HG Copper Futures- Short to Long Setup
Updated
HG 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.
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.
Note
Sideways today from the entry yesterday. Holding.Note
small move up on low volume.Note
Copper futures down to price of late Apri. A good entry long here.
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