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Copper Futures (Aug 2022)Copper Futures (Aug 2022)Copper Futures (Aug 2022)

Copper Futures (Aug 2022)

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HGQ2022 trade ideas

HG - COPPER FUTURES - BULLISH - LONGWill be looking at long positions for instrument for the following reason. • It is approaching a point of Major support in the ranging pattern looking back 3 months. • This is a long-term long swing for me looking forward at least 2-3 months, but it might happen sooner with the recent volatility in the market. • Looking to catch a long trade of the rejection from the support zone. o I would need to zoom in to get a better entry point, once price rejects from the support zone. • Also, I have been studying the Elliott wave patterns, and the 5th wave is usually the point of a major trend reversal. • Also, there is the formation of the falling wedge pattern which adds to the confirmation of a bullish reversal. Of course this is purely a technical approach. **This is just my trading thought process and does not constitute as financial advice. **Please trade with proper risk management**
COMEX:HG1!Long
by MOGBEBOR
HG1! Copper Day Trade 28-Sept-2023TRADE DIRECTION: LONG Price broke and closed above the Short-Term Trendline (red line). Before that, there were many candlesticks with long lower wicks (yellow eclipses) and bullish reversal candles (green arrows) formed around the lower line of the Parallel Channel (green dashed line), indicating buyers had started to accumulate long positions and sellers took profit off their short positions. KEY LEVELS: 1. Short Term Trendline (red line) 2. Parallel Channel (green dashed line) 3. Daily Pivot (Traditional Type) TRIGGER SIGNAL: Bullish Pin Bar (yellow arrow) and prior bullish reversal candles.
COMEX:HG1!Long
by TheDemonTrader
Copper started retracement moveOn Our Harmonic pattern indicator based trade setup take trade as explained below :- Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target , When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% .. Please note:- It's working on news based and volitile market very well so exit if SL hit
MCX:COPPER1!
by JaiPrakashShuklaHarmonicTrader
2
The Wiseguy Report : December Copper HGZ2023The Wiseguy Report : December Copper HGZ2023 HGZ2023 -- COMEX:HGZ2023 NEAR TERM : NEUTRAL VOLUME STRUCTURE So far, for the month of September, 70% of the December Copper volume has occurred between 3.8400 & 3.7100, with the highest volume occurring near 3.7900. PRICE ACTION December Copper has rejected all its previous interest inside the Value Zone & is seeking price balance somewhere near 3.6000 support. While this may appear Bearish at first, which it is, I am taking caution & anticipating an upside correction from this over-sold condition before becoming truly Bearish. FUNDAMENTAL FACTORS - Weak USA Housing Market. ---High USA Mortgage Rates ---Low demand for New & Existing Homes - China's declining demand due to weak economy
COMEX:HGZ2023
by WiseguyFutures
Copper near at reversal zone can go up For all trade on my Auto Harmonic patterns indicator trade setup - Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail our SL if trailing SL hit exit from long trade and initiate sell trade ,
MCX:COPPER1!
by JaiPrakashShuklaHarmonicTrader
COPPER Two year Triangle is about to break out!Copper (HG1!) has been trading within a Triangle pattern for more than 2 years and recently the price action has gotten so narrow that it prompts to a break-out soon. The 1D MA50 (blue trend-line) has been acting as the Pivot level while the 1D MA200 (orange trend-line) had the last rejection on record on September 01. The 1D RSI since the May 24 Low has been printing a similar price pattern to July - October 2022 (so far). That fractal was also using the 1D MA50 as the Pivotand after it broke its Resistance, it rose aggressively almost as high as the 2.0 Fibonacci extension. We will purse a more modest target, below the 1.5 Fib at 4.2000. The R/R is worth it as a break below the Higher Lows (bottom) of the Triangle will make us close the trade on minimum loss and open a sell instead targeting 3.5500 (Support 1). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
COMEX:HG1!Long
by TradingShot
Copper fresh downtrend startedFor all trade on my Auto Harmonic patterns indicator trade setup - Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail our SL if trailing SL hit exit from long trade and initiate sell trade ,
MCX:COPPER1!
by JaiPrakashShuklaHarmonicTrader
1
Copper ready for Upmove 740 again For all trade on my Auto Harmonic patterns indicator trade setup - Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail our SL if trailing SL hit exit from long trade and initiate sell trade ,
MCX:COPPER1!
by JaiPrakashShuklaHarmonicTrader
COPPER: Neutral. Wait for a breakout.Copper is technically neutral, as also dipicted by the 1D outlook (RSI = 50.817, MACD = -0.013, ADX = 24.251) inside the HL trendline of the Bullish Megaphone and the LH trendline of the January High. This movement can only offer scalping opportunities. If you want to commit beyond those, buy over the LH and target R2 on the medium term (TP = 4.1950) and sell under the HL and target S2 (TP = 3.5450). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
COMEX:HG1!
by InvestingScope
3
