Strategy for trading Copper for July 2021 1. Copper is in Downtrend on Daily Chart but have formed reversal pattern with bullish hammer on 21 June 21 also RSI showing strength. 2. Strong Resistance zone between 733 to 740. This area will decide further direction for trade either on Long side or short side. 3. Price is respecting channel as shown, if it touches...
* Falling Channel * TruStop negative Crossover Bullish Journey to resume above 730-739 zone #KeepItSimple
shall stay above 4.49 to obtain new high
Copper buy for initial target of 750 then 850 important levels r marked in the chart itself should be treated as demand and supply zone.
Expecting upmove above 695 till 710 as first target.
Look at the above weekly chart of MCX Copper. It has created an ascending channel pattern without breakout. This channel started in the previous year's April month. At present, it's falling after making a tail. But how much it can go down? Copper may fall more from here, and that can be up to 728 - 710.6 levels. But overall, it's on an uptrend. So, soon it will...
Copper forming a bullish bat harmonic pattern on daily time frame. Can move towards 860+ levels.
It is lying at lower line of the channel. hopefully stay in it & touch 5.16 in next few weeks
WILL WAIT FOR BREAKOUT OF PENNANT
Copper trendline/Resistance breakout levels marked on chart
Perfect example: Change the chart time to 5Min and see the highlighted box, you will find a bullish spike. when it appears at support level sky is the limit, today it just formed and given 13 points till now in copper.
Copper Future - 4 hour Analysis CMP 4.475 Buy for Target 4.5- 4.55- 4.6-4.65-4.7-4.8-4.88+ SL below 4.410
Copper looks good to buy now. Now the market is at Higher low and trend reversal is already done. ROI : 16.37% Target : 892 SL : 703.55 NOTE : Can go for a buy when market open next trading session. Buy in the June contract and roll over to the July contract during June expiry if the target is not hit. Expecting 2 months to hit the target.
Do not short unless it is triggered. Keep Stop Loss at Day high. Note - 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...
Break-out after short consolidation target 780 for this expiry