Setup: The 4h chart shows a clean distribution top near 6.20 followed by a series of lower highs and accelerating selling. The 1h chart confirms the breakdown structure: price carved through the 6.05-6.08 support shelf that had held multiple tests over the past two weeks, with the last four bars showing sustained selling and a gap-down open from 6.051 to sub-6.00. Volume on the breakdown bars (Apr 28 02:00 onward) is the heaviest seen in days — 3044, 2019, 3077, 4966, 4405 — confirming this is not a thin-market drift but an aggressive directional move. Price is currently consolidating just below 5.98, which is the first minor reaction after the flush; the bounce has been shallow and unconvincing, consistent with a dead-cat structure.
Flow: Copper is down -1.71% on high volume as a macro risk-off trade, appearing across multiple bearish feeds. The broader environment has equities, metals, and rates all aligned bearishly with DXY marginally bid, adding commodity headwinds. HG is functioning as a macro barometer for global growth concerns, and the selling today is not idiosyncratic — it reinforces a cross-asset de-risking theme.
Plan: Stop is placed above the 6.00-6.005 area, which represents the consolidation base of the gap-down structure and the most recent resistance formed after the break — a close back above there invalidates the breakdown thesis. Target is the 5.87 area, which corresponds to the prior congestion zone from late March and represents roughly 3:1 reward on the move. A failure to continue lower within 2-3 sessions or any reclaim of 6.05 on a closing basis would prompt reassessment.
📍 Entry: 5.9745
🛑 Stop: 6.005
🎯 Target: 5.87
⚖️ R:R: 3.43
Flow: Copper is down -1.71% on high volume as a macro risk-off trade, appearing across multiple bearish feeds. The broader environment has equities, metals, and rates all aligned bearishly with DXY marginally bid, adding commodity headwinds. HG is functioning as a macro barometer for global growth concerns, and the selling today is not idiosyncratic — it reinforces a cross-asset de-risking theme.
Plan: Stop is placed above the 6.00-6.005 area, which represents the consolidation base of the gap-down structure and the most recent resistance formed after the break — a close back above there invalidates the breakdown thesis. Target is the 5.87 area, which corresponds to the prior congestion zone from late March and represents roughly 3:1 reward on the move. A failure to continue lower within 2-3 sessions or any reclaim of 6.05 on a closing basis would prompt reassessment.
📍 Entry: 5.9745
🛑 Stop: 6.005
🎯 Target: 5.87
⚖️ R:R: 3.43
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monk.trade — Trade setups and market intelligence
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.