Copper seemingly has broken its downtrend, with the presence of a strong linear regression uptrend on the daily chart (0.86) this upward movement will likely continue.
Just my opinion on what market might currently be doing. Enter and exit at your own risk. DISCLAIMER Please note that this chart is an opinion based chart only. Please trade at your own risk
After the wave X, which ran from January 2016 to December 2017, copper should now finish the correction phase with a wave (Z). However, this should accompany copper until the first quarter of 2019. As a result, copperproducers are more likely to let off steam on the bottom in the coming months when this scenario arrives.
After wave (A) completes long the abc move up and then shift to a short position to play the wave (C) down.
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Aswel Fibonacci long as short analysis tell me that Copper -1.33% is at the end of a trend line now. It is at Fibonacci 0% long and 100% short. So, when it breaks the low resistance price can fall to 2.96500 / 2.92000. When resistance hold, price will climb back to 3.06800, 3.09600, 3.12000. I have opened a position!...
Will Copper go long or short?. When the Copper price breaks 3,0250 or 3,223 an 17% movement is expected. The chart can bounce back when the top or bottom price gets touched, the pattern is horizontal now. But WHEN IT BREAKS it will make a movement of probably 17% (always in parts).... So I hold my breath when we reach 3,0250. After years of studying, learning...
Will Copper go long or short?. When the Copper price breaks 3,223 or 3,0250 an 17% movement is expected. The chart can bounce back when the top or bottom price gets touched, the pattern is horizontal now. But WHEN IT BREAKS it will make a movement of probably 17% (always in parts).... After years of studying, learning and practicing I have developed a way of...
Looking to trade OANDA:XCUUSD - if it breaks cleanly below the yellow line - will be shorting
Copper Futures are flirting with their support level at 2.5775, so today I'm watching to see if they break that support line, and more importantly, I will look to see what happens Thursday to see if there is confirmation of the trend. We could just as easily see Copper fall below the support line, just to bounce right back up on a false breakdown. That's why I...