HG Copper Futures- Short to Long SetupHG is on the 30 minute chart with a set of EMAs ( 7- blue 20-red and 100-black) ascended
6 % in 7 days from the morning of 4/23 to the evening of 4/29. This is traded with a leverage
of 25. A short trade taken on the reversal is now impending closure. The short falls faster than
the long climbs and will yield about another 6% in 24 hours or so. The trade is setup to close
when price crosses the EMA7 and stays above it for three consecutive candles ( 90 minutes).
I long trade will then be contemplated to continue to take full advantage of the volatility.
The RSI indicator should show a rise toward the 50 level to validate a long trade and some
green buying volume candles should print. Rinse and repeat.
Longcopper
COPPER Commodity or Junior Miner trade LONGCopper prices rise when the economy is thought to be growing and needing more electrical
infrastructure while they fall when bearish indicators might project a recession. I am
at the aluminum and finished steel subsectors as well. FCX is under consideration but as a
large cap it does not have the volatility of the junior miners. In the meanwhile COPJ, CPER and
COPX look like they are worth considering given the trend up since mid-February. The chosen
strength and trend indicators confirm the trend. This is a long trade and sector rotation play for
those to consider that are tired of tech stocks and earnings plays.
WRN- A copper mining Penny Stock WATCH for LONGWRN is on 15 minute chart. The ideas is described on the chart in textboses with a head
and shoulder pattern identified as well as a Fibonacci retracement leel and dual anchored
VWAP to identify areas of high liquidity and trading volume. The trend indicator adds support
to waiting for a best entry as marked on the chart. Once entered, my expectation is for a
10-15 % move in a single week long swing trade.