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HG1! trade ideas

Elliott Wave View: Copper (HG) Correction in ProgressShort term Elliott Wave View in Copper (HG) indicates that the metal has ended the rally from March 19 low at $3.218. The entire rally is unfolding as a 5 waves impulse structure. The 5 waves move higher ended wave ((1)) at $3.218. Wave ((2)) pullback is currently in progress to correct cycle from March 19 low in the sequence of 3, 7, or 11 swing before the rally resumes. Down from wave ((1)) high at $3.218, wave ((i)) ended at $3.126 and bounce in wave ((ii)) ended at $3.161. The metal then resumed lower in wave ((iii)) towards $3.077 and bounce in wave ((iv)) ended at $3.1125. The metal is expected to end wave ((v)) soon which should also complete wave A in higher degree. Afterwards, it should rally in wave B to correct cycle from October 21 peak before turning lower again. Near term, as far as pivot at $3.218 high stays intact, expect rally to fail below there in 3, 7, or 11 swing for further downside. The larger degree structure as explained in the video suggests the metal has broken higher from multi decade consolidation which implies a bullish outlook. Thus, the anticipated correction/pullback in wave ((2)) is within the context of a bullish market.
COMEX:HG1!
by Elliottwave-Forecast
The major Exchange Traded DerivativesChina continues to privatize companies, open its markets to foreign investors, and develop relations around the future silk road. In 1 month China is launching its international Copper future. It sounds interesting but I do not know if individual investors care enough for this future to be available with my broker, maybe IG will have it. As the USA declines (and perhaps Europe), China might become the "hub" for commodity derivatives (thinking of industrial metals and agri), if this is the case I expect retail traders and their brokers to catch up in only a decade or two (seriously). For this occasion let's look at the most traded derivatives around the world. 1- Agriculture *It is a non-profit, self-regulating and membership legal entity established on February 28, 1993 (when China opened itself to the free markets and emerged out of poverty). Non-profit because that's evil capitalism. Nothing is free though. So who pays? The average chinese factory worker? Haha! Back in 2018 they started opening up to foreign investors (Iron Ore, a little after their Oil contract that was the first one ever open to foreigners), the exchange also has an english website: www.chinadaily.com.cn **The Zhengzhou Commodity Exchange (ZCE) is China's first futures exchange,   Zhengzhou Airport Economy Zone is China's first Airport Economy Zone.   Zhengzhou is not a SPECIAL economic zone, it is only an economic zone. Unsurprisingly China is not big on "financial" products (interest rates & equity index) but they are big on more basic things: Agriculture & Mining. 2- Energy So ye Moscow, NYMEX (CME), and London ICE mostly. 3- Metals 4- Equity Index How many contracts would you want? Yes. India and Brazil are at the top of the list. India is famous for its overvaluations and many gambling bagholders, and Brazil for its large numbers of gambling day traders. Stocks and stock indexes (and ETFs) have by far the most individual investors, as those are supposed to be more noob friendly due to having a much lower skill floor. Think of it (lol players) as Yasuo, Master Yi and Volibear mains. For HOMM the equivalent is 3 months afk farm Necro on a giant map. They have been convinced that it was a positive sum game where everyone can make easy money. There are 2 major categories of retail investors: bagholders & day gamblers. They both consistently lose. Due to the power of compounding day gamblers lose money much faster than bagholders, which is why people advise individual investors to stick to bagholding. Bagholding also gives people more time to think it through and quit with some of their money left, while day gamblers will have lost most of their money before the initial excitement has waned off. 5- FX 6- Rates 7- Other No idea what all of this mess is. For my part I only trade a couple of those: 3 grains, 2 metals (Gold Copper), Texas Oil & NatGas, all on the CME (7 total, with some correlations). Sometimes I look at softs on the ICE and Nickel on the LME but I don't really touch them much. Rarely will get into indices, I do follow where they are going from far away. I actually am active in the smallest derivatives that make 7.4%, 5%, 4.9%, 1.6% and 1% while avoiding equities that make 50% :D But I do Forex alot, got around 10 currencies in my watchlist. With correlations and everything I would say FX is about twice to thrice as big as commodities