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E-mini Copper Futures

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QC1! trade ideas

Copper Futures (HG1!), H4 Potential for Bearish DropType: Bearish Momentum Resistance: 3.5875 Pivot: 3.3815 Support: 3.2415 Preferred Case: The H4 price is in a downward trend and crossing below ichimoku cloud . The price is consolidating now, if the price can break the consolidating area, the price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits Alternative scenario: If there is a price reversal, price will move to 3.5875, where the swing highs and 78.6% fibonacci retracement are. Fundamentals: There are no major news.
COMEX:HG1!
by Tickmill
Copper Futures (HG1!), H4 Potential for Bearish DropType: Bearish Momentum Resistance: 3.5875 Pivot: 3.3815 Support: 3.2415 Preferred Case: The H4 price is in a downward trend and crossing below ichimoku cloud. The price is consolidating now, if the price can break the consolidating area, the price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits Alternative scenario: If there is a price reversal, price will move to 3.5875, where the swing highs and 78.6% fibonacci retracement are. Fundamentals: There are no major news.
COMEX:HG1!Short
by Genesiv
BEAR FLAG In the context of technical analysis, a flag is a price pattern that, in a shorter time frame, moves counter to the prevailing price trend observed in a longer time frame on a price chart. It is named because of the way it reminds the viewer of a flag on a flagpole. The flag pattern is used to identify the possible continuation of a previous trend from a point at which price has drifted against that same trend. Should the trend resume, the price increase could be rapid, making the timing of a trade advantageous by noticing the flag pattern.
MCX:COPPER1!Short
by kartik89bhatnagar
Copper Inverse Head and Shoulders December Copper has been trading in a range since the big breakdown at the end of June, and a lot of the downward action has come from negative Covid news out of China along with the dollar pushing higher. As we look at the dollar potentially having a blowoff top and the inverse head and shoulders pattern, there could be a push higher toward the 50-day moving average, also aligning with trendline resistance. Continued bearish news out of China or the dollar continuing higher would hurt copper and could drive the market to the bottom end of its current range.
COMEX:HGZ2022
by Ryan_Gorman
Copper Futures (HG! ), H4 Potential for Bearish MomentumType: Bearish Momentum Resistance: 3.5875 Pivot: 3.3815 Support: 3.2415 Preferred Case: The H4 price is in a downward trend and crossing below ichimoku cloud. The price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits Alternative scenario: If there is a price reversal, price will move to 3.5875, where the swing highs and 78.6% fibonacci retracement are. Fundamentals: There are no major news.
COMEX:HG1!Short
by Genesiv
Copper Conflict setup!Copper is prevailing at current price of $3.4560 lbs. Futures contract name in Pmex: Copper-DE22. As above you can see Conflict area of HMA and Trend line where prices are consolidates and indicates continuation of bearish Trend is going to exhaust. False breakout: If market makers will use shady methods to manipulates than you can see false breakout, which leads to 3.2460 or in other words you can say Double bottom. Recommendation: Buy from current price: 3.4560 (Partial lot). Incase of false breakout Buy another partial lot at 3.2460 Takeprofit with first lot at 3.5802 and second with 3.8501 Risk Warning! Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital.
COMEX:HG1!Long
by usmand
Copper’s many tangosIn the following charts below, we will highlight why copper looks interesting to us right now. Firstly, the Copper Outright prices (orange) vs the Calendar spread (black). Copper calendar spread tend to move in-line with its outright prices, until major turning points, when the calendar spread leads the outright price movement. In February 2022, we observed the copper calendar spread making a significant move lower, with the outright prices following suit in April. With the calendar spread making a significant move higher now, is this what they call déjà vu? Secondly, copper prices and the Chinese Yuan have a relatively high correlation as China is the world’s largest buyer of the metal, and by a significant margin. The recent weakness in the Yuan has led copper prices lower, but with the CNYUSD pair seemingly recovering now, could some strength in the Yuan lead the copper rally? Thirdly, the Gold/Copper ratio generally trades within a pretty defined range, with out-of-range moves happening during major market events. The ratio’s recent high can be attributed to copper weakness compared with gold. With signs of the ratio retracing off the upper range, have we marked the end of this move? And is it time for copper to gain some ground against gold? Looking at the price charts, we see copper trading near the significant long-term support level of 3.3. Previous attempts to break this support in July and September were both rejected. On a shorter timeframe, we see a descending wedge pattern forming, which is generally considered a reversal pattern. The same setup is also observed on the Micro Copper contract, which offers greater flexibility and precision in execution. Copper’s interesting relationships with major currencies and commodities, allow us to analyze it from multiple angles. With some relationships at major inflection points now, we lean bullish on copper. Entry at 3.44, stop at 3.1335. Target at 3.8320 and 4.0000 . If you’re keen on understanding more about Copper and its many relationships, do check out our previous research piece: www.cmegroup.com The charts above were generated using CME’s Real-Time data available on TradingView. Inspirante Trading Solutions is subscribed to both TradingView Premium and CME Real-time Market Data which allows us to identify trading set-ups in real-time and express our market opinions. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios.
