Sorry, I don't use upside targets - unless they are really really obvious.
Let me explain - there are different types of traders. One type of trading involves fading support and selling resistance. At the expense of over-simplification - that's what you read about most often on Hot Copper.
And for short term trading - it is the best method.
However, trend traders throw themselves to the elements - and just go with the flow. They expect trends to continue - until they end. They don't know where they will end.
If you are in to long term trends - then you don't think targets. The trend changes when it changes.
You can see by my graph that this is a long term proposition.
The trend changed back in March. It seems it is changing now - for how long? Nobody knows.
If you believe the Elliott Wave guys - then we are facing the abyss.
Hmmmmm.
Ok. The trend has changed.
I don't have a target. I'm just going with the flow.
