I received a lovely email from a premium subscriber who simply wanted to thank me for my ideas. He sent along a spreadsheet of his Slope-based trades over the past week or so, which revealed a handsome profit, and he noted I could use it as an endorsement. I confirmed he would permit me to share this anonymous spreadsheet, so I am pleased to do so below. I am so happy that my charting can be of aid to traders out there! Click on the image for readability. It’s quite interesting.
(more…)Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Dr. Copper Needs An Antidote
The following weekly chart of COPPER shows that its price has fluctuated wildly around the 2.47 level in an increasingly narrowing triangle formation since the end of the 2008 global financial crisis. At the moment it’s acting as major support and happens to coincide with the triangle apex. A drop and hold below this level could see a sharp downdraft in this commodity to around 2.20 (price support combined with the bottom of the triangle and a secondary volume bump), or lower.
Major overhead resistance sits at the confluence of the 50 & 200-month moving averages with the Volume Profile POC around 2.70. A spike and hold above this level could see price rise to around 2.99 (price resistance combined with the top of the triangle and a secondary volume bump), or higher.
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