14 December 2011

Copper : Weekly Triangle

  • Short HGH2 @ 355, reduced half at 335.9 earlier today.
  • Weekly chart forming triangle which is nearing breakout on downside now. Triangle boundary this week at around 330.
  • Will put a real trade in bigger size on break of this. Earlier short was merely in anticipation of downleg of triangle formation. If it works, downside objective is 261 (-21% potential).
  • Extremely smooth start to life at Saxo (+55% mtd). Want to protect that so have squared off half of all open Risk Off on EUR/USD break below 1.30 earlier, even though I believe that trades have plenty more potential.

2 comments:

Taichiseal said...

+331.3 on balance of short HGH2. All square now, awaiting to sell break of triangle.

Taichiseal said...

Sell stop triggered. New short max risk at 329.