COPPER RUN STARTS AGAIN?RETESTING DONE OR READY FOR BREAKDOWN?
holds 735 levelsthen 822 next or breaks dowm to 650 again.
MC1! trade ideas
#MCXCOPPER #COPPER correction completeMCX Copper has just traced out a pattern that can be interpreted as a A-B-C Zigzag from recent highs. All 5 subwaves of the final C wave seem to be in place. This now means the uptrend should be back in force to new highs. Hold longs with Stop at recent lows.
Copper Futures CMP 4.49 Target 4.53- 4.58- 4.61- 4.65- 4.68-4Copper Futures
CMP 4.49
Target 4.53- 4.58- 4.61- 4.65- 4.68-4.75-4.81+
SL below 4.435
#MCXCOPPER breaking out of a triangleLook for a strong upmove the next couple of days as Copper heads out of its sideways triangle pattern. At present the triangle seems complete and the next wave upwards is in its early stages.
Copper Week 19-AprView taken on 18-Apr : Seems 4 March Mother day candle breakout upside happened on 14-Apr.. So, 16-Apr fall is only a retracement to Mother candle High (702).. Price should again bounce from 702 --- Buy if day candle is not closed below 702 in first retracement
Note: This is not positional Long view. View is for intraday Scalping ONLY... Buy at 702 to book 3-5 point Intraday profit
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 little correction up side, then will be down to completecopper little correction up side, then will be down to complete
Copper Bearish viewMy view on copper is bearing for coming days . Forming H&S and breakdown of H&S happentlast and retest the breakout zone . now we can expect reverse from there and make new low . we can expect 635-40 lvl in copper
Copper - Multi time frame + fibo + Trendline Break Down Major resistance: 690/675
Major support: 665/650
The Indicator Used:
Panel 1:
1) Daily Lines Plots Daily 20 (BLACK) & 50 EMA (GREY), BLUE (200 DAILY EMA ) Also On Lower Time Frame Charts.
PANEL 2:
1) Valuation band
KEYS: Red Faded Cloud: Over Valuation.
Grey Faded Cloud: Proper Valuation.
Green Faded Cloud: Under Valuation.
2) TE-REKAB - Proprietary Indicator
KEYS:
PB: Pullback
Blue Candle: Selling Divergence
Yellow Candle: Buying Divergence
If you like the analysis, do leave a like and follow for more such content coming up.
The analysis is my POV , hope you got bucks in your pocket to consult a financial advisor before investing :P :)
Happy Trading :)
Elliot wave Analysis # Copper (Commodities)Copper Continuous Contract
Bearish Sequence
wave 5 of 5 in progress
Projected Target: 643.8
Disclaimer: Any of our investment or trades we share on our blog are provided for educational purposes only and do not constitute specific financial, trading or investment advice. The blog is intended to provide educational information only and does not attempt to give you advice that relates to your specific circumstances.
Copper is looking Guy for BuyPositional Bet : Market is in range in Weekly Chart above 620 can see 640 to 660.
Elliot wave Analysis # Copper ViewCOPPER US$ SPOT
13 Years Cycle represent that, we are in the wave 4 Sequence
Neutral Outlook
[Commodity] Copper OverviewNote -
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. Please refer to the link to my footer and explore further if You want.
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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.
I also do my trades live, Please refer to the link to my footer if you want to tail me.
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Here's Why MCX Copper Yesterday Moved DownLong-term Investors:
Copper has broken March 2020 resistance trendline, and true resistance breakout is a clear signal to buy. Target prices for long-term traders: 760 - 800+
Intraday Traders:
But at present, MCX copper can pullback to the previous resistance line to continue an uptrend. So, intraday traders can sell for the following targets: 690 - 680 - 676
