HG Copper Futures LONG

Updated
HG - copper demand is higher this year as the economy expands globally. On the 60 minute chart

price hit a high pivot on May 15th and pulled back in a standard Fib 0.5 fhsion. Price

has touched the upper boundary of that support three times and has now printed a wide range

green HA candle. I believe that this is a reversal pattern and will take a long trade here

targeting the pivot high mentioned. This is a 5% expectant profit amplified by the leverage

of a futures trade.I see this as a safe trade of a commodity that has a bullish bias overall.

I am also looking for some increased volume at this juncture to assure that some buying

momentum is coming into the market.
Trade active
Copper Futures moved up well today. Stop loss moved to 52% above break-even thus assuring a profitable trade. Full position over the weekend. Expecting bullish momentum to persist.
Trade closed: target reached
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