$5: Copper Aiming for New ATH One of the best looking and yet under-rated commodities chart has to be of COPPER.
I know Gold and Silver bugs don't usually get strayed with non-precious metals but technicals are surely juicy if you are able to take a multi year position. My guess is it will be early 2023 when we break through the new ATH.
Notice the divergence of price and OBV + a successful 'price action' breakout in the last 3 months. Wait for another 3 months to absolutely confirm the pattern and then off you go.
Even the last two volume candles are strong (>=MA) which shows consolidation under place.
Coppertrade
Copper = Industry (also a hedging opportunity)There is a direct correlation between the S&P 500 and copper performance and they generally move in the same direction.
Copper is much more closely aligned with global growth and demand, so if the global economy is expanding then demand for copper should increase.
In other words, if the stock markets correct or crash the price should drop (now at resistance)
If the stock markets rise more, then very simply Copper will follow.
Hedging idea :
60% Platinum buy (over it's resistance), 40% copper sell (under it's support).
Compound the winner gradually and follow the indices movement.
ps. the indices are most likely correcting, not crashing at this stage
COPPER- Offering us a second chance to SELLThis is our small chart for Copper.
As you can see from previous ideas we were able to sell it at a perfect time right on the mega-resistance . That level is a massive barrier that Copper will find great difficulty breaking.
The take profits are on our previous charts
COPPER - What a lovely morning ☕We called it, it happened.
Price hit the Mega-Resistance and bounced back down, already down 1,4% today. That was personally my biggest trade in value yesterday and it paid off. Stop losses are now at entry and risk is zero but the potential reward is huge, with several take profit levels in mind.
Technical analysis never lies.
COPPER- Our first 3 (of 5 ) take profit levelsWe take profit gradually, always.
Find on the chart our first 3 take profit levels
ps. it takes 1 take profit level for us to secure some profit and then have the stop loss at zero (entry) to secure a guaranteed profit. Try to do the same and your trading will become better. 💌
#Copper - Higher High - Position yourself long term #XCUUSDToday, August 19, 2020, the 2019 April high within wave 1 of wave III was taken out of the market. Whoever wants to earn real money in the next few years, as with gold and silver stocks, can now also position himself with copper or its producers.
I introduced a few in the last YT video.
In my opinion, price setbacks should be used for strategic entry or position building.
Greetings to yesterday's participants from Hayek-Club Hannover
Stefan Bode
Inverted Ascending Scallop ComparisonComparison of TOTAL2 and Copper
Similarities can be seen in the formation of a scallop
This may lead to a bullish C wave breakout on copper
I identify this structure as 'weak' due to its lacking of a strong double bottom and slight downward slope, however it is a good chart pattern for accumulation.
Copper: First Corrective Wave TargetIn "Copper Tempest" (see related ideas), I analyzed the macro-view on Copper. Now it's time to act.
My trade starts from 2.8462 with final target of 2.8125 (end of first corrective wave). Stop Loss set at 2.8537.
Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties.
Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.
I am not a financial advisor.