Copper Poised to dropCopper pumped in the AM session, took an initial drop going into NY lunch, and now coming into the PM session we're looking for another down leg in copper.
Plus DXY is looking like it's ready to purge out trailers.
COPPER1! trade ideas
COPPER FUTURES Chart Fibonacci Analysis 060523 Trading idea - Entry point > 3.64/61.80%
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 3.64/61.80%
Chart time frame : C
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : A
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern.
When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point.
As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved.
If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks.
If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
#HG #Copper H4 The Set Up For A 4.0000 TestIn this update we review the recent price action in Copper and identify the next high probability trading opportunity and price objectives to target
HG1! One word - CLEAN!COMEX:HG1! One word - CLEAN!
What a beautiful chart for copper! Technically it's ever so clean, when it comes to set ups like this - Be careful of fake breaks.
Pattern - Triangle/Pennant
Highs: 4.2100
Lows: 3.8255
A break of highs I expect: 4.3550 & 4.5570. However, a break of the lows I expect: 3.6740 & 3.5040 and perhaps lower!
Currently, as long as we within this channel and within these ranges... until break either side!
Have a great week ahead & it's a long weekend for some of us!
🔆 Trade Journal 🔆
Copper SHORT Copper short @ 4.115, SL 4.235... Target 3.740 - 3.570... Now trading major supply zone also trading channel edge. If fails to sustain above 4.175 wll start downside move...
Copper Testing Support!Copper is testing major support going back to the lows from July of 2022. Can we hold here and get a nice bounce or will we see a breakdown?
Copper 1997Copper looking dangerously close to 1997.
ARE WE BACK
IN 1997?
stay clear until this is closed above
huge volume defined base (support)
#copper #nasdaq #recession #spx #gold #silver
Copper: Like a Lead Weight ⚖️No worries – we didn’t confuse our metals! However, like a lead weight, copper should continue to sink further, heading for the green zone between $3.08 and $2.59 in the south. Already the price has broken free from the recent sidewards movement and has developed a new low, showing more and more downwards momentum. Once copper has arrived in the green zone, it should complete wave 2 in green, marking a distinctive low, which should then introduce a strong upwards movement.
Key Levels and US Market Review for the Asian session open 22/05Major indexes in the US were weaker as Debt ceiling concern weighs on bulls. European markets ended the week in the green while Asian markets were mixed. Traders will be closely watching news for some sort of agreement on the US debt ceiling once Congress finishes playing politics. For now, I expect a tentative Asian market open and for major risk to remain on the sidelines.
Expecting tentative open on Asian markets with the ASX200 and Hang Seng expected to open flat while the Nikkei to open slightly lower.
Debt ceiling talks and coming economic data will remain the major focus as traders look to anticipate the end to interest rate rises. I expect that the debt ceiling will be raised once again as if they do not, volatility will spike hard and investors will drive Indexes lower.
Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch.
Markets covered :-
DOW
Nasdaq
DAX
FTSE
ASX200
Hang Seng
USD Index
Gold
Oil
Copper
Copper H4 Trading The CorrectionIn this update we review the recent price action in the #Copper futures contract and identify the next high probability trading opportunity and price objective to target
Will Copper find sellers at previous support?XCUUSD - 24he expiry - We look to Sell at 3.828 (stop at 3.868)
Our bespoke support of 3.820 has been clearly broken.
Our short term bias remains negative.
Previous support, now becomes resistance at 3.820.
Preferred trade is to sell into rallies.
We look for a temporary move higher. A lower correction is expected.
Our profit targets will be 3.728 and 3.708
Resistance: 3.744 / 3.770 / 3.820
Support: 3.700 / 3.671 / 3.640
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Copper Weekly setting up for more FreefallLike last June, Copper setting up for a free fall to area of Point C around 680. This area is a thin volume area and likely to offer very little support, and would represent 6.72% further drop from today's close of 729.
Wyckoff Accumulation Patterns - Copper LongRecognized accumulation pattern
A - decreasing volume on lows
B - decreasing volume on lows
The lows in pattern B did not break the lows from A. This indicates that the market is strong and well controlled by large operators. In the lows of pattern B, the last one on the lowest volume forms a very large, bullish engulfing candle.
C - the largest buying wave not only in the entire accumulation pattern but also the largest since the beginning of the decline - showing strength, breaking out of the range on very high volume.
The recent 4h candles on the chart are testing the breakout.
It seems that the pattern is set up for an upward move.
I'm providing two targets...
Indicators used: Wyckoff Wave Chart
What do you think about this chart?
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VolumeDayTrader
COPPER: 4month Support on the 1D MA200. Bullish.Copper is trading inside a Channel Down pattern that is approaching the bottom of a Rising Megaphone pattern. The price is almost neutral (RSI = 44.491, MACD = -0.036, ADX = 22.406), stuck between the 1D MA50 and 1D MA200.
As the RSI is on the S1 Zone as well, the conditions for a longterm buy are pilling up. First we target the Channel Down top (TP = 4.1000) and if we get a daily closing over it, continue buying to R1 (TP = 4.3500).
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MGH1! short 4HMGH1!
the trend is bears market
I m looking for short chances
for now this is the two scenarios
lower low at 3.8550 or reversal at 3.9305
This is my view
only for education
Copper: lifting its head (again)?A price action above 3.85 supports a bullish trend direction.
Further bullish trend confirmation for a break above 4.05.
The target price is set at 4.15.
The stop-loss price is set at 3.80 (200-day simple moving average).
Fading downside price momentum supports the bullish trend.
Also retracting from the lower range of the Bollinger bands.
3rd roundCopper is trading just over the resistance. Looks like is accumulating and ready to break up. You can buy the ETF CPER instead of the futures.
Copper - Set-Up for DeclineI believe copper is set up for a decline in the near term.
Structural price action in the copper futures along with the 2 largest US copper producers stock price structure suggest price decline from this point.
FCX
BHP Group
copper longBuy: 4.730 or lower
Stop: 4.550
Notes: maybe copper will catch up to other metals
The model:
The Ingenuity Trading Model is a Geometric Markov Model with specific inputs related to Price, Time, Volume , and Volatility. The model attempts to predict local minimums and maximums in price on a daily and weekly basis. A fancy way of saying a trading system that detects specific patterns in price, time, volume, and volatility and indicates whether to buy or sell.
On winning trades after 1 day take at least ⅓ of the position off and move stop to breakeven
Copper H4 Triangle Break Trade Targeting 4.252In this update we review the recent price action in the #Copper futures contract and identify the next high probability trading opportunity and price objectives to target
Copper Bullish Cup and Handle FormingHandle forming now with potential to break out over the neckline next year
Copper Futures March April Challange Hello my friends! How is going your trading week? I hope that is doing well, anyways lets talk about this operation!
Bulish: Here we are waiting in the bullish way for a retest on TL that was recently broken, and from there we gonna wait for the retest then a break on the most recent high and the we gonna see if the price gonna reach the closest resistance (DR).
Bearish: Here for the bearish term we gonna wait for the price going back to his last channel and then get in bearish for a channel strategy of selling high and then buying low.
Bull flag pattern A bull flag pattern is a chart pattern that occurs when a stock is in a strong uptrend. It is called a flag pattern because when you see it on a chart it looks like a flag on a pole and since we are in an uptrend it is considered a bullish flag.
Buy copper - 780-782
Target - 810, 821, 844, 865
Stop loss- 755
