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JJC Breakout & Long Entry

JJC (copper ETF) along with copper futures, has broken above the downtrend line & will be added as an Active Long Trade at current levels. note: An additional price target has been added (T1 at 28.70) with the previous targets re-sequenced as T2 & T3.

On August 12th,  JJC was added as a Long Setup with the official entry to be based on a close above this trendline, as I believed the odds for a fake-out (failed breakout) were elevated at that time, had JJC managed to make an intraday breakout back then. Upon further review of the charts, including my expectation for a drop in the $USD in the coming weeks/months, I have decided to make JJC an Active Trade here on the breakout before the close with a suggested stop below 26.25 (or higher, if only targeting T1).

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Aug 28, 2015 11:28am|Categories: Completed Trades - Long, Gold & Commodities|Tags: , |Comments Off on JJC Breakout & Long Entry