With Silver so rangebound, it might make more sense to swing trade in copper because of lower margins.
Even 0.10 movement fetches you a lot of money if you trade the direction.
Is anyone here trading Dr C ?
What are the best timeframes for swing trading this asset ; I am currently using one and five hourly charts ;
BB + stochs + RSI + MacD
Will be grateful for any guidance on this.
Would request forum seniors to post their trading calls in Copper if they are trading it.
In fact bought a contract just today. I am currently buying when it gets to low $4 range and looking to sell on a move over $4.10 or so. It seems range bound in that area but one day that will change either way again.
If you are holding your copper in futures - must have doubled the money by now and a bit more.
Planning to short Dr Copper tomorrow or Friday , expecting a bit more upside.
To me it looks like a peak here at 4.20, I hit it at 4.18. It should drop to sub 4.10 again soon enough. If the market does not take a hit in the next week I am going to be in trouble.
I am out for now and covered that position. I had not shorted before - just bought at the dip and sold when it popped. It broke through its previous trading range, and I don't want to stay short on something I am fundamentally long on.
David Banister in his markettrendforecast is talking of Dr Copper going down till 2.69 !!!!