Industrial metals continue to face headwinds as Chinese data disIndustrial metals were the worst performing commodity sector last month and were down 2.7%1. Over the last six months, the sector is down 15.2% and has created the biggest drag on the overall performance of commodities. China's real estate sector, once the engine of its economy, is now teetering on the edge of crisis because of excessive borrowing, overbuilding, and a housing slowdown. The government's crackdown on risky practices and sudden intervention in 2020 to prevent a housing bubble have led to over 50 Chinese developers defaulting or failing to make debt payments in the last three years. The consequences include reduced consumer spending due to falling housing prices, disappearing jobs tied to housing, and decreased business confidence. While policymakers have taken modest steps to address the situation, the real estate turmoil has spread to financial institutions and the broader economy, prompting concerns of a larger crisis. A build-up in industrial metal inventories over the last 3 months is consistent with market expectations of ample supply of the metals for the rest of the year, given relatively modest demand. Zinc inventory is up 96% while lead inventory is up 85% compared to 3 months ago. This is clearly weighing on sentiment towards industrial metals. Copper (COMEX) was down 2.8%1, and aluminium down 2.8%1. The only bright spot in the basket was lead, which was up 3.7% last month. Speculative positioning in COMEX copper has been oscillating between positive and negative territories in recent months and entered negative territory again last month after briefly becoming positive2. COMEX copper inventory is up around 46% compared to 3 months ago. And although copper held in COMEX is one of the smaller stores of the metal, when combining London Metal Exchange, Shanghai Futures Exchange and COMEX, copper inventory is still 27% above where it was 3 months ago. Nickel was down 5.7% last month1. Although nickel is widely known for its use in electric vehicle batteries, a growing market, it still draws around two-thirds of its overall demand from the production of stainless steel. China's steel market has been facing pressure in August due to continued high steel production despite sluggish end-user demand. Blast furnace utilization rates have risen, but some local mills in key steelmaking provinces like Hebei and Jiangsu have not received official communication about output reductions. Uncertainty surrounds the extent of China's steel output cuts for the rest of the year, with expectations of smaller scale cuts targeting environmentally sensitive regions. Rising steel inventories are attributed to robust production and weak demand. Despite potential production cuts, market sentiment remains cautious due to these challenges, and steel prices have declined. This, in turn, is weighing on nickel. Source: 1 Bloomberg as of 21 July 2023 to 21 August 2023 2 Commodity Futures Trading Commission (CFTC) as of 15 August 2023 3 change in inventory over the past 3 months by United States Department of Agriculture This material is prepared by WisdomTree and its affiliates and is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are as of the date of production and may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by WisdomTree, nor any affiliate, nor any of their officers, employees or agents. Reliance upon information in this material is at the sole discretion of the reader. Past performance is not a reliable indicator of future performance.
COMEX:HG1!
by aneekaguptaWTE
Copper's Perfect PennantWhile the concerns of a Global Recession are not entirely out of the question, the supportive economic activity we have seen in the U.S. should indicate that the Fed may be closer to achieving its soft landing goals. Construction and housing remain robust where mined resources such as copper are in peak demand. Asia and India have also seen a pick-up in activity where China has stepped in to address its recent economic setbacks by cutting interest rates and backstopping its real estate market. Let's look at the charts The Technical landscape indicates a near-perfect pennant formation after carving out a bottom in mid-August and forming a flagpole up to the August 23rd highs. Traders will see the market has consolidated throughout the week, generating the pennant before blasting off on weaker Jolts and ADP payroll data. The stochastic momentum indicator shows that prices have breached overbought levels, telling you that a new bull market may be in store. Traders will want to use $4 as their upside target, last seen in July, and $3.75 as their first level of support. www.tradingview.com CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs Disclaimers *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
COMEX:HG1!Long
by Phil_Blue_Line
Copper needs China.As everyone knows, China is one of the largest consumers of copper. And it is the demand for copper from China that largely forms the market for this metal. For some time now, demand has fallen sharply and pushed copper quotes down. Copper is a very interesting trading instrument. That's just to sell more in all likelihood, if you have to, then only on very short time periods. Traders are waiting for the resumption of demand from China. When this happens, it will be possible to open long positions and earn. So far, we are watching how the price interacts with the formed support level and the long-term resistance line. Probably the outcome with the growth of copper is already close.
COMEX:HG1!
by aleksandr_shirin