Copper buy setupR:R is >4:1 as stop at 886 fib retrace is outside of channel trend so a valid point of stop out.. see chart -- Happy trading ...
Copperlong
DAYTRADE : LONG COPPERWill Long Copper once it breaches above 3.146
This long Idea is active unless low is not taken out. If Low is Taken out and Entry is not Triggered then Trade will be invalidated.
Good Luck and God Bless!!!!!!!!!!!
Dr Copper LongIdea: Copper long at possible support
DISCLAIMER:
This is where I practice ideas and work on my trading techniques. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.
Update idea
Copper Long Term AnalysisLooking for a reason to be bullish copper? You might cite a weak US Dollar, the world wanting more electric cars, or our obsession with telecom...I'm just looking at the chart.
Bullish trend? Check. Support held? Check. Alright lets look for some higher targets! For me I'm looking for an extension to the 3.4500 level. It might take some time to get there but I'm OK with that, there's a lot of sweet bamboo around.
Note: All ideas expressed here are presented solely for learning and educational purposes only. Any gains or losses assumed by trading ideas presented by The Bad Panda are done so at your own risk.
Copper breaks resistance at 3.145, good to long dipsCopper trades 0.41% higher on the day at around 3.158 levels, bias higher.
Price action has shown a decisive break above minor trendline resistance at 3.145.
Daily cloud offers strong support, we see weakness only on break below 20-DMA at 3.105.
Price action chugs higher along rising channel, technical studies are biased higher.
RSI is above 50 levels and Stochs are biased higher. MACD is showing a bullish crossover on signal line.
We see +ve DMI dominance, ADX is rising in support of trend.
Support levels - 3.142 (falling trendline), 3.130 (5-DMA), 3.105 (20-DMA), 3.074 (50-DMA)
Resistance levels - 3.182 (Nov 1 high), 3.236 (Oct 24 high), 3.258 (Oct 16 high)
Good to go long on dips around 3.150, SL: 3.125, TP: 3.175/ 3.20/ 3.230
COPPER Daily Demand - Long in the context of the weekly uptrendAll Trade Parameters shown on the chart. Long setup in Daily Demand. We trade the weekly uptrend
Copper to 3.40 and 3.65 PossiblyCopper has been bullish since the bottoming we pointed out in early 2016. Now 2.90 has become an area of previous structure where we have held up recently printing a pin bar and bullish engulfing candlestick. It is possible we go lower before going up towards 2.70-2.80, but highly unlikely. The next area of resistance will be the 3.40 area and then around the 3.65 area as well.
Copper continuationIdea: Copper continuation long based on bullish RSI swing failure on the hourly chart. The Daily resistance level 2.966 has recently been broken and seen a pullback. Strength in retesting this level could see a possible upside continuation to 3.08325.
Cons: The stop has to survive the Monday open.
DISCLAIMER:
This is where I practice ideas and work on my trading techniques. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.
Asiamet Resources - Consolidation Phase Breakout Expected Soon.2nd phase of consolidation, expecting breakout to be triggered by heavy news flow from further drilling data and feasibility study related data (FS expected early 2018). Soon to enter development phase and popular copper related stock. Stock tightly held and moves quickly on light volume.
Bullish on copperCopper prices has been ranging above the 52 MA while forming a cup pattern, could possibly test 2.9-3.0 with stops below 2.5
Copper breaks major resistance at 2.625, good to go long on dipsCopper has broken above major trendline resistance at 2.625, bias higher.
The pair has broken above daily cloud top which is now holding as good support.
The pair has also closed above 100-DMA on last Friday.
Technical studies support further upside in the pair, scope for test of 61.8% Fib of 2.822 to 2.472 fall at 2.688.
Bullish invalidation on close below 100-DMA. Test of 20-DMA at 2.5791 then likely.
Support levels - 2.629 (cloud top), 2.624 (100-DMA), 2.598 (5-DMA)
Resistance levels - 2.647 (50% Fib), 2.688 (61.8% Fib), 2.693 (May 1 high)
Good to go long around 2.625/30 levels, SL: 2.595, TP: 2.650/ 2.680/ 2.7
Copper looking long on the weekly chart.I think we are in a wave 5 on Copper. Possible target of 2.937 around the 1.272 extension of wave 1 starting from the termination of wave 4.
