So, as most of you have seen this has been some shitty weeks overall, the safest trades IMHO is to swing commodities, here’s a little review/explanation.
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Copper was on a clear downtrend, it seems like it finally broke that trend, the first test would be what happens in the first horizontal resistance, gets rejected many times and one in particular caught my eye, maybe a wyckoff pattern is emerging.
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The downwards movement gains ton of momentum so I decide to open a trade, my goal its the profile poc in the back, when you scalp i usually get out as soon at it reaches the profile, on swings i like to take a chance all the way to the poc, if im wrong feel free to correct me, its a 559 pips movement, a nice swing.
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So thats how the position its going on so far, right now my stop loss it’s a little over $100, the spread was about $27 and so fair the overnight fee has been negligible.
In this uncertain times i advice people to consider swings and specially in more conservative assets such as this one.
submitted by /u/lalalalikethis to r/Daytrading
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