XCU/USD - Head and Shoulders
There are some amazing setups forming on the charts, here we have XCU/USD on the 4h chart with a head and shoulders pattern.
The right shoulder formed on the 0.618 retracement level, which is an ideal level as the pattern as a whole generally holds a better structure in this situation.
There has now been a pullback to the trendline, providing an excellent area to short.
My original analysis for copper still stands, the bullish 5-0 setup which was posted around 3 months (chart is shown below).
Both these ideas link well, showing an opportunity to go short and long.
Don't forget to add me on social media :)
The right shoulder formed on the 0.618 retracement level, which is an ideal level as the pattern as a whole generally holds a better structure in this situation.
There has now been a pullback to the trendline, providing an excellent area to short.
My original analysis for copper still stands, the bullish 5-0 setup which was posted around 3 months (chart is shown below).
Both these ideas link well, showing an opportunity to go short and long.
Don't forget to add me on social media :)
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