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CFDs on Copper

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COPPER trade ideas

Copper to move lower.Copper - Intraday - We look to Sell a break We are trading at overbought extremes. With signals for sentiment at overbought extremes, the rally could not be extended. A higher correction is expected. Rallies should be capped by yesterday's high. Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. Short term MACD has turned negative. Our profit targets will be 33510 and 32850 Resistance: 34800 / 35000 / 35200 Support: 34600 / 34200 / 34000
FX:COPPERShort
by Signal_Centre1
COPPER-Completed one a,b,c correction higher TF...Market Commentary: LEARNING ELLIOTT WAVES IS LITTLE BIT TOUGH (FOR ME IN BEGINNING) BUT I TOOK IT AS A CHALLENGE AND THAT IS NOT IMPOSSIBLE ALSO... First have an look for the positional trend i shared here previous....if you are a follower of me...and sometimes i will share the counter trend trade also in 15 mins and 1hr...but that is risky ones...so if the trend is bearish or bullish, if i am expecting the correction...book the profit there and wait the correction to end and again go with the trend....DONT TRADE THE COUNTER TRADE SETUP...you will took loss too...try to identify the short term pull back and the long term pull back after that took small lots in the short term PB with strict stop and go with big lots in the trend side that is long term. I WONT TOOK ALL THE TRADE PLAN SHARED HERE... Read the market commentary inside the chart what i shared here carefully and try to learn Elliott waves...otherwise its tough to understand the market commentary and my analysis. I wont give a entry, stop loss and take profit in my chart...it is only for EDUCATIONAL PURPOSE and i am sharing how i am analyzing the pair and labeling them according to the Elliott wave theory...I AM JUST SHOWING THE TREND HOW IT MAY GO AND MY VIEW(it may wrong too)..so DON'T FOLLOW BLINDLY MY CHART..take this as a reference and if it correlate to you strategy took the trade as per your strategy...DON'T ASK ABOUT YOUR RUNNING TRADES i wont comment on them and I WONT SUGGEST TO TAKE MY TRADE SETUP. My style of trading is different from others and I WONT PLACE A STOP...but ALL MY TRADES ARE UNDER MONEY MANAGEMENT ACCORDING TO MY ACCOUNT SIZE...i wont close the trades even in the BIG NEWS EVENTS OR SCHEDULED NEWS TOO...i am technical analyst based on trendline, channel, fib retracements, expansion, stochastic for divergence, EMA's and MA's are finding the pull backs and MAJOR IS ELLIOTT WAVES...those mentioned above are using as a TOOLS only. I am not a fundamental, sentimental trader...but only the fundamental will boost my technical analysis to reach my target or sometimes it will go against me and then i will manage the trade according to the Elliott waves alternate views... Each and every trade plan i am sharing here has a alternate view and i am sharing only the most probabilities(70-80%) here...sometimes the other (20-30%) may market do..then i will change the wave counts and labeling according to the price action. All labeling and wave counts done by me by manually and i will keep change according to the LIVE MARKET PRICE ACTION. So dont bias, hope on my trade plans...try to learn and make your own strategy...Following is not that much easy...I AM NOT RESPONSIBLE FOR ANY LOSSES IF U TOOK THE TRADE ACCORDING TO MY TRADE PLANS....THANKS LOT..CHEERS
FX:COPPER
by nmkvijay
XCUUSD: Is Copper topping out?I see signs of weakness in the recent price action of copper. 1. There was a significant increase in the daily volume(double!) but price only manage to close in the lower daily range. There's strong selling in the background despite the strong Bulls attempt to push price higher. 2. The next day, price manage to make a higher high but daily closes marginally lower than the day before. Drop down to H8 and you would notice that during NY session, even with the higher volume than London session, price didn't close higher. This is a sign of sellers flooding the market that stops the advancing Bulls. 3. The long daily lower wick that extend beyond the previous day low shows' the intend of sellers to push the market lower but Bulls ended up the winner with the daily closed in the upper daily range. A rejection in the lower time frame to the SZ I drawn would strengthen the sign of weakness and a Bearish daily closed will confirmed the weakness. Will be watching Copper closely for a SHORT trade. DISCLAIMER: Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice. I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. PRICE ACTION only tell half the story. The other key half is VOLUME. For VOLUME drive price.
OANDA:XCUUSDShort
by OFPA_FX
ridethepig | Base Metals StrategyThe linkage between base metals and the rate differentials is unknown to many in the pseudo-classical school of TA, which believe only in absolute correlation; as you all know the supply disruptions and pandemic related closures triggered the waterfall but we are not out of the woods yet...Remember we still have the demand side shock to play into price too, this will allow us to complete a 'wave 2' pullback with an ABC correction. The revisions down in mining supplies was enough to spark an interest in buyers, and now that most believe we have seen the worst from the demand side it is allowing Copper to form a MT and LT base formation. Those tracking the mining projects in Brazil will know the announcements for a restart in operations have already started. This is going to keep Copper and Steel in particular in strong bid. 📍 On the positioning side, after the healthy (in a technical sense) neutralisation of the entire commodity board we have cleared both sides of the extremes and positioning is currently neutral. The majority must not be allowed on this train, or else the threat of an over-crowded wedge would be disastrous. Take for example what happened against Oil, the boat was fully loaded and we got the historic shakeout: Eyeballing a test of 2.3 as the value area to re-engage with bullish exposure. We can then bring about the transfer from the wave 2 retrace into an impulsive wave 3. This will be excellent training for those wanting to dig deeper into wave theory and understand the complicated motifs. As usual, thanks for keeping the support coming with likes, comments, charts and etc!
OANDA:XCUUSDLong
by ridethepig
Copper is heading towards support, potential rise!We are seeing a medium-probability bullish scenario as price approaches our first support area at 3.30102, where we could see a further rise at this level towards our first resistance at 3.34271. It is worth noting that price continues to trend above the Ichimoku cloud and ascending trendline, which shows bullish pressure. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XCUUSDLong
by Tickmill
Copper is approaching resistance, potential drop!Price is approaching our first resistance area at 3.30670, which is in line with the 161.8% Fibonacci retracement level and 61.8% Fibonacci extension level, where we could see a fall below this level towards our first support at 3.23103. The Stochastic indicator is also testing the resistance level at 67.44, indicating that a bearish reversal may be happening soon. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XCUUSDShort
by Tickmill
Copper is approaching resistance, potential drop!We are seeing a medium-probability bearish scenario as price has reversed from our first resistance area at 3.28810, where we could potentially see a fall below this level towards our first support at 3.21852. The Stochastic indicator shows a bearish divergence, which also indicates a bearish reversal. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XCUUSDShort
by Tickmill