Commodities have been on a tear lately. This trade on COPX is a good one to catch. Since the move has started it would be wise to use the first ray at 35.97 as a target if you're a little bit squeamish.
Lately, the way these ideas have been moving I decided it's best to move my targets higher since by the time the alarms are triggered and I get to adjust, the TP has already been hit. My take profit is about 2.04 reward risk ratio and as you can notice the ideas that have hit Stop loss result in losing less than gaining on the ones that hit.
Lately, the way these ideas have been moving I decided it's best to move my targets higher since by the time the alarms are triggered and I get to adjust, the TP has already been hit. My take profit is about 2.04 reward risk ratio and as you can notice the ideas that have hit Stop loss result in losing less than gaining on the ones that hit.
Note
Profit alert hit. Now it's time to either:1) Extend targets to 38.50 and move SL to breakeven or
2) Extend targets to 38.50 and leave SL as is providing a new R of 2.82
We like the Ratio on this and the movement in commodities so we'll leave the Stop-loss in place and just extend the target
Note
Extended target hit. These are the wins that make the money management work. 2.82 win over a loss of 1 if it had lostNote
...and now it's looking like a good re-entry on support .
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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.