Elliot wave Analysis # Copper ViewCOPPER US$ SPOT
13 Years Cycle represent that, we are in the wave 4 Sequence
Neutral Outlook
CU1! trade ideas
[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
COPPER (26th FEB 21) Above 644.50, May Move Upside Till 647-652 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.
Copper Comex 100221 00.40hoursCOPPER COMEX
Monthly Chart breakut has already been witnessed above 3.25
Expect the rally towads 4.25-4.65.
resistance will be at 3.79, 3.84 and 3.98.
As long as 3.49 is not violated
A rise to test resistance and the supply zone of 4.25 or above range can be tested in due course of time with volatility.
Copper - The wave count - And the future Om Namah Shivay
Trying Copper after Gold. What is the similarity between all the MCX from that of the Indexes and that of the stocks. I am not sure. Need to study.
Copper wave count is med complex. Have not applied the retracement tool. The count were easy with other measuring tool.
Looks copper movement could have reached leg 3 like that in Gold. If it is same, then it may come down for the leg 4 formation.
Om Namah Shivay
Bearish butterfly on mcx copper Potential reversal zone 625-626
expecting to test 616
view negated above 630 daily close
Thanks
Jigar Pateel
8898030401
MCX Copper in a Temporary Pullback (EWT)Copper has made the Bullish Elliott wave on the daily timeframe. It's completed the five-wave cycle, ABC correction is remaining. After the 5th wave, the trend started to make the A, and it's still making it. It has to cross 585 - 580 - 560 . After that, It will rise for a short period to make the B. And it will fall again to make C. But all over, it's an uptrend.
Copper - Raising Wedge patternPrice almost at its previous resistance levels (2018 resistance, dotted line) by forming a Raising Wedge pattern and you know what I mean, but don't jump in and short the price until it reaches the levels else if one is aggressive in kind short and have your stop above the previous high candle with buffer.
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example of Range Trading Strategy In this chart,
Price is making a particular range and this is the example of range trading strategy.
We can take entry when price breaks the range and PRICE close above or below the Range.
I will make study so Trader can use and take profit from this Strategy.
If You Own MCX Copper, Look Out Below MCX Copper is playing under a parallel channel. Currently, it's at the support trendline. Additionally, there's a Fibonacci retracement value of 0.886 .
The best trading strategy for the day traders is:
According to a moving average and parallel channel's support trendline, copper is strongly bullish. It can show us an all-time new high before the end of this month. So, the day traders can buy for the levels of 536 - 540 - 556+ .
Important - Due to the election of the USA.
From where it starts collapsing?
You can sell the copper at/below parallel channel or Fib retracement value 0.886 for the targets of 516 - 506 .
