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Copper 1D Long – Targeting 0.5-0.6 Fibonacci LevelsCopper is showing signs of a potential bullish move on the daily chart. The setup suggests a possible retracement before a continuation to higher levels. We’re targeting the 0.5 to 0.6 Fibonacci retracement levels, with price targets set between 4.5000 and 4.7000. Technical Analysis: • Fibonacci Levels: The 0.5 to 0.6 Fibonacci retracement levels align with previous resistance areas, making them key targets for this move. • Trendline Breakout: The price has broken through a descending trendline, signaling a potential shift in momentum to the upside. • Retest Expectation: We might see a retest of the breakout level before the price resumes its upward movement. Trade Setup: • Entry: Enter a long position on a potential retest or near the current level, anticipating further upward movement. • Target: The primary targets are the 4.5000 to 4.7000 range, which aligns with the 0.5-0.6 Fibonacci levels. • Stop-Loss: Remember, this is a swing trade, so it could take a few days to potentially extend to weeks. It’s important to understand this trading style and adjust your position size accordingly to accommodate the longer timeframe and potential market fluctuations. This Copper trade leverages a potential shift in trend with clear targets and risk management strategies. Keep an eye on the retest for a better entry, and stay focused on the price action as it develops. Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
VANTAGE:COPPERLong
by AR33_
7
AUS200 - Bullish Counter Attack !Hello, traders. If you search the information about CFD, most people lost money when trading it. It is because this difficult to trade? I don't think so. The most common problem in my opinion lays on 2 factors. First is do not have solid trading plan. Second is do not have risk limit level. The first factor talking about to forecast how market move based on solid information showing in your chart. Let me explain this using the AUS200 chart. For your information, AUS200 have a beautiful chart pattern. Take a look at the chart. It is consistently making pattern up - sideways - up-sideways-up-sideways. And guess what, AUS200 now is sideways between 6578.9-6769.5. And just been broken this week. So, I expect the AUS200 will go up again to continue the market pattern. Looking the current price action (how price move and behaves to the environment surround it), AUS200 struggled to break minor resistance (6849.5-6824.4) and this will make the price will go down again potentially to test minor support (6751.3-6712.5). But, do not forget AUS200 also has strong support there (6769.5 - marking with green line in my chart). So, market potentially go down to the supports and rebound from there when buyers into market again. Regarding the probability (remember, trading always and always about probability). Whenever you see the chart, you always have to remember, that market moves in probability. And it is also possible that market can break down the support, and if this happen, then the "rebound" scenario I tell you above will be invalid. Therefore, as a trader in market we needs factors 2, that is risk limit level. Riks limit level - second factor - talking about how much money you want to risk in market. In factor 1, we forecast when and how market moves. Then in second factor, we also forecast where market will go. In AUS200, my forecast is if price rebounds in support, then it will move again to go up to test the minor resistance (6849.5-6824.2) and after breaking it, it will then test the major resistance (6883.14 - red line) as my major target. From this forecast, I know how much reward (1.4%-1.9% increasing) I get if I buy on support. From this reward, I know how to measure my risk tolerance based on stop loss I set up overthere. Risk limit level also help us as a added factor to place our entry level. Because everyone wants a lower risk and higher reward, so, if you already know technical knowledge and stick with your risk limit, you will be pushed to select the most entry level that suitable to the stop loss level that accommodate your risk limit level. Alright then, I hope you can get the idea from this short tutorial I give to you. Happy trading.
A
by Jee_D
2