Re: Copper Is Still A Sell, Watching For 2nd Break


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Re: Copper Is Still A Sell, Watching For 2nd Break

Posted By: Gian1
Date: Sunday, 11 May 2008, at 9:46 p.m.

In Response To: Copper Is Still A Sell, Watching For 2nd Break Out (USCoralSea)

I am watching the weekly chart.From what i see it's going to have to close below the 18 week Moving average first, and then show solid downward direction the next week before my system would call it a sell.
IF this is a trend change, I'd stay short till it gets close to the lower bolinger band, and exit right there. It will probably bounce, so my second sell will be after it showes it can't break resistance.
Now, *IF* all that ahppenes on the weekly charts, I would be fairly confidant that a new down trend has been established.
If that does not happen I'd sit on the sidelines because the market could be doing any darn thing at that point, and my system does not work under those conditions.
Although, I used to trade sideways markets with the Williams index as a guide, so there is something to play with on paper. It's been forever since I worked that senario though. I don't have a recent track record trading like that.

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Messages In This Thread

Copper Is Still A Sell, Watching For 2nd Break Out (views:99)
USCoralSea -- Sunday, 11 May 2008, at 4:18 p.m.
- Re: Copper Is Still A Sell, Watching For 2nd Break (views:76)
  Gian1 -- Sunday, 11 May 2008, at 9:46 p.m.
  - Re: Gian1 - Copper Market (views:75)
    USCoralSea -- Monday, 12 May 2008, at 4:42 a.m.
    - Re: Gian1 - Copper Market (views:71)
      Gian1 -- Monday, 12 May 2008, at 9:19 a.m.

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