$XCUUSD $HG_F following $XAUUSDCopper price/action following gold Nov-15 to Oct-16. We are now at Jun-16
Copper Lower Again for a good buying chance?Hey guys,
We expect the market to make one leg lower to around 2.445, BUT only when the market stays below the high 2.70. When this level breaks we will be looking at a move higher to around at 2.776. Our intermarket indication supports our idea of facing south. Critical zone will be the lower range of 2.58! Around 2.444 will be a good buying chance IF market reaches that level. Let's see!
Hope that helps.
Cheers
Good confirmation of long on Copper:Copper Finally showing some good movement. I have re-opened my copper position and will also be looking to get into some BUY positions on the AUD side.
The reason I say it is confirmed now is that it broke back above the 50 day MA, it's above the 50 RSI and the MACD (looks like) it wants to start heading into positive territory.
The only thing to watch is the stochastic, it looks like it may want to embed, or it may be saying that we are looking at sideways movement for a while on this next run up.
Long on Copper - SL 2.5400Finally gone long on copper - I still want to see the RSI get above 50 - BUT - It has maintained above the 9 day MA for the past 4 trading sessions, the stochastic has it moving up, and the MACD did make a positive cross over so I jumped in.
Bullish on Copper - But feel best to wait a bit yet for EntryI think it's just about time to buy copper again, in fact I was flipped the buy signal back on April 24th. However, I am sitting on the sidelines, mainly because I want to see the RSI get back over 50 before jumping back in. Once the RSI can get back above 50 (if it does within the next few trading sessions) I'll be going long copper :)
Fundamentally, Copper should rise from here - but there are a few potential snags that could still weigh heavy on her.
Neutral on Copper for right now - but ready to get long: I am neutral on copper for right this second, but I am getting ready to get long on copper in the next few trading sessions. It looks like she wants to break off the 9 day MA and the Aussie Dollar is showing some strength (just went long AUDJPY) and this suggests perhaps copper will be getting ready to make a comeback. Since contracts expired yesterday it does look like buyers want to get back in the game. I am essentially waiting for a clear break / crossover of the MACD for confirmation.
When I do go long, I will be setting SL for 2.4000
Copper - Bullish PotentialCopper is currently consolidating inside wave B of a corrective wave, which follows the bearish impulse which began in 2011. We expect copper to resume its bullish movement and complete wave C of this cycle over the new few months. The previous bounce off the .786 retracement prints a likely low in the market, and the correction since that time has proceeded exactly as we would expect if this is a low.
There exists support in a demand zone at the .618 retracement line, upon which the market is currently skipping and rejecting bearish movement.
Copper - Pullback and RelongIf copper doesn't make a new high today (which I don't believe it will), we will likely see a retest of the 2.72-2.74 area (top of the channel).
I'm itching to relong from this area.
Buy the breakout !2017 seem to be the year of commodities comeback with the economy growth and inflation showing signs of returning and Trump protectionism speech seem set to stop USD strength. History has a clear view on soft interventions like this and they usually point down for USD (1987 plaza accord comes to mind). Furthermore, EM would benefit greatly of a weaker USD and China cutting oversupply in coal (up more than 130% in 2016) and now seem to follow through on copper consumption and cutting aluminum oversupply. This all also holds promising signs for gold the leader of the commodity space. Having said that "doctor copper" is the life pulse on the economy. If half what we are hearing about infrastructure projects etc. commodities and specifically copper are set to be a winner in 2017. Technically 50/200 moving average have already decided on top price action. It says up. Confirmed by rounding bottom and the decisive breaking of a downwards trend. Entry point somewhat tricky - sitting at 2.75 resistance could fall as far as 2.50. Binomial option in place in other words - providing two scenarios - buy dip (2.50) or buy breakout of 2.75 - whichever comes first in other words.
