Copper Scalping trade setupMorning Star pattern is observed which hints buying in the counter. Expecting a move to 738 with the support of 732
HGJ2022 trade ideas
Copper - rebound from support.Copper, in my opinion, undeservedly has low popularity in the trading community. I heard the opinion that there are few trading situations on the chart of this metal. I do not want to argue, but I think it depends on what angle we look at the chart from, and also on what trading methods we use. Recently, copper quotes bounced off the support level of 3.7. I think it will soon be time to prepare for an uptrend.
COPPER - ON MAKE OR BREAK ZoneCopper - Level 710 Is big Big deciding Points
Time Frame - MONTHLY
Objective - TRENDLINE major Support LINE
Make or Break area 710.
1. till respect demand Zone line 710 we can see Again bounce towards 740 to 785+++
2. If Break demand Zone than we can see free fall as like water fall 680 660 to 600
3. long term we can see Again 450 400 level too.
Disclaimer - View just for Educational purposes
CopperCopper is in point that we can set a long order with min risk. Also it is finishing wave e Elliott wave basically.
Copper BreakdownCOMEX:HG1!
Copper is breaking down.
Looking at the .702 (sneaky fib) retracement as a price target.
I'm thinking price gets down near $2.88 sometime during April 2024.
Fat_Fat
Copper - a brief overview.At the moment, we have a resistance line from the high of April 18, 2022, drawn through the high of January 18, 2023. Most likely, it will become the first milestone that will have to be overcome before the start of growth.
Copper: A bit lower 🪜The copper price is back in our blue target zone and dedicates itself to extending the low of its blue wave (c). After this fall, we expect significant rises in the context of the magenta wave (y) above the resistance at $4.19. In the short term, speculative opportunities are thus given here on the long side with the active blue target zone. Subsequently, however, new downward movements to our green target zone will be interesting for long-term investors.
The reduction target is $2500-2600According to the Butterfly pattern, the Fibo perfectly converges the decline to the target of $ 2500-2600. According to the terms, they should be there within a year. There will be a great point for going to long.
Copper looks like going to fall !!!Trendline has been broken and retest is done, what do you think? comment your ideas in comment. thanks
COPPER Two year Triangle may finally break.Copper (XCUUSD) is trading within a Triangle pattern since the March 07 2022 High. The price is currently above the 1D MA200 (orange trend-line), supported twice by the 1D MA50 (blue trend-line). The 1D RSI shows that we may be replicating the July 15 - September 20 2022 fractal.
If the price breaks above the top (Lower Highs trend-line) of the Triangle, then based on the fractal should target initially the 1.5 Fibonacci extension level at 4.1800.
As long as it closes below the Lower Highs, we will sell and target the 3.6870 Support.
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Copper’s Strategic BreakoutWe are observing an intriguing shift in the copper market that might offer a potentially profitable trading opportunity. On the daily timeframe, copper prices are manifesting a noteworthy breakout from a symmetrical triangle pattern, an event typically associated with substantial price movements.
Moreover, on the hourly timeframe, the metal is crafting a fresh local top, a sign of potential bullish momentum. A strong confirmation signal for this prospective uptrend would be an hourly close above the previous peak at 3.9320.
Assuming this bullish scenario comes to fruition, a strategic long position is recommended, with a Stop Loss set below the recent local low at 3.8765 to manage potential downside risk. We suggest two possible Take Profit targets based on Fibonacci extensions of the previous impulse waves and the range of the symmetrical triangle pattern:
The first target is at 4.0495, aligning with 1:1 and 1:1.618 Fibonacci extensions. This objective yields a favorable 1.5 risk to reward ratio.
The second, more aspirational target is set at 4.2360, matching the range of the symmetrical triangle pattern on the daily chart, presenting an attractive risk to reward ratio of 4.5.
Please, consider this analysis as part of your investment strategy, yet remember that trading always involves risks and it is crucial to manage them appropriately.
Copper - (continued) SHORT; for now ...I fail to grasp the general consensus where the overall impression seems to be that "bad technicals" but "a very pretty fundamental picture"?
LME stocks jumped +45% just since January alone! - How is that a "good" fundamental picture? (I must be missing something, especially with China not coming back, in any way resembling past demand.)
Long(er) term, one could make a case, perhaps, but only by disregarding the hole that the decline of Chinese demand will poke into global fundamentals.
On the other hand, Copper/Gold ratio looks rather bullish.
Here is a close-up;
As for the Copper/Gold Ratio;
That is definitely what bullish looks like!
Stay SHORT for now (... and then make a lot of money trading it from under 3.50 ;-)
Copper Conundrum: Diverging Indicators Point to More DownsideThe last time we looked at copper was last October, and the trade played out nicely in our favor. Much has happened since then and we think another opportunity lies on the horizon now.
Revisiting the same analysis now we observe the following…
China, being the largest copper buyer, its currency pair CNHUSD traditionally shares a high correlation with copper. However, a divergence has emerged since May 2023.
Moreover, copper's wide usage in manufacturing - from batteries to appliances and industrial machinery - makes China's import and export figures a good indicator of global economic health. These figures currently paint a gloomy picture, with YOY Exports & Imports pointing lower. Again, we notice a divergence between copper prices and these economic numbers.
The Gold/Copper ratio, usually confined within a certain range, has recently tried to break higher. Despite facing resistance, the movement may still have momentum. Previous breaks upward have proven to be quite rapid. One way this could play out is if copper trades lower, the Gold/Copper ratio tends to trend higher.
From a price action perspective, copper seems to be breaking out from a seven-month bull flag, inching towards the 4.00 price level. However, the significant resistance at 4.00 casts doubts on the breakout's success.
