- Copper Traders -

[Masterchanger]

now short, the downtrend resumes and a textbook .382 retracement has almost completed

 

[Doji7]

MASTERCOPPER......

Very nice trades Mastercopper!!

 

[Masterchanger]

Thanks for the complement,
unfortunately today I'm a bit underwater, for the day.

I'm short

SLD 1 HG MAY10 Futures HGK0 3.2505 USD NYMEX 10:41:53

looking to cover short around 3.2025 level

 

[Masterchanger]

Took some heat but still holding short expecting recent lows of 2.8110 to be tested.

Not say I'm gonna hold that long but I'm planning on it.

This could be a major trade setup

 

[Masterchanger]

Real time total equity on HG is $1072

 

[pentothal]

I think you want to play the short side for a while...
I don't have enough money to play the futures so I use Etfs...

 

[Masterchanger]

Real time maximum total equity on HG is $2109

I believe there are further lows to be seen.

Are those automated wave counts or your own projections?

So your projections are that we are in wave <2> C and expecting a low to be put in marking the beginning of a Wave 3 to carry us up and usually wave 3's are larger in magnitude than wave 1's or wave 5's. Correct???

weeks long uptrend broken,
retest of that trendline break completed as well as a .786 retracement of the downmove points toward lows.

So your long the ETF??

Somebody has to be on the other side of my trades.

 

[Masterchanger]

.618 retracement will likely lead to new daily low


....yes, I'm still short!

 

[Masterchanger]

75% retracement in overall position, that will test your conviction.

I'm trying to make this a multiday trade if possible.

 

[pentothal]

1) the wave count is mine, not automated
2) no, we are in wave 3. Number 2 means Wave 2 completed (against the trend).

So trend is down, now we are in the strongest of the 5 waves and I am short using ETFs.

I hope to make enough money to switch to the minis...