I'll be buying Copper based price action nearing a breakout of it's current triangle pattern and uptrend creating a long opportunity. Take profits will be at key support levels.
Good luck and happy trading!
Good luck and happy trading!
Note
Two Take profits have been triggeredNote
Final profit taken, perfect trade.Note
So my fundamental rationale for this trade was actually Donald Trump. Trump before he was elected kept talking about "Rebuilding America" and creating Jobs through infrastructure. Copper is an instrumental raw material when it comes to infrastructure. From electrical wire to piping it will be directly involved in Trump's infrastructure plans. Increased demand = higher prices.
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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.