These are actual trades from our Trading System.
The base metal family of Copper, Zinc and Aluminium broke down big time on 7th of June, 2024. Here is how the trade unfolded.
Copper : The weekly trend on copper was already bearish after a mega rally of 30% over a period of just 10 weeks. However, the price rallied on the 5th and 6th of June and tested the Horizontal Resistance above.
(Fig 1.1 - Bearish Setup 3LL on Copper Futures)
On 7th of June, the price opened with a small gap down that did not get filled by the first 2 candles, C1 or C2. C3 was a big red candle that filled the overnight gap between 5th and 6th of June and closed below the gap. C4 was a small red candle that closed below C3.
This completed our Bearish setup "3 Lower Low (3LL)", Bearish Setup 7 ( Bearish Setup 7 - 3 Lower Lows) and signalled a sell. Copper crashed by almost 2% to close even below the pivot support of 5th June.
Zinc and Aluminium : Almost similar conditions as Copper except that there was no opening gap down. On Zinc the sell signal was generated by the Bearish Setup 3 (Bearish Setup 3 - Big Red below Support). Please look at the annotations on the chart examples for details.
(Fig 1.2 - Bearish Setup Big Red below Support on Zinc Futures)
(Fig 1.3- Bearish Setup 3LL on Aluminium Futures)
All the 3 were blockbuster trades with price crashing by more than 1.5% for Copper and Aluminium and 3.5% for Zinc.
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