Comex copper... do you remember this setup?

This is what i wrote in previous post on the 11th Nov

 The setup

Here is the one hour chart. There are many possible paths for price but we are interested in getting a long position after price has found support on the organic sup/res offered by historical ML's. The fat black ML is seen here at just above 246.00... expect a dip below as price is fluid mechanically. A nice relatively tight stop can be used but timing is critical and our advanced study template has much more market structure revealed with some 27 PF since 2002! Price may retrace to 235 area in which case we will also pick up a few longs there. ( which is a .618 Fib level).... remember " fools rush in where angels fear to tread"... wait and watch and let time progress. we need more bars and price ation before this takes off and we may move sideways in cosolidation range for weeks. Remember that this is only a 2 PF study and please read my work and empircal study on horizontal MLs and reaction lines.
http://medianlinetrader.blogspot.fr/p/blog-page.html

And lets see how things panned out shall we? Remeber we have rolled over from Dec 16 contract to March 2017 so allow for some price distortion....

 Take a look at the horizontal organic ML's as zones of support and resistance... The bottom line is that you couldnt have gone far wrong here.

UPDATE 1st Dec.. Charts below:

 with reaction lines added give it a clear context

and lets not forget crude but please foget the OPEC hysteria and look at the second reaction line from the black PFset/ medianline

 

Comex Copper ( Dec 16)..Plus Emini Dow ( DJ Z16)

There are alot of things i could say about the US elections but the simple satisfaction of winning a bet ( Re Trump Vs Clinton) with my wife will suffice. This comes on top of Brexit in June.... it's just a shame i am not a betting man ! The " Holy Trinity" will be completed when the third happens -Boris Johnson becomes PM. With this last one we must remember the maxim: "Softly,softly catchy monkey". I only hope i am around to see it.
On a serious note we have seen some superb price action in the Dow. Of course we now are seeing new all time highs but what is impressive is these simplePF's.... Mind the Gap!!

 Copper: Basic two ML study with RL's inserted by auto indicator: remember my work on horizontal organic support and resistance?

 The setup

Here is the one hour chart. There are many possible paths for price but we are interested in getting a long position after price has found support on the organic sup/res offered by historical ML's. The fat black ML is seen here at just above 246.00... expect a dip below as price is fluid mechanically. A nice relatively tight stop can be used but timing is critical and our advanced study template has much more market structure revealed with some 27 PF since 2002! Price may retrace to 235 area in which case we will also pick up a few longs there. ( which is a .618 Fib level).... remember " fools rush in where angels fear to tread"... wait and watch and let time progress. we need more bars and price ation before this takes off and we may move sideways in cosolidation range for weeks. Remember that this is only a 2 PF study and please read my work and empircal study on horizontal MLs and reaction lines.
http://medianlinetrader.blogspot.fr/p/blog-page.html

Recap ahead of next weeks US election... anyone else think equities are looking toppy? DAX, ES charts.......also Copper (Z16)

And last but not least Comex Copper:Dec16.( below)
This is a simple one-fork study using high time frame pivots to create the most powerful of all PF's... the horizontal PF that shows the greatest correlation with price. For more info on organic horizontal lines please see the resources section.
We are at a critical point: Options are zoom thru RL to the green horizontal at 227.00 (equates to resistance at $4900 PMT) or as  i supect a coming period of volatility with a failed break out and  then touch back for re-test on downsloping RL. Any break with good candle pattern and new high from August should be buy opportunity. The issue is one of watching, waiting and patience. Look to the past to see the future probabilities and setups.

See same chart in August post "It's not over until the fat lasy signs":
http://medianlinetrader.blogspot.fr/2016/08/gold-its-not-over-until-fat-lady-sings.html

I've got an LOI...

It is clear that most professional sellers will not entertain buyer requests for soft offers until.. ( continued)

Gold and Comex Copper ( Sept16).... It's not over until the fat lady sings!

 With N.American equity markets reaching for the sky and all time highs the precious metal complex is struggling.Its is not impossible for a return to $1275 and the green CL seen below in ML/PF :B-D-C but i suggest you watch the horizontal support offered by historical PFs around the $1320 area indicated with red arrow. Also past support on LHS indicated. Don't understand what i am banging on about? Then take a look at the power of horizontal historical PF's here:http://medianlinetrader.blogspot.fr/p/blog-page.html

Copper (Sept 16):

A simple study using 3 important historical pivots gives another horizontal PF and its RL's in dashed red. look at the Centre line and price distribution around this line. This is organic support and resistance..... Add the FNL PF and you will see your trade entry and potential setup

 

Copper Comex (Sep 16) and reaction line structure

EURUSD... post Brexit