Copper Short SetupCopper Short Setup
🔵 Entry: $4.327
🟢 TP & RR: $4.140 (2.02)
⛔ Stop Loss: $4.420
Trade Reasons:
✔️ 1.618 Fib Level Extension
✔️Market Flow overbought level
📝 Fairly basic setup, trying to capitilize on a potential pullback.
Copperpositioning
Copper - Pullback and RelongIf copper doesn't make a new high today (which I don't believe it will), we will likely see a retest of the 2.72-2.74 area (top of the channel).
I'm itching to relong from this area.
Copper, another leg up?Copper broke the range it was trapped in on Friday, and I've been long via IVN.TO for roughly a month now.
I'll be buying any dips or retests of the previous range.
As soon as we touch sub 4.50 for IVN i'll be buying.
-Healthy RSI, MACD crossing up on the 1D.
Positioning: All Time Highs in Copper Non-Commercial LengthThe risk of a rapid correction is significantly greater with positioning at such extremes!
