XCUUSD trade ideas
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.
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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.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
Copper is approaching support, potential bounceWe caught the reversal nicely. Currently prices are approaching our first support where we could see a bounce above this level. The Ichimoku cloud is showing signs of bullish pressure as well in line with our bullish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Copper is approaching support, potential bounceWe caught the reversal nicely. Currently prices are approaching our first support where we could see a bounce above this level. The Ichimoku cloud is showing signs of bullish pressure as well in line with our bullish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Copper is approaching support, potential bounce We caught the reversal nicely. Currently price is facing bullish pressure from our first support where we could see a bounce above this level. The Ichimoku cloud is showing signs of bullish pressure as well in line with our bullish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Copper is approaching resistance We caught the reversal nicely. Currently price is facing bearish pressure from our first resistance where we remain bearish below this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks
Copper is approaching resistance Price is facing resistance where we could see a reversal below this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks
Copper: just some infosHi Guys,
Interesting time for copper!
Chinese smelters and global miners meet every November to negotiate the annual benchmark for the following year’s TC/RCs.
Miners pay treatment and refining charges (TC/RCs) to smelters to process concentrate into refined metal. When supply is scarce, refiners have to charge less to attract what they need.
This comes when an unofficial Chinese ban on Australian copper concentrate imports could hurt Chinese smelters in their negotiations with miners on benchmark treatment charges for 2021, traders and analysts said.
While Australia is not a big supplier of copper concentrate to China, the row comes as supplies from South America have been disrupted by the coronavirus epidemic which looks set to erode the bargaining power of smelters in China to buy for next year.
On Monday the Candelaria Union will decide how to carry on the strike commenced at the beginning of October that disrupted supply.
From a technical point of view to note that despite the divergence between price and sentiment, the commodity keeps pushing towards the 3.2 level. Will it drop from this level or will it continue higher?
Please share your view in the comments below.
Thank you for your support and for sharing your ideas.
Cozzamara
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumstances.
Copper short for the winNo explanation, I'm short from 3.14. Well, for one thing, the Daily was an inside day, that can lead to more volatility and a friday runner.
And come to think of it, 3.14 is pi, but that does'nt play a role in my analysis.
Copper is facing bullish pressurePrice is facing bullish pressure from our first support where we could see further upside above this level.
Trading CFDs on margin carries a high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks
Copper is facing bullish pressurePrice is facing bullish pressure from our first support where we could see further upside above this level.
Trading CFDs on margin carries a high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks
Copper is facing bullish pressurePrice is facing bullish pressure from our first support where we could see further upside above this level.
Trading CFDs on margin carries a high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks
Copper is facing bullish pressure Price is facing bullish pressure from our first support where we could see further upside above this level.
Trading CFDs on margin carries a high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks
Copper is facing bullish pressure Price is facing bullish pressure from our intermediate support where we remain bullish above this level. Ichiomku cloud is showing signs of bullish pressure as well.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks
Copper is facing bearish pressure, potential reversal Price is facing bearish pressure from our first resistance in line with our 50% fibonacci retracement and horizontal swing high resistance, where we could see a further drop to our first support target. Stochastics is showing signs of bearish pressure as well, in line with our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks
XCUUSD facing bearish pressure from 1st resistance !
Price is facing bearish pressure from our first resistance in line with our 38.2% fibonacci retracement and horizontal swing high resistance, where we could see a further drop to our first support target. Stochastics is showing signs of bearish pressure as well, in line with our bearish bias.
Copper Target Price 3.3135 | Bullish Engulfing CandleCopper Target Price 3.3135 | Bullish Engulfing Candle
Copper Target Price 3.3135Entry at Exponential Moving Average (10 Period).
Bullish Flag. Descending Channel. Trend Is Up. Uptrend. Pin Bar Candlestick.
Copper reversed off resistance, potential for further dropPrice is facing bearish pressure from our first resistance in line with our 38.2% fibonacci retracement and horizontal swing high resistance, where we could see a further drop to our first support target. Ichimoku cloud is showing signs of bearish pressure as well, in line with our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks
