COPPER made inverse head n shoulder pattern on an hourly chart with decent OI & also near its strong resistance zonce of 715.
If copper breaks past 715 then buy with mentioned stoploss & target.
Risk:Reward = 1:2
Copper MCX: We're currently witnessing Copper in a range-bound movement, specifically within the 695-720 range. This zone doesn't offer a clear trading opportunity as of now.
To avoid potential traps, it's crucial to wait for a breakout and a sustained move beyond this range before considering any trade. Breakouts often signal a change in market sentiment, so...
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
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...
Since Copper is in a consolidation , A Break out or breakdown from the support / resistance trendlines could trigger an impulse move on those sides respectively.
With resistance around - 712 - 714
With Support around - 702 - 700
break down of Symmetrical triangle view turns bearish only positive on closing above 750 weekly close sell on rises down side target 650-625 in next 2-3 month view fails on closing above 750 levels on weekly bases with volume
724 - 726 is the first zone for buying
723 -721 is the second zone for buying
this is when you buy price in two halfs by spiliting quantity
the above fva > fair value area is likely to retest but ive considered the last the two area by considering the confluence of fib 0.5 to 0.7 level which are = with our fva
for resistance we have 744- 746
which is good...