for me. There is already plenty to do and plenty of good uncorrelated opportunities to go for. With on top of that the occasional Bitcoin or major indice or stock bet, I'd say that's about as far as someone can push it with just being coinflipping. I know that professionals hold stocks for quarters or years, Forex for a few days or a few weeks, retail just day trades everything, and I do not know for indices and commodities and rates. But I know commodities sort of behave much more like FX than equities and open interest fluctuates similarly so I would say we are looking at weeks to month in my opinion, for professionals of course, retail just day trades everything they'd day trade overnight swaps and EOD indexes if they found a way. There are alot of those futures. More than enough to have your hands full. Might have some bubbles in China in the future and if this is the case I'll be the first to know way before mainstreet gets all excited and rushes in at the top (and push it higher) as they often do. In July 2019 ZCE Apples (bigger than CME Corn) gapped down by 40%. I am not ready for this. Unless they have some "fair and profit-free" options :D I wouldn't mind getting some surprise 40% infinite gains with tiny limited losses. I guess they are not big on "evil profit driven too abstract for me to understand" speculation. Haha so how are their behinds after that 40% gap with no speculator to absorb the risk? 😉 There HAS to be broken flaws to exploit in the future. Maybe when that happens they will rollback all trades "for fairness" silly commies. Well too early to tell, we will see.
COMEX:HG1!Education
by MrRenev
2
HG - Copper futures - Elliott wave analysis Welcome guys, CycleWave is the top author sharing trade ideas based on EW analysis since last five months on the global stocks, currency pairs, cryptos, future indices and commodities. You can follow us to get more trade ideas/analysis. HG - Copper futures - It seems in the final 5th of 5th wave from major bottom and might be one more high away to end the final wave. So wait for more price action and don't consider it as buying opportunity, because it may turn bearish if the count is about to finish. Alternatively it can extend the up move. So overall price remains choppy to bullish until price stays above 3.0965 and it turn bearish if price broken down below 3.025 level. Give thumbs up if you really like the trade idea.
COMEX:HG1!
by EWFcw
COPPER FUTURES : A NEW BULLISH POTENTIAL ?ENGLISH - Prices have been registering lower highs and higher lows, trading inside a consolidation pattern since 2009, the long-term trend is then neutral. - More recently, the market rebounded for the second time over 1.9735 with a strong bullish acceleration which led prices to a clearing of their long-term bearish trendline (dotted line). Volumes are globally on the rise while the RSI is now back inside its buying zone following a solid clearing of its 50% level. - This is a bullish situation. Even if a pull-back over the 2.9680/2.9725 zone remains possible, the recent trendline clearing has unlocked a new bullish potential towards 3.3000, 3.6150, and the 4.0000/4.0715 zone by extension. NB : From a fundamental point of view, renewable and other alternatives energies need a lot of copper to be conceived. the transition between fossil energies and renewable energies is likely to have an important positive impact on Copper’s demand in the months/years to come. FRANÇAIS - Les prix ont enregistré des creux de plus en plus hauts et des sommets de plus en plus bas, se traitant à l’intérieur d’une figure en consolidation depuis 2009, la tendance long-terme est donc neutre. - Plus récemment, le marché a rebondi une seconde fois au-dessus des 1.9735 propulsé par une forte accélération acheteuse ce qui a conduit les prix à une rupture haussière de leur ligne de tendance baissière de long-terme (pointillés). Les volumes sont globalement orientés à la hausse et le RSI se trouve désormais dans sa zone d’achat suivant un franchissement franc de sa zone des 50%. - Il s’agit donc d’une situation acheteuse. Même si un pull-back au-dessus de la zone des 2.9680/2.9725 reste possible voir probable, le récent franchissement de la ligne de tendance baissière a débloqué un nouveau potentiel haussier vers 3.3000, 3.6150 puis vers la zone des 4.0000/4.0715 par extension. NB : D’un point de vue fondamental, les énergies renouvelables et alternatives demandent beaucoup de Cuivre afin d’être conçues. La transition entre énergies fossiles et alternatives a de grandes chances d’avoir un fort impact positif sur la demande de cuivre dans les mois/années à venir.
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COMEX:HG1!Long
by PierreVeyret
2