Editors' picks
COMEX:HG1!Long
by inspirante
13
Copper Futures ( HG1! ), H4 Potential for Bullish MomentumType: Bullish Momentum Resistance: 3.5460 Pivot: 3.4400 Support: 3.3850 Preferred Case: The price is crossing the ichimoku cloud, if the price can break the cloud successfully, we can expect the price rise to the 1st resistance at 3.5460, where the overlap resistance and 61.8% fibonacci retracement are. Alternative scenario: If bearish momentum persists, expect price to continue falling towards the first support level at 3.3850, where the previous swing low is. Fundamentals: There is no major news.
COMEX:HG1!Long
by Genesiv
HG1! Copper shorts again?Copper looks bearish also in hand with major indeces. There's obvious correlation between those. Wait for lower time frame confirmation, im not entering this position yet. It friday and we got Monthly Close. In this case, it makes sense to see price rally higher to create judas swing to create O and H phase of OHLC (Open, High, Low, Close) Bearish Monthly Candle. After OH, we expect L to be formed, thus we expect displacement - expansion lower.
COMEX:HG1!Short
by Trader_Ptr
Copper Futures ( HG1! ), H4 Potential for Bullish MomentumTitle: Copper Futures ( HG1! ), H4 Potential for Bullish Momentum Type: Bearish Momentum Resistance: 3.4025 Pivot: 3.3610 Support: 3.2545 Preferred Case: On H4, with the price moving below the Ichimoku cloud and descending trendline, we have a bearish bias. However, price is resting on the 1st support at 3.2545 where the larger 78.6% Fibonacci line and 127.2% Fibonacci extension line lies. Expect a possible pullback back up to the Pivot line at 3.3610 where the previous swing low lies. Alternative scenario: Alternatively, the price may continue the bearish momentum and break through the 1st support and head towards the 3.1335 level where the previous swing low lies. Fundamentals: No major news
COMEX:HG1!Long
by Genesiv
Copper will melt your mindHello friends. This is our primary count for copper futures. We are extremely bullish. It's zoomed in, so here is the bigger picture: We have 2 key Fibonacci levels as well as the volume profile all indicating that the peak for copper will come in at ~$4.20. In fact, we would expect that it will come in at *exactly* $4.20 because the market manipulators running this show have a crass sense of humor illustrated by them forcing Bitcoin to make its peak at 69k. On the Binance chart, to the PENNY, Bitcoin was $69,000.00 at the peak. Some call it an odd coincidence, but we don't really believe in coincidences. The manipulators mock the consistent and repetitive stupidity of retail traders on the charts they create, and they are all too oblivious to notice. That target represents a substantial 25% rally from here, and for a huge market like copper, risk assets will all benefit from its rising prices (save for perhaps businesses that use copper as a key input). This is illustrated by the significant positive correlation between copper and the stock market. Another thing to look at for this trade is the fact that we are quite likely (although not certainly) forming what we like to call the "Scam Bottom" pattern. It's simply Wyckoff without all of the bullshit. To extrapolate on this further, Wyckoff's theory claims that a market manipulator must always follow a needlessly complicated chart diagram. This diagram is always misunderstood by retail traders. This is because market manipulators, to the dismay of retail traders, do not follow a perfectly neat and infinitely repeating fractal pattern every time they extract money from the markets. Instead, they follow a general set of ideas. Most importantly, they maximize profits by triggering the maximum amount of retail stop losses at optimal prices. Here is how they form a Scam Bottom pattern (invert for a Scam Top): Make a substantial low in the market Push price away from the low Push price back to the low Break through the low very briefly to stop out retail longs Rapidly push prices higher That seems to be playing out in the shorter term right now: Trading plan: We need to see a rapid reversal from this low in order to confirm our idea. Until that happens, we do not have a position in copper. If that happens, we will long copper. If the price sits there and waits, we may cancel the trade altogether. Once we get a long on copper, we will put a take profit at $4.20, and a stop loss below the local low.
COMEX:HG1!Long
by bowtrix
1
Copper9. 21. 22 copper looks like it has the potential to move a lot lower. the best trade location for short trade is above its current price. if for some reason the market finds buyers for a while and moves closer to where it reversed, it might be hey prudence. Wait for the market to correct a little bit higher to lower your risk because you're closer to where the stop should be if you were short. It's always a problem for me when the patterns showed me a good reversal point, but now I see the trade thousands of dollars lower. Sometimes it pays to just wait, and the market will give you another chance.
COMEX:HG1!
by ScottBogatin