STLD's chart is massively bullish, the same as copper, iron ore futures, AUDUSD, and other correlated instruments. The setup here confirmed some time ago, but it's relevant as an analysis piece now. Most people are bearish on equities but I believe we're seeing the bottom here, or very close. Rising commodity prices seem likely going forward as well, which will benefit the AUDUSD bulls like me.
Cheers,
Ivan Labrie.
Cheers,
Ivan Labrie.
Note
Target one hit, AUDUSD is lagging this so bad, it'll rally big time.Note
You can double the position and trail stops to 35.55 here. Last: 36.68Trade closed manually
All targets hit, exit the trade.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.