good trade pass you by.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.