01 March 2013

Copper : Triangle Breakout

  • Trying trade coming to fruition.
  • Breaking out of the monthly/weekly triangle now. Break point is 350.50 on the front month.
  • Downside objective is [350.50-(399-312)] = 263.50.
  • Trade : Step up Copper risk. Sell stop-in at 350.30 just triggered. Going forward, mtm entire position at 350.30 for risk/reward evaluation. Forget the earlier entries higher.