Cme!
Copper: just some infosHi Guys,
Interesting time for copper!
Chinese smelters and global miners meet every November to negotiate the annual benchmark for the following year’s TC/RCs.
Miners pay treatment and refining charges (TC/RCs) to smelters to process concentrate into refined metal. When supply is scarce, refiners have to charge less to attract what they need.
This comes when an unofficial Chinese ban on Australian copper concentrate imports could hurt Chinese smelters in their negotiations with miners on benchmark treatment charges for 2021, traders and analysts said.
While Australia is not a big supplier of copper concentrate to China, the row comes as supplies from South America have been disrupted by the coronavirus epidemic which looks set to erode the bargaining power of smelters in China to buy for next year.
On Monday the Candelaria Union will decide how to carry on the strike commenced at the beginning of October that disrupted supply.
From a technical point of view to note that despite the divergence between price and sentiment, the commodity keeps pushing towards the 3.2 level. Will it drop from this level or will it continue higher?
Please share your view in the comments below.
Thank you for your support and for sharing your ideas.
Cozzamara
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumstances.
BTC1! cme still respecting channelthe spike to 11.7k yesterday created a gap but priced remained bound to the ascending channel. The gap was closed and more downward price action is expected given the bearish divs on the HTF and price crossing the midline of the channel.
The objective is gap closure at 10.5k, but price action can go deeper to the POC which is confluent with the 4h 200ema.
Only uphill? I think so. Long BTCGood time.
Well - my medium-term price of bitcoin - works for all 99.9%
You can view it here.
"Expect a flat and up!" BTC/USDT - LONG ? WHY?
At the moment, I can only write you what I expect a price above 11,500!
Why higher than now???? - because we are heading to the CME price threshold.
Don't forget to trade with stop losses.
For me, such growth is strange, without any adjustments.
Don't forget to trade with stop losses.
For me, such growth is strange, without any adjustments.
at the moment, I insure myself against a sharp price drop. and set the stop loss at 10950.
All to you good trades, and only with profit!
OR WE TAP $9600 (cme gap) ~ supply zone, bouncing to 16kIf $11,100 is the top it just proves to myself sticking to the plan is the right move (just need to enter initially with less size & DCA in slowly)
We just wicked above the 3rd validation point in the downtrend but a wick down to $9600 (cme gap) which is an area of interest considering it's obviously a potential massive buy zone (which could send us to $16,000)
That would mess with everyone and most people would get liquidated or miss the bounces or a violent move to the downside before we continue up towards ATH and current resistance level at $12,490.
I've shared both sides and bias, now you can decide which you like more and go with that.
Are you bullish or bearish friends?
WILL BE CLOSING MY LONG & ENTERING MY SHORT FAIRLY SOON...After 4 HR close on red bearish full body candle for some confirmation of a short incoming trade,will look for some volume to make sure this is not a double FAKE OUT , so far we have gotten rejected 11 times/FAILS at the new resistance level @ $11100.00 0n the 1 HR not being able to kick thru and move higher and finish this bullish fake out , so i believe we are going lower and will be closing the CME gap @ $9600.00 , maybe not tonight while the market is still consolidating and making up its crazy mind but it should close the gap soon after at market open Monday morning or soon after as it always fill sooner then later the market riggers/whales are very impatient
BTC1! cme in a ascending triangleCME failed to close the gap that opened this week, instead price heading in the opposite direction. As it happened before price will reverse and fall to close the gap. If price maintains within the ascending triangle then price action is bullish and upward trend will resume.