View 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...
Feels like a fall as per my technical analysis.
Sell copper around CMP (712.45-712.5)
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.
My 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
Major resistance: 690/675
Major support: 665/650
The Indicator Used:
1) Daily Lines Plots Daily 20 (BLACK) & 50 EMA (GREY), BLUE (200 DAILY EMA ) Also On Lower Time Frame Charts.
1) Valuation band
KEYS: Red Faded Cloud: Over Valuation.
Grey Faded Cloud: Proper Valuation.
Green Faded Cloud: Under Valuation.
2) TE-REKAB - Proprietary...
Copper Continuous Contract
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...
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.
I use shorthands for my trades.
"Positional" - means You...
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+
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 -...
On the Daily Chart copper is looking strong and also it has shown small profit booking in the morning session now if it will shift above 644.50 then it may go upside till 647 and 652. Low risk trader can go long above 644.50 with stop loss of 642.20 and safe stop loss will be day's low 641.50.