1st condition If this candle closes below lower trendline with closing below the lower trendline with flag take profit levels 2nd condition If this candle rejects from upper trendline with closing below the upper trendline i am short and wait for lower trendline to break for take profit levels
RSI and Stochastik crosses. Oversold on BB bands. 1 st target middle Bollinger band around 2500
IF COPPER CAN BREACH THE LINE PLAY THE COUNTER TREND LONG WITH STOP JUST UNDER 235.
A Close Below The Trend Line Will Open Doors To Take profits@Flag Stop Loss @ Upper Trend Line high
The metal, known to some as the commodity with an economics degree, plummeted to a six-year low of $5,240 a metric ton last week on the back of the rout in Chinese stocks. While the government was able to stop the bleeding in equity markets and copper has recouped some of its losses, people who trade the metal predict weaker demand growth from China will help drag...
15 year trendline support hit. Last time it hit this it ran for many years.. Obviously this is a long term view as may have another retest or open near 2.47 at beginning of August b4 going.
Several scenarios to play this ascending triangle structure. 1) wait for a solid break out above 2655 with stop at 100 ma (4hour) to go long and target 200 ma or play out the Inverse Head & Shoulder (risk reward favour this scenario) 2) wait for a break above 2646 and watch for pullback with stops at 2655 target the lower end of the ascending triangle
Ok, some traders noticed this vertical advance and want to short it. I do too, but not for now. I'll wait for confirmation before going short, but it looks like a potentially very good trade. It's reassuring that we are at the start of a new quarter, and many trends will start to reverse, and many pairs will come out of consolidation patterns as money managers...
Copper broke below the bear flag formation and resistance and the 20 DMA kept upside limited despite additional stimulus from China. Possible retest of 2550 levels as sellers dominate in this market and the RSI has yet reached oversold area. Daily candlestick is bearish after a doji and a red engulfing flag. So we expect more downside here as the downtrend...
kEEP SELLING COPPER TO 2.4 TARGET ON THE WEEKLY CHART,
PRICE BROKE THE 061FIB. LETS SEE IF PRICE IS STRONG ENOUGH TO BREAK THE SUPPORT WHERE IT IS, AND IF IT IS, GO SHORT TO THE NEXT TARGET. WHAT DO YOU THINK???
Till now, we cant see any reason to believe Copper's uptrend at this moment. Prices fall down as a main trend although it may rebounce a little bit in some next trading sessions. Suggestion trading strategy: Long if touch 2.7050 again and keeping short position for next 2 weeks
Copper (19.05.2015) finally providing some directional momentum after spending more than 3 weeks in range. Now copper is trading around $2.8626 & as we can see on charts , after spending more than 10 trading session , finally copper providing a downside breakout with aggressive volume. The reversal coming in copper is from 61.8% fibonacci retracement level as...
This is the Renko Daily Copper Chart for my purchase of a weekly call at 2975 strike for this week on Nadex.
Using Renko charting on the CME Copper Futures contract I decided to buy a call on the Nadex market for a weekly option on Copper. I purchased the call just now at a Premium of $26.00. The option expires Friday. If the market overtakes and shows in the money tomorrow I will add to my position.
Each sign of weakening of the Chinese economy has been interpreted as a high probability of falling demand for raw materials, with a consequent decline in the price of copper. The long-term copper has continued to fluctuate in a downward trend and is likely to values not exceeding $ 3 / ton at the short notice, or this price will serve like resistance. The support...