COPPER AnalysisAs we can see from Dec to Feb price touch 3.93 level 3 times and fail. 1st time it create a bearish engulfing second time bearish harami. third time shooting start.
if price break and close below 3.719 level then we can see a target of 3.5598.
resistance 1: 3.93025
resistance 2: 3.96299
Support : 3.55981
Coppershort
Copper trading idea (best for swing)copper is in side ways on the major time frame
for smaller time frame we can opt to trade buy low sell high tactics
on the lower time frame
we had a long upside trend then price went to small sideways days as a buildup it looks good
and on the contary there will be chance price creating a pullback
on the breakout from upside we will avoid as there will be bearish fair value zone to for short makers and only long can played on pullback with the help of fib we can figure out the right zone to go long
for further updates
ill post them in comments
COPPER possible Elliott wave countsHello Friends,
Here we have shared possible Elliott wave counts on 4 hourly chart of COPPER, in which we can say that still selling pressure may continue for some while, because now possibly we are in complex correction phase as wave ((w))-((x))-((y)), in which we had completed ((w))-((x)) and now possibly we are unfolding wave ((y)) in which subdivisions are (a)-(b)-(c) and here also we had completed first two subdivisions as wave (a)-(b) and now we are unfolding wave (c), which can still continue same bearish trend ahead for now some while, where wave (c) would be completed , there wave ((y)) will be done, where wave ((y)) would be done, there wave 2 will be finished and we can say bearishness will be finished with wave 2. wave 2 will not retrace more than 100% of wave 1 so bottom of wave 1 is pegged at $ 3.2410 which should not be crossed as per wave principles, wave (c) can be or may be at equality of wave (a) which level is coming near $ 3.6269, and wave ((y)) can finish near equality with wave ((w)) which level is coming near $ 3.6618.
Well, post wave 2 we can assume fresh impulse ahead as wave 3.
wave (c) can be or may be at equality of wave (a) which level is coming near $ 3.6269
wave ((y)) can finish near equality with wave ((w)) which level is coming near $ 3.6618.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
BIG SHORTING OPPORTUNITY IN COPPERBig shorting opportunity in COPPER . As per monthly chart of COPPER , 3.8755 USD to 4.3165 USD is strong resistance zone ( supply zone) . From this zone sharp selling should come. 1.9915 USD & 1.2780 USD should be the two important targets downside. First target of 1.9915 USD will come till April 2024 & second target of 1.2780 will come till February 2025. As a trader one can find out shorting opportunities in COPPER in lower timeframes such as Daily & H4 .
COPPERCopper has given breakdown along with good intensity of volume, also formed 5 wave declined as a wave i after forming triangle as a wave X, wave ii has retraced very minor pullback, and now possibly wave iii is unfolding, which is making sentiments more bearish along with trend indicators supports in same bias, all the key levels are mentioned on chart.
Overall wave structure on daily chart
breakdown with good intensity of volume
RK's magic cloud sell activated in Daily
RK's magic cloud sell activated in hourly
macd in weekly running negative
macd in daily running negative
macd in hourly turned negative
rsi in hourly
overall key levels are mentioned on chart
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Copper levels for 25-3-2022Uptrend channel broken and waiting for retest for fresh sell trend.
Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels. It is all your own risk.
Copper-Sell (Positional)Feels like a fall as per my technical analysis.
Sell copper around CMP (712.45-712.5)
SL>719.3
TGT as marked
Note it's not an intraday trade.
Disclaimer: These are just my views, I am only SHARING my views - kindly do NOT trade blindly with these levels, please do your own research before entering/ or as per advice from your own financial adviser.
Copper near long term Resistance can fallcopper is trading hovering near Resistance and we can see divergence on the charts which is a good signal, can be shorted here with a good favorable RR, Sl can be placed few pips above the last swing high i.e 2.72, targets are on the chart. Once it starts moving in our direction trailing stop loss is suggested as markets can turn back any moment.
A good pair of reversal candles is forming on the 15 and 30 minutes time-frame, you can look for sell as soon as the first sell signals come to minimize your risk, if it doesn't give any signal on the lower time frame and move up aggressively from here the setup will be invalidated.
Always Remember to take care of your risks profits will take care of themselves