COPPER trade ideas
Copper (XCUUSD) buy setupBuy Copper at CMP (2.67+) and on dips upto 2.65
T1: 2.78
T2: 2.85
T3: 2.94
SL: 2.599
Big Head and Shoulder pattern with long term reversal possiblityTechnically it looks like Copper is getting ready for long term upside by forming strong consolidations at monthly support. Looks like left shoulder and head is already formed where head is formed by a double bottom pattern which is also bullish.
Once pattern completes and price breaks above the pattern we can see a very strong and clean up trend.
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
Copper hourly chart analysis - Channel and megaphoneCopper hourly chart analysis - Channel and megaphone
Copper buy setup - Bounce at historical supportBuy XCUUSDat CMP (2.66+) and upon dips upto 2.55
T1: 3.30
T2: 3.66
T3: 4.14
T4: 4.65
SL: 2.44
COPPERcopper weekly chart.
here c wave completed & forming head &
shoulder pattern, so may be turn up..
Copper analysis - Right angled ascending broadening patternCopper analysis - Right angled ascending broadening pattern
