Today is Saturday, 02/16 and we are summing up the outgoing week.
At the moment, we have the position in cooper only. Let’s take a closer look at it.
For Copper, we had SetUp at 20.01. and throughout the past week we have been actively watching Copper.
Two points are interesting here:
1) Net positions of Commercial. 22 thousand contracts in the positive zone. This shows that we can expect good movement in Copper in the near future;
2) A very strong bullish seasonal trend.
We already tried to go into a long position once, but caught a stop-loss. Now we are trying to catch the trend a second time. That is open position on the correction.
At the entry into position on the market correction it is important to reduce the risk to deal, because there may be a lot of false rise. So on knocked out on Thursday and the loss was $ 1975.
On Friday, too, there was a down, but we kept in the market, because set the stop loss in right place.
Risks should be calculated so that we can safely trade three stop-losses. As it is correct, at the third time it is already possible to understand that this is a correction or a change of trend.
Summing up the trading week (TW07):
Copper loss was $ 1975 and we are trading again next week. For two days of trading, we would like to see good impulses, which should cover our losses by leaving.
Insider Week team.
Our Trading Performance HERE
Our COT-Trading Service https://insider-week.com/iw-cot-trading/
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