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Hot Copper Charting and Chat, page-213

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Jako8557

16,642 Posts.

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11/11/18

17:49

Post #: 36463265
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Originally posted by radx ↑

Thanks for the replies @Jako8557, @Cabbie and @wilfran1pm

So how would you guys likely play the WTC chart, if you were to trade it?

I agree with Jako that it looks like it may break out but IMO would need the major index's backing in a positive direction to do so..

Do you guys just look at say the "Micro" (chart only) or are you looking more for direction on the "Macro" (Index's) first?

For example,
If we do indeed have a retracement next week would you be waiting to see how WTC price reacts to the index's retracements?

As in wait to see that the index's retracements are slowing/turning before looking for a good TA entry setup to say go long?

(This is taking any possible stock news announcement out of the picture)

I'm not sure if you guys trade like this and I've only started experimenting with it over the last 2 months but seem to have pretty good success if I plan my trades before hand.

Expand

I'll need to see the daily (and probably the weekly) before I even consider making a trading plan for it.
What can appear a good trade on the hourly, can be trading against the overall trend on a larger (and stronger) timeframe.

I'll try have a look later.....

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