All information given inside the chart and i shared this for educational purpose only. Maximum i wont give the followup or update in the old chart posted as educational trade idea, sometimes i will...so please make sure if i posted the new chart for the same pair, it could be a possible wave count or update. Make sure that old one was invalid or possible or ...
After seeing a beautiful teacup/ cup and handle formation, I'm expecting a long position on copper. On the daily chart yesterday (8/20) copper had a bullish push. Entered a long position, and will be holding a swing trade.
Sl- 2.4357
Tp1- 2.7852
Tp2- 2.9895
Tp3- 3.3093
Those are my projections. My entry was at 2.7151
#COPPER
cmp $2.743
Target 2.46
Stop 2.85
Rectangular consolidation range broken.
Post break, flag formation.
Any uptick till 2.80 is a shorting opportunity for a target of 2.46.
As previously discussed in other post I expected Copper to correct quite a bit. I was expecting the 2.44-2.60 area because of many confluences. However, we have completed an ending diagonal pattern that pushed to 2.86. Now we have come down to my expected support area based on fractals and fib levels, which we are now holding. Also, if you look at the USDOLLAR we ...
update
looks like it is going to hit that green zone again
rsi and cci upswinging
same price as the last time it rised from the oversold position
safe trading
@wizardsofcrypto
Copper is an essential industrial metal used worldwide. Copper prices are followed in financial markets around the globe and the metal is growing in popularity. Copper is widely used in construction and because of its electrical properties is found in wires and circuit boards. Copper is mined in open mines around the world, with Chile and the United States leading in overall copper production. The demand for copper is increasing as countries such as China and India continue to develop, while the supply remains tight. The growing demand and constrained supply is likely to keep copper prices volatile in the near future. Copper prices are commonly quoted in USD.
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