Copper At 4h.chart copper is in consolidation zone atm. There is a potential ABC pattern upwards and potential DT downwards. I am waiting for a breakout to one or another way. Possible scalping between two red zones I have marked.
LRCJ2025 trade ideas
COPPER Bottomed Out: Long Opportunity!Going Long on Copper:
I’m taking a long position in CAPITALCOM:COPPER at this level. If it retraces, I plan to add to my position down to around 4.15.
The weekly downtrend has ended, and this week’s price action has erased the previous bearish expansion bar. There are signs of bullishness on smaller timeframes, and the daily chart shows an active uptrend for the coming week.
It looks like the low may be in on this one. COMEX:HG1!
COPPER READY FOR ALL TIME HIGH...MCX:COPPER1! trade at 812 level. Chart shows that its break a trendline on daily chart. So you can watch for an upside move...
Smart Money Positioned to LONG Copper - COT StrategyDISCLAIMER: This is not trade advice. This is for educational purposes only to demonstrate how I am looking to participate in this market. There is significant risk involved in trading, do your own homework and due diligence.
COT Strategy
LONG
Copper (HG)
My COT strategy has me on alert for long trades in HG if we get a confirmed bullish change of trend on the Daily timeframe.
COT Commercial Index: Buy
Sentiment: Advisors very bearish is actually...bullish.
OI Analysis: Multi week down move has seen OI decrease drastically while Commercials have added to longs = bullish.
Valuation: Undervalued vs Gold & Treasuries
Bullish Spread Divergence
Supplementary Indicators: Acc/Dist & %R
Remember, this is not a "Long Now" idea. These indicators are not timing tools. They simply tell us that this market could have a move of some significance to the upside, which we will participate in with a confirmed Daily trend change to the upside.
Good luck & good trading.
Copper Technical View Copper Technical View:
- Short term copper looks bullish till it is able to hold above $4.0420. Key resistance now is at $4.3170. If prices are able to sustain above these levels we can expect the next resistance area in the supply zone around $4.4770.
- RSI is up at 59.92 which is adding to the bullish move.
- Intraday support is around $4.2830 and break below this level may see prices slip towards $4.2370-$4.2320 zone.
- Short term strategy is buy on dips around $4.2320-$4.2330.
- Weekly time frame indicates flat to bullish trend. Prices may move towards $4.3580 and key weekly resistance is at $4.6995. Break above these levels we can expect good upside move towards $5.0450 zone.
- A move above $5.1990 will lead to longer term bullish trend.
- On a Monthly time frame, we are moving in a swing bearish leg at present while the order flow is bullish. Only after a break below $3.9200 trend is expected to turn bearish. Monthly resistance is at $4.7035.
Wait for Reversal in Copper Future MCXMCX:COPPER1! trade at 780 level. Its now doing a major correction but in long run moving upward side, so you can wait for reversal or play some downside move till 750.
COPPER Rejected on the 1D MA50. Will it rebound or break lower?Copper (HG1!) got rejected yesterday on the 1D MA50 (blue trend-line) for the first time since early July. This is a clear Bearish Leg on a potential Channel Up pattern, so technically, it may form a bottom on its Higher Lows trend-line and rebound.
If it does, our Target will be the 0.786 Fibonacci retracement level at 4.900 as on the January 17 2023 rebound. If on the other hand the price breaks below 3.800 and the Higher Lows (dotted) trend-line, we will take the loss on the buy and sell, targeting 3.3500 (top of 2 year Support Zone).
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COPPER HG1! (COMEX) Long D1Buy Stop @ 4.2355
S/L @ 3.9155
T/P1 @ 4.5535
T/P2 @ --------
R.R.R. @ 1/1
Pure Price Action Trading based on Breakout Key Level.
Good Trading !
copper futures long term playas seen the market broke trendline i will wait for a higher high or break last wick this is a long term play
Break out soon in MCX CopperVolatility compression seen in MCX Copper. Also we can see the Inverted Head and Shoulders pattern and price trying to break the Flag. Once the flag break out happens successfully, then there can be a big rally in MCX Copper.
