XCUUSD trade ideas
COPPER-1.36 ahead in bigger picture for wave (W) !Disclaimer :
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 analysing the pair and labelling 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.
I am a 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 labelling according to the price action.
All labelling 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
Copper: Our next up target is 4.4805The RSI is above 50.
The MACD is above its signal line and negative.
The MACD must break above its zero level to trigger further gains.
Copper (CME) (H2) is above its 20 and 50 period moving average (respectively at 4.4055 and 4.4080).
Our preference: Our next up target stands at 4.4805.
Alternative scenario: The downside breakout of 4.3815 would call for 4.3455 and 4.3235.
Copper Long Idea After Copper managed to rise to the 4.775 area in late october, the price has been range bound and in a slight downtrend. Price has been trading between 4.19 and 4.50 since this time, Copper is currently trading at 4.294 and appears to be moving to up to potentially retest the 4.42 area and beyond. The RSI indicators on the 4hr chart are around oversold terrorties at 37, but its the price action that has formed on the trend line that indicates to me other buyers are looking to go Long from this point. Since the 17th of Novemebr the price has been forming higher lows and respecting the upwards trend line. The stop loss area for this trade is at -2.45%, around the 4.195 area.
Copper Triangle BreakoutCopper had a triangle breakout few days ago, it is providing a long entry again as the price is currently retesting the breakout post having a minor correction. Risk reward remains highly favorable given the current setup.
Copper Long EntryCopper has Fallen in price towards a key support level as well as a trend line that has been respected multiple times. The RSI levels are also in oversold conditions at the moment, with all of these factors in play it seems likely that the price will go up from here. The targets for copper to the upside are at the recent highs of 4.4420 which is a heavy liquidity zone. The stop loss area for this trade is at a recent low of 4.052.
COPPER - Forecast (sell then buy)/*Take it at your own risk*/
Price Action: Price has been extremely bullish from the 19 March 2020 to the 10 May 2021. We can see almost a year of bullish momentum. From the 10 May 2021 price seems to be correcting and allowing sellers to sell. If we are correct with the bullish momentum then we will be looking at buying when sellers are confident in there bias. We might see it happen around that buy zone box.
Technical Analysis: Looking to complete a regular flat following that downward channel. I believe that price has been accumulating buy orders within that blue box to validate the sell.
Fundamental Analysis: Have an eye on the news or economic calendar....
Manage you risk always
Trade idea with LT
Copper chart updateAs we can see clearly the very nice megaphone and the test of the bottom again. To me looks like POC is holding and my bias is to the upside and a possible breakout.
This is my own opinion though.
Key points are highlighted to both up and down sides and clear points to watch for easier decision making.
As always good luck and patience is the best indicator in your tool bag.
I NEVER EVER HAVE FOMO as there is always a great trade to be had somewhere.
Reduce your risk by increasing your patience
COPPER (XCU/USD) – Week 46 – Heading towards the resistance.In the coming week, we anticipate the price to reach the resistance area highlighted on the chart. We expect this move to have corrective nature.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
New trading Strategy upgrade -Hi traders, this is my personal trading idea only. Please give an AGREE/ LIKE, my trading strategy is Price Auction - using Chart only, your comments are highly welcome. My chaos drawing is not to predict and guess the further, it is my plan where we are on the chart and how we shall trade on what we see. Trade well & Good luck guys.