#Copper Levels: BUY OR SELL?#Copper Market Levels:
Resistance: 712
Support: 708
Trading Strategy:
A trade plan is suggested only if either the resistance at 712 or the support at 708 is breached.
QCX2021 trade ideas
Copper 2017-2020 FractalThree years span 2017-2020 fractal matching 2021-2023 along negative trifecta:
1- High grade production glut now forecasted to exceed usage by 467,000 metric tons in 2024
2- US Ratings downgrade poised to worsen Treasuries ig, global juncture, EZ in recession, China's slowdown
3- Extended geopolitical tensions potentially broadening to Taiwan as signaled by the preventive Korean equities short selling ban
🧽 Mister Poper. Meet The Cleaner Of Your DreamsCopper price continued to provide negative trades affected by the frequent stability below the additional barrier at 3.7280, to manage to reach some negative stations by touching 3.6100.
Also, RSI stochastic continues to provide the negative momentum to allow us to suggest forming new negative waves to attack the additional support near 3.5000 followed by monitoring its behavior to manage to confirm the upcoming trend.
The expected trend: Bearish
Copper Futures ~ November TA Outlook (Daily Chart)COMEX:HG1! chart mapping/analysis.
Note: TradingView chart B-ADJ adjusted for contract changes
Copper Futures attempting to build bullish momentum off evolving China economic stimulus narrative.
Copper vs palladiumDon't know how I got down this rabbit hole, BUT when #copper really bottoms vs #palladium, this chart is telling me that the #dxy is toast.
Has the #USD truly topped?
Copper - Once again a snapshot of the '05 era compared to now
1989 - 2004 experienced years of sideways action then to a final blow off breaking out of pattern onto the next level. This blow off then resulted into a financial crash.
From 2006 (the first top of the '08 crash) to 2023, the market has also been sideways exactly like the past but of course in its own unique way.
Based on analyzing coppers trade pattern it seems that we're located in the times of 2005, three years before the '08 crash.
lets say the market is due to crash in ~2025 this exactly lines up with the clues in the past to say the market will crash in 2026.
With this data you can match your research to add confluence in your investment strategy, trade ideas, and much more.
*Not Financial Advice - DYDD*
COPPER Channel Down bottom buy opportunityCopper (HG1!) is trading within a Channel Down pattern since the June 29 low and since 5 days, it entered the 11 month Support Zone. The 1D MACD just formed a Bullish Cross, which has been a buy signal the previous 2 times within the Channel Down.
Every bearish sequence in 2023 has seen a rebound that hit at least the 0.618 Fibonacci retracement level. This is good enough for us to buy and target 3.7600 (0.618 Fib).
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Copper: Jump off! 👟The copper price has reached the lower edge of the pink trend channel within the turquoise target zone between $3.59 and $3.51 and has already shown a reaction to this line. Now, a far-reaching rise should occur, beyond the resistance at $4.19. There, the magenta wave (B) should then be finished and it should transition into sustained descents to the green target zone between $3.08 and $2.59.
Mcx copper futuresBouncing from 4 month support area 690 levels if manages to close above 690 for next 5-6 session can see strong pull back rally towards 720-740 levels. View fails on losing below 690.
HGZ3 LongSorry been out the whole month looking for my kids. Anyway this one will bring my family back. HG(copper) qualitative analysis.
Reasoning. Northern henpishphere most industrialized hemisphere looking to re stockpile copper for construction for the winter. As the building season winds down stockpiles are depleted. With all the new gov funding ARPA/BIL act more construction is on the horizon and with inflation commodities usually pop. I’m on mobile again, sorrrrrry living the life is hard.
“WAGMI, just not the way you think you will.” -KewlKat
HG is completing the Gartley Pattern- if price breaks down thru 3.59, the way down to 3.40 will be opened
- at this level Gartley D-point sits aligned with Fib Ext 0.5
- a bit lower, at 3.30 there is support created by top from June 2018
- if the overall situation in China improves and demand for copper may grow, this cluster could be a good entry point for LONG. Till then SHORT
Double bottom chart pattern double bottom pattern is a classic technical analysis charting formation that represents a major change in trend and a momentum reversal from a prior down move in market trading. It describes the drop of a security or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound (that may become a new uptrend). The double bottom looks like the letter "W." The twice-touched low is now considered a significant support level. While those two lows hold, the upside has new potential.
[Commodity] Copper Buy IdeaNote -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
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Copper ready for fresh upside move again On 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
More Upside move pending on Copper On 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
XCUUSD ( COPPER / USD ) Commodities Analysis 29/08/2022Fundamental Analysis:
as of now we can see the global inflation has rise sky rocket and the worlds economy is in a huge bobble which soon will explode and a catastrophic crisis may occur, ultimately most of the manufacturing and development plants which are dependent on the base commodities such as Copper and gold may face some market crises and demand may plummet to a very critically low levels, consequently a lots of the retail and small entities producer and manufacturers will hit the bottom line and bankruptcies if their exposure is not hedged or planned their business strategies accordingly for these days.
one of the main reason for this incident can be the changing of the world order and power pole transformation from west to the middle east and far east, Russia's conflicts with Europe and china's with south china's sea and Taiwan.
food shortage and probably real state collapse could be predicted and can be a good cause of such a market fall.
energy crisis and fuel price jump can be another good reason to decrease the equity and profit margin in the manufacturing and production segments.
Technical Analysis:
There exist a bearish Divergence of Price and MACD followed with some market fall from its ATH which means bullish trend Reversal and we are facing more falls and a bearish Market, using Fibonacci Retracement levels we have defined some Target Levels which are having confluences with different cycle Fib Levels.
we have defined some Resistance levels using Fibonacci and Price Action.
we may have some Bullish price correction on the way of the bearish trend.
There are total of 4 targets defined using the confluences of Different Fibonacci and Price action levels and they can be considered as strong support levels if not Broken sharply
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**
Copper: A little further 🤏The price of copper is now falling further and further after initially rising on Thursday. This development is in line with our primary scenario as we expect the low of the magenta wave (x) to be a bit lower in the turquoise target zone between $3.59 and $3.51. Only when it's placed, the price can rise above the resistance at $4.19 and build wave (B) in magenta. A drop to the green target zone between $3.08 and $2.59 should follow from this point.
COPPER TRADE IDEAhello all
My plan is to buy copper until the resistance level is reached.
*I have no intention of using my trading approach as a signal. I'm practicing my trading strategies, learning about market dynamics, and figuring out the best way to enter the market in the right direction.
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.
