- Chart pattern = reflection of market psychology. Beyond the very short term, interpretation of patterns are time-frame invariant. History repeats because human behaviour don't change.
- Price action of Copper daily (inset, top) and US 10-year Notes weekly (inset, bottom) look very similar. 368 on the former = 132-05 on the latter. If anything, the TY 132-05 support is even more significant than the copper 368 line as it is for a weekly timeframe and there are 3 previous tops at the same level on the left hand side of the chart immediately preceding the current cluster of candles.
- Am anticipating a similar sharp decline in price for TY (as per Copper). Waiting for the break.
23 October 2012
Chart Pattern : Copper Daily vs TY Weekly
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New : -132-05
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