Last week in our hot commodities we picked the commodity we thought would be great long term hold and copper as we thought has made great gains.
How do you take advantage of opportunities such as this one? Here we will outline how to take advantage of the commodity boom with a simple system.
The global boom in commodities
Global economic expansion is fuelling price rises in many commodities and copper is a great market to trade with huge increases in the new millennium already, with more to come.
Global economic expansion will keep prices firm
This increase has been fuelled by the emerging super economic powers of China and India as they compete with established industrialized nations such as the USA for raw commodities.
Trading the move
The first place to look for opportunities is on the weekly charts these give you the longer term trend and then move to the daily chart for timing.
The best way to get into the market is to identify chart support and use Bollinger bands for price targets and support and use stochastic momentum to time entry.
Once support had been established we waited to key off it and looked for upside momentum and it is here the stochastic indicator helps - it gets you in as the market gathers strength.
NEVER: Trade into weakness on the “hope” support will hold, always look for strength coming off the level you have targeted.
A simple way to trade but it has piled up huge gains!
Copper made big gains last week, but you will also notice from our other reports we made huge profits in unleaded gas and crude oil and currencies with the same method – look at our previous reports and you will see huge profits on the week and we used this method to trade them all.
Novice or pro? This method will help you
This method gets you in on the longer term moves at key areas of support and allows you to enter on strength not weakness.
Anyone can do it, it’s easy to learn and is very simple, however it still makes a lot of money and stop levels are easy to place if you are wrong.
Try it and see for yourself.
For more FREE info on the above method and a FREE Trading newsletter demonstrating the method as well as a range of tools to help you become a better more profitable trader visit http://www.wellingtoncr.com