Supply Risks may support Copper Financial Futures PriceSupply Risks may support Copper Financial Futures Price
Dow Jones News Wire August 16,2024 :
"Base metal markets are digesting weak Chinese industrial output data and supply-side issues,
A strike at BHP's Escondida copper mine in Chile could affect more than 5% of the global supply, while several mines in Chile have yet to finalize wage discussions
Even a slight loss in supply from these labor negotiations could cause the market deficit to increase. That is capping concerns about weaker demand over the next few months"
Extreme Real Value Indicator gives reversal signal on the weekly chart.
Price Target levels are shown on the chart.
20240815 HGU20241) Did I follow my plan?
A) Entry
B) Exit
2) What mistakes did I make?
3) What could I have done better?
4) What rules will help me with the above?
CopperCopper has made an inverted H&S,if this pattern will succeed I have marked possible targets. Longs only if the neckline will break and price sustains above it. So far it has broken immediate downtrend.
Price levels that induce Fomo #1These price levels are dangerous for retail traders. They are highs and lows of price strucutre. They are walls where price has bounced mutlitple times. They are prices where some traders may begin to chase price in attempt to catch the trend and not miss out. At the same time, they provide great entries for mean reversion traders. Watch and Learn and safe trading.
copper mcx update edu pur. copper watch 762@ as per recent weekly high low retrace if mkt stya blw thna nxt dn side expect 740--718 possible or mkt come dwn or hold abv 762@ than mkt dedicate bounce 800-813 thna after new high possible dontmiss it breakout
COPPER signaling the start of rate cuts? Potential danger ahead.Copper (HG1!) completed two straight red months following May's High at the top of the 3-year Rising Wedge pattern. Last time the commodity formed this pattern was back from May 2006 to September 2008. In fact the recent May 2024 Higher High resembles that of May 2008, whose rejection broke the Rising Wedge downwards.
As you can see, during both patterns, the US10Y (orange trend-line) stopped rising and turned sideways on Lower Highs, while the U.S. Interest Rate had peaked and started falling.
What 2006 - 2008 suggests, is that possible rate cuts may be ahead of us, pragmatically the markets have already priced this to a large percentage in September. But at the same time, it highlights the danger of a market-wide collapse, as the first month after the September 2007 rate cut, the stock markets peaked and the U.S. Housing Crisis begun.
What could be different this time and avert a new financial crisis of such proportions is that the stock markets haven't shown any signs of correcting yet. As a result, potential rate cuts may have a mostly positive bullish continuation effect as post July 2019.
What do you think will happen next? Bullish continuation or new Bear Market?
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Copper (HG) - Look for Longs?While the decline in copper persists, @HG is nearing areas of previous demand on intermediate-term timeframes. Specficially, we will be watching the industrial metal's action between the prices of 4.1130-4.0605 (with hypothetical stop lower @ 4.0250). Given the current momentum and potential add'l downside per larger timeframes, we recommend watching for micro-TF trend violation/reversal confirm signals before establishing positions. This idea is bolstered by a backdrop more broadly of metals having pulled back and a AMEX:USD that looks vulnerable vs. physical assets over the longer-term. Of course "Dr. Copper" is more closely linked to the global economy vs. GC (which we like better), but price, ultimately, remains undefeated + copper will become a value buy at some point...
Godspeed,
JHart
COPPER ANALYSIS
The market from May 2021 have been corrective in nature, I am currently counting as expanded flat for intermediate wave 2. The market is currently in minor wave C which will be bearish impulsive wave. If this count is valid, it will drop the market to the price range of $2.8290 to $3.1555 per lb. i.e 0.5 to 0.618 fib level retracement of intermediate level 1. The market still remains the final arbiter, and the count will be updated as the market progresses.
Copper (HG) Double Three Elliott Wave Correction in ProgressShort Term Elliott Wave View in Copper (HG) suggests that correction from 5.20.2024 high remains in progress. The internal subdivision of the correction is unfolding as a double three Elliott Wave structure. Down from 5.20.2024 high, wave (W) ended at 4.305 and rally in wave (X) ended at 4.7015. Wave (Y) lower is in progress as a zigzag structure. Down from wave (X), wave ((i)) ended at 4.551 and rally in wave ((ii)) ended at 4.657. The metal then extends lower again in wave ((iii)).
