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Looking For Copper To Turn Down Beginning Tuesday, July 30, 2013

Jul. 25, 2013 3:34 PM ETJJCTF2 Comments
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Contrarian daytrading technician who specializes in locating high probability short term trades while predicting price movement directions with over 85% accuracy. Most of my trading involves either extremely short term micro scalping of stocks or commodities (using 1 minute bar charts), or swing trading of stocks overnight. I also specialize in weekly stock option premium selling, along with pre-market and post-market psuedo market maker and stealth trading activity, and selling commodity option strangles (selling delta neutral pairs of far out-ot-the-money puts and calls), with the intent to achieve a steady 1% weekly return. After 32 years, well battle tested, very opportunitistic while putting capital preservation as tantamount. Rehabilitation Counselor over 20 years, M.S., M.B.A., now an around-the-clock speculator. Incorporate seasonals, time of day, and other patterns and methods where high probability price movement patterns can be statistically forecast. Know how to safely go long high beta, heavily shorted stocks; know how and when to use extremes in sentiment to take the other side. I like to fade extreme moves as my proprietary methods are based on reversion to the mean theory. Developed my own scale trading and money management techniques. Will change and adapt my trading style based on current market conditions. I hope to start a chatroom devoted to teaching speculators how to see and capture daytrading opportunities. They say that those who can...do, while those who can't....teach. I want to provide teaching from someone who really can do, someone who knows how to make steady returns while experiencing minimal drawdowns. As a mentor, I would love to share my knowledge and support to help small traders. I came from humble beginnings and have never forgotten it. I want to accelerate the learning curve of my chatroom students so they won't have to make all the mistakes that I have over the years. I am excellent at devising and implementing strategies that can quickly turn a losing trade into a net winner.

Recently Copper had a protracted bearish down trending technical chart. However, beginning May 2nd, Copper began a corrective, counter-trend bounce that lasted 24 trading days (see chart below). After making a new low and briefly bouncing off $3.00, Copper has traded in a similar corrective, counter-trend bounce that could end on Monday, 7/29/13, so I will be watching for a move lower beginning Tuesday, 7/30/13. Beginning on that date I plan to play copper from the short side, anticipating a move lower.

Daily Chart Of September Copper Shows Distinct Pattern

If you look at the daily September Copper futures chart you will see that on 5/1/13 we hit a significant low and then the next day, on 5/2/13 we made a white candlestick that began a correction that lasted 24 total days of trading. Recently on 6/25/13 Copper traded just below $3.00 and reversed up, making a white candlestick that marked day # 1 of the present correction cycle. Through Wednesday, 7/24/13 we have completed 21 days of correction. I am looking for another 24 days of correction off the low which would place a top occurring on Monday, 7/29/13. Thus, beginning Tuesday, 7/30/13, I plan to begin trading copper from the short side. We don't have to hit a high exactly on Monday, but after that day we will be on borrowed time and much more prone to a sell off. If you look at the above chart you will also notice that we have had three minor tops in each correction phase which helps confirm that we are following similar symmetry.

Check back on this article and click on the comments section as I will comment and let you know how it turns out.

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