Have been watching copper regularly now, and what I thought was going to be a 3d on the 240-min chart ended up pushing lower this morning only to end in a buy divergence/bear trap anyway. The 60-min chart actually set up the 3d criteria and price rallied all day long, eventually tagging its 200% projection.
The daily had a 2b breakdown and is now setting up a 2d long entry where you would be looking to buy the next pullback in the 240-min chart. Essentially, in the 240-min chart above (furthest left) you would be targeting the blue dash line just above 3.9 initially, but if the trend is strong it should take this level out and tag the next upward sloping blue line just north of 3.95
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
I am always open to questions, comments, or suggestions on how to improve this blog.