Looking for down on COPPER Friday
Updated
I'm looking for copper to retract at least part of Thursday's upmove for the following reasons:
1. DXY (Dollar Index) delivered an inefficiency yesterday and looks to be turning higher to go redeliver some 1hr - 4hr inefficiencies higher.
2. Copper delivered a weekly inefficiency yesterday and traded above previous day's high in the Asian session, which is a liquidity signature.
3. Now, Copper just broke the low that took us to the high above PDH, so I'm looking for a downmove on copper.
ICT
1. DXY (Dollar Index) delivered an inefficiency yesterday and looks to be turning higher to go redeliver some 1hr - 4hr inefficiencies higher.
2. Copper delivered a weekly inefficiency yesterday and traded above previous day's high in the Asian session, which is a liquidity signature.
3. Now, Copper just broke the low that took us to the high above PDH, so I'm looking for a downmove on copper.
ICT
Trade closed manually
NopeTrade closed manually
I was a little too ambitious and impatient with this analysis. I suppose copper is still drawing higher to the next weekly inefficiency.
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