Further fuelling this doubt is the emergence of a Simple Moving Average (SMA) death cross on the daily timeframe.
On a shorter timeframe, the Relative Strength Index (RSI) suggests slight overselling, while the overall price structure is encapsulated in a symmetrical triangle.
Summing up, we foresee short-term downside for copper due to diverging macro factors from copper’s price and a downward trend in the dollar. Moreover, price action suggests overbought levels and looming resistance. CME has the Full-sized Copper Contract or the Micro Copper Futures which we can use to express this view, taking a short position at the current level of 3.904, stop loss at 4.10 and take profit at 3.55 the next level of support and subsequently 3.30 if the symmetrical triangle breakout happens. Each $0.0005 price move in copper per pound is equal to $1.25 for the micro copper futures and $12.50 for the full-sized copper futures.
The charts above were generated using CME’s Real-Time data available on TradingView. Inspirante Trading Solutions is subscribed to both TradingView Premium and CME Real-time Market Data which allows us to identify trading set-ups in real-time and express our market opinions. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
Disclaimer:
The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios. A full version of the disclaimer is available in our profile description.
Reference:
www.cmegroup.com
www.cmegroup.com
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Copper looking good to go! Copper getting ready to breakout, first target is 1.7 to 1
I will look to leverage with miners BHP ABX
MCX COPPER FUTURES 30MINS CHARTMCX COPPER FUTURES 30MINS CHART
Cmp 719 Target 737 Stoploss 710
Breakout in place.
Only an observation & not any suggestion.
Copper longTrade: Buy at 3.7645 or lower
Stop: 1.2755
Notes: China may be bottoming
The model:
The Ingenuity Trading Model is a Geometric Markov Model with specific inputs related to Price, Time, Volume , and Volatility. The model attempts to predict local minimums and maximums in price on a daily and weekly basis. A fancy way of saying a trading system that detects specific patterns in price, time, volume, and volatility and indicates whether to buy or sell.
On winning trades after 1 day take at least 1/2 of the position off
Copper on weak chinaand weak america.
looks like a double top m shape to me. time will tell, not that im trading this, but its moves give interesting perspective into the economy.
HG1! Is Bullish! Long!
Please, check our technical outlook for HG1!.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 3.729.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 3.771 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
Like and subscribe and comment my ideas if you enjoy them!
HG1! Massive Long! BUY!
My dear subscribers ,
I analysed this chart on HG1!, and concluded the following:
The instrument tests an important psychological level 3.7005
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Goal - 3.7740
My Stop Loss - 3.6580
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
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WISH YOU ALL LUCK
Copper: the irreplaceable raw material for renewable energyCopper is one of the few elements that has been used by humans for over 10,000 years. Archaeological evidence suggests that copper was first discovered and utilised by ancient civilisations as early as 9000 BCE1. Its malleability, durability, and excellent conductivity made it highly prized for tools, weapons, and decorative objects. Copper's rich history as a valuable and versatile metal showcases its enduring significance and timeless appeal.
Today, copper’s importance in the global economy continues to rise, especially given the boom in renewable energy. Copper is an excellent conductor of electricity, making it an ideal material for renewable energy systems. Its high electrical conductivity allows for efficient energy transfer, minimising power losses during transmission and distribution. Moreover, copper's unparalleled malleability and ductility, which refer to its ability to be easily shaped and stretched without breaking, make it incredibly challenging to substitute with other materials.
High intensity in wind and solar
Today, wind and solar are among the most mainstream forms of renewable energy. The figure below shows how much more copper is required when generating power from offshore wind (wind turbines in the seas), onshore wind (wind turbines on land), and solar photovoltaic (PV) compared to fossil fuels like coal and natural gas.
Copper is extensively used in wind turbines. It is employed in generator coils, transformers, and electrical cables. The strong magnetic properties of copper enable efficient power generation and ensure reliable performance in wind turbine systems. Copper is also a crucial element in solar panels. It is used in the wiring, busbars2, and connectors within the panels. Copper's excellent electrical conductivity facilitates the efficient conversion of sunlight into electricity and supports the overall performance of solar energy systems.
For the power generated from renewables to ultimately be deployed effectively, electrical grid infrastructure and energy storage are also needed. Copper, once again, is integral in building both. In energy storage systems, which complement renewables by storing energy for days when the wind isn’t blowing or the sun isn’t shining, copper is used in batteries and supercapacitors3. It is utilised in the conductive components, such as electrodes and current collectors, enhancing the efficiency and durability of energy storage devices. In electrical grid infrastructure, copper is extensively used in power cables, transformers, and distribution systems, ensuring the reliable transmission of electricity from renewable sources to end consumers.
Doing it sustainably
Copper is deemed to have infinite recyclability. This means that the metal does not lose any of its properties and can be used again and again. Recycled copper requires 85% less energy than primary production4. This highlights the huge environmental benefit of recycling the commodity.
Today, roughly a third of total copper production comes from recycling. This means that, as we scale up renewable energy, we must also bolster the recycling industry. Copper’s infinite recyclability will make that a fruitful endeavour.
The irreplaceable metal
In conclusion, copper stands as an irreplaceable raw material for renewable energy. Its exceptional electrical conductivity, second only to silver, positions copper as the ideal choice for efficient energy transfer in wind turbines, solar panels, energy storage systems, and electrical grid infrastructure. As the world embraces renewable energy on a larger scale, the demand for copper will continue to grow. And given its infinite recyclability, if the world deploys its resources appropriately, this growth can be sustainable.
Sources
1 Copper Development Association.
2 A busbar is a rigid conductor used for connecting several circuits.
3 Supercapacitor is an electronic device that store large amount of electric charge.
4 Copper Alliance.
