Trading Strategy – Global X Copper Miners ETF

 
One of the more noteworthy developments in recent days has been the move in copper stocks.  After a strong run of outperformance in late September, the Global X Copper Miners ETF (COPX) peaked at 27.39 last week and trended steadily lower as traders justify the underlying valuations.  Nonetheless, COPX soared more than 31 percent YTD, outperformed the S&P.  Now the question is whether recent pullback is a pause that refreshes or it’s a beginning of something worse?  Below is an update look at a trade in the COPX.

The graphic below is from our “U.S. Market Trading Map”, show the near-term technical bias and trading ranges.  As shown, the underlying is in a short-term bullish trend when the price bars are painted in green.  The underlying is in a short-term bearish trend when the price bars are painted in red. 

Chart 1.1 – Global X Copper Miners ETF (daily)

Our “U.S. Market Trading Map” painted COPX bars in red (sell).  There is a distinct possibility that COPX had developed a top up trend reversal pattern, or double top pattern in other words.  The development time is about 2 months and the height of the pattern is small. These features suggested…Click here to read more.

You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.

 

This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?

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