Down from wave ((ii)), wave (i) ended at 4.476 and rally in wave (ii) ended at 4.6025. The metal turns lower again in wave (iii) ended at 4.2 and wave (iv) rally ended at 4.242. Wave (v) lower ended at 4.162 which completed wave ((iii)) in higher degree. Rally in wave ((iv)) is currently in progress to correct cycle from 7.10.2024 high in 3, 7, or 11 swing before it resumes lower again. Near term, as far as pivot at 4.701 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside. Potential target lower is 100% – 161.8% Fibonacci extension from 5.20.2024 high. This area comes at 3.6 – 3.81 where support can be seen.
copper mcx chart analysis blw edu pur.yes copper melted like ice bwl 860 hope u enjoyed now double bottom support looks 830 near if mkt hold abv than again dedicate bounce expect till 850-60++++++ or if break this pattern than more slide will continue dontmiss this pattern
Gold's Next Big Move: Is This the Reversal Point?4-Hour Chart Analysis
Trend Identification:
Higher Highs (HH): The chart shows a consistent formation of higher highs (HH) which indicates an overall uptrend.
Higher Lows (HL): The chart also demonstrates higher lows (HL), further confirming the uptrend.
Key Levels:
Resistance Levels:
Around 2,480 and above are marked by HH.
Support Levels:
2,429.42 (1HR LQZ / Reversal Point)
2,391.39 (4HR LQZ / TP 1)
2,349.05 (TP 2)
2,288.09 (TP 3)
2,265.37 (TP 4)
Price Action:
Triangle Pattern: A triangle pattern formed in June indicating consolidation before a breakout.
Current Movement: The price has moved up to a higher high but is currently in a retracement phase, testing the 1HR LQZ / Reversal Point around 2,429.42.
Projection:
Potential Reversal: If the price holds above the 1HR LQZ / Reversal Point, it may indicate a reversal back towards the higher levels around 2,480.
Support Tests: Failure to hold may lead to testing lower support levels at 2,391.39 (4HR LQZ / TP 1) and potentially further down to TP 2, TP 3, and TP 4.
1-Hour Chart Analysis
Detailed View:
Provides a closer look at the recent price movements.
Confirms the higher highs observed in the 4-hour chart.
Key Observations:
Recent High: The price recently reached a new high around 2,480 before retracing.
Immediate Support: The price is testing the 1HR LQZ / Reversal Point around 2,429.42, aligning with the 4-hour chart observations.
Trading Opportunities:
Long Position: If the price shows strong bullish signals and holds above the 1HR LQZ / Reversal Point.
Short Position: If the price breaks below the 1HR LQZ / Reversal Point, with targets at lower support levels identified in the 4-hour chart.
Summary
The charts indicate an overall uptrend with recent higher highs and higher lows.
Current price action is in a retracement phase, testing key support levels.
Monitoring the 1HR LQZ / Reversal Point will be crucial for determining the next move, whether it will resume the uptrend or test further support levels.
If you need further analysis or specific trade recommendations, feel free to ask!
Copper testing 4.50/ATHCopper is testing all time high right now.
I published this idea almost 3 years ago, oh my, trading is not for impatient people :
Currently there is short term speculation that copper buyers might buy a substitute, and news that producers are reducing output. Short term!
The news is the manifestation or what is happening on the chart, or is it the other way around? Both the talking/news/speculation and chart are asking the same question : Is the price actually going to go up, past $4?
People finding substitutes is probably very minor and just an answer to prices getting high, physical buyers are shy - FOR NOW - about buying at all time high. Literally the same as traders. Exact same thought process. Substitutes are not as good, it may only cover something tiny like 3% of the demand.
Also output getting cut pushes prices up, why are producers struggling to maintain margin at these high prices? Maybe everyone needs to stop coping and realise inflation is a reality and bear were right.
I cannnot pinpoint the bottom. Any strategy could work I imagine, buying a pullback when it strats going up, buying breakouts, trying to catch the short term bottom without a stop to tight (or it's just catching falling knives), some macd cross strategy, dollar cost averaging. 61.8% fib, previous high retest, buying on some trendline or moving average. Also patterns such as flags.
From experience I believe the entry strategy isn't that important, what is most important is cutting losses, taking good trades based on an intelligent analysis, and high risk rewards - being able to cut trades quickly regardless of being wrong or right.
No matter the entry strategy I am convinced of two things: No matter the strategy FOMO never works out, and I always use a stop.
I am not 100% convinced it will go way up to $8 or even above 5 but I do not care about being right, I care about taking risks to make money. This caught my eyes 3 years ago and it looks juicy!
