QC1! trade ideas
COPPER showing strength. Buy opportunity.Pattern: Channel Up on 1D.
Signal: Buy as the RSI and MACD are approaching their Support levels, while the 1D MA50 (blue trend-line) is closing in.
Target: 4.200 (the 3.5 Fibonacci extension).
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COPPER -Volatility inbound Most likely will rise (70%) chance, volatility inbound is guaranteed.
Asian stock markets rising fast = Copper demand can grow
Dollar issues = Copper can rise
= fundamentals are for Copper to rise, hence I am buying
Copper (Futures) target 4.40 for wave 3Copper overall looking really good from a technical perspective, slightly shallow wave 2 pullback, but nevertheless, still valid for a 1-2 start. Target for the next top is the wave 3 to around 4.40, followed by a wave 4 pullback to around 3.77, ending in a wave 5 to around 5.42 to complete a 5 wave cycle.
Disclaimer: The proceeding content is informational only and based on information available when created. It is not an offer or a solicitation nor is it tax or legal advice. It does not consider your financial circumstances and objectives and may not be suitable for you.
Copyright Rohan Karunaratne 2021
COPPER - Approaching our first Take Profit LevelI like to set at least 4 take profit levels). Trading becomes really difficult unless you can have the power of patience and the power of taking profits gradually.
This way:
- you don't close in profit too early (oh fuck, i mad 200$ but if i had kept i could had made 2,000$)
- you do take profits along the way ensuring you make something (best trading habit)
- you can change the stop loss at entry (zero risk, you can also calculate the spreads and swaps and do it perfectly)
- if the market reverses against you after at least 1 of the 4 take profit levels has been checked you are guaranteed some profit. Which is still a winner
- you manage to finally create those long-lasting good trades that you opened 2 months ago but they still making you money
Patience is key, Planning is essential, Taking Profit gradually is the Winning Recipe.
ps. there is another element here. To correct your trades early and follow what the chart says. I had to change from sell to buy and I did that efficiently, which makes me happy.
Reversal play #metalsSelling copper here with a stop at 3.7500. After the failed breakout attempt last week I think the metal could reverse lower toward the bottom of the range- 3.4780. Inflation is certainty a topic that is widely discussed and copper has been a big part of the story, but in the near term the rate of change (22 days) has slowed and it is still below the most recent range high after a failed breakout attempt.
COPPER - New flight inbound Copper price continues to form bullish waves to settle above 3.6400 and confirm the preparation of recording new targets in the near term and medium term basis, expecting to crawl positively towards 3.73 followed by attempting to press on the next barrier at 3.7880 to form the next station of the bullish bias.
The expected trend: Bullish
10Yr, Metals, and Rate Sensitive Equities This is one of my favorite comparison chart and is a clean, simple way to show the intermarket relationships and how important the yield environment is for certain other markets.
$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.
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
Inflationary Copper TradeCopper has shown to be one of the most out performing bullish trends of the 2020 year. We consider the need to materials in EV and chip manufacturing. These trends are likely to continue and keeping an eye on this trend will be key for the reflationary trade that has exposed itself as historically probable
Copper futures - HG - EW analysis - Buy set up Copper futures HG - It is in 4th wave correction after impulse 3rd wave finished at previous lower high. The move is WXY correction, where Y is in progress as triangle. One more dip will probably finish the Y wave and so 4th wave. Buy thereafter for new high as 5th wave.
Give thumbs up if you really like the trade idea.
Sell Copper
Target 602/601
Below 600 Target towards 598/595 for short term.
Main stop Loss at 609
* I just shared my view. Please trade with your own and comfortable ideas.*
Copper vs TIP Ratio HIGHLY correlates to Copper MetalCopper Future's Monthly Chart VS Inflation Protected Treasuries
Copper/Gold ratio suggests a move higher for 10 Year Yields. The traditional relationship between the Copper/Gold Ratio and US 10 year yields - which has proven sound over the longer term - is suggesting a potential up turn in US 10 Year Yields. One big caveat on this analysis is the Federal Reserve. Should Powell et al intervene at the longer end of the market, this will upset the ratio and send rates lower, even if demand (and therefore prices) for copper continues to grow next year.
Short copper as RSI and MACD are very high on a weekly chartCopper looks overbought after a 80 % rise since march. Time to sell?
Copper futures forecast.This is not a trading advice idea and you should only follow this with caution or just for your own personal interest in cycles and Gann theory. This post is made by me to test the methods of forecasting I obtained from long studies of the subject. If you will follow this idea and observe the copper market and the forecast will turn out +- 1 trading day right at each arrow date - it has worked and I will continue to post such posts. Thanks in advance.
*Futures trading involves a substantial risk of loss and is not suitable for all investors.
