Get started
Copper FuturesCopper FuturesCopper Futures

Copper Futures

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Forward curve Seasonals Contracts Options

HG1! trade ideas

Copper Futures ( HG1! ), H4 Potential for Bullish MomentumType: Bullish Momentum Resistance: 3.5460 Pivot: 3.4400 Support: 3.3850 Preferred Case: The price is crossing the ichimoku cloud, if the price can break the cloud successfully, we can expect the price rise to the 1st resistance at 3.5460, where the overlap resistance and 61.8% fibonacci retracement are. Alternative scenario: If bearish momentum persists, expect price to continue falling towards the first support level at 3.3850, where the previous swing low is. Fundamentals: There is no major news.
COMEX:HG1!Long
by Genesiv
Copper Futures ( HG1! ), H4 Potential for Bullish MomentumTitle: Copper Futures ( HG1! ), H4 Potential for Bullish Momentum Type: Bearish Momentum Resistance: 3.4025 Pivot: 3.3610 Support: 3.2545 Preferred Case: On H4, with the price moving below the Ichimoku cloud and descending trendline, we have a bearish bias. However, price is resting on the 1st support at 3.2545 where the larger 78.6% Fibonacci line and 127.2% Fibonacci extension line lies. Expect a possible pullback back up to the Pivot line at 3.3610 where the previous swing low lies. Alternative scenario: Alternatively, the price may continue the bearish momentum and break through the 1st support and head towards the 3.1335 level where the previous swing low lies. Fundamentals: No major news
COMEX:HG1!Long
by Genesiv
Copper will melt your mindHello friends. This is our primary count for copper futures. We are extremely bullish. It's zoomed in, so here is the bigger picture: We have 2 key Fibonacci levels as well as the volume profile all indicating that the peak for copper will come in at ~$4.20. In fact, we would expect that it will come in at *exactly* $4.20 because the market manipulators running this show have a crass sense of humor illustrated by them forcing Bitcoin to make its peak at 69k. On the Binance chart, to the PENNY, Bitcoin was $69,000.00 at the peak. Some call it an odd coincidence, but we don't really believe in coincidences. The manipulators mock the consistent and repetitive stupidity of retail traders on the charts they create, and they are all too oblivious to notice. That target represents a substantial 25% rally from here, and for a huge market like copper, risk assets will all benefit from its rising prices (save for perhaps businesses that use copper as a key input). This is illustrated by the significant positive correlation between copper and the stock market. Another thing to look at for this trade is the fact that we are quite likely (although not certainly) forming what we like to call the "Scam Bottom" pattern. It's simply Wyckoff without all of the bullshit. To extrapolate on this further, Wyckoff's theory claims that a market manipulator must always follow a needlessly complicated chart diagram. This diagram is always misunderstood by retail traders. This is because market manipulators, to the dismay of retail traders, do not follow a perfectly neat and infinitely repeating fractal pattern every time they extract money from the markets. Instead, they follow a general set of ideas. Most importantly, they maximize profits by triggering the maximum amount of retail stop losses at optimal prices. Here is how they form a Scam Bottom pattern (invert for a Scam Top): Make a substantial low in the market Push price away from the low Push price back to the low Break through the low very briefly to stop out retail longs Rapidly push prices higher That seems to be playing out in the shorter term right now: Trading plan: We need to see a rapid reversal from this low in order to confirm our idea. Until that happens, we do