The Copper Blunder

One of my favorite patterns is the H&S failure. Somehow, I missed this chart pattern in copper. Chart patterns that have formations of 6-12 weeks are the most reliable. The risk/reward on the breakout was about 5:1.

It just reached its target this morning. This is a miss of about 7K profit per contract. About 20% of my trades account for 80% of my profits in a given year. Missing a trade like this can make the difference between a profitable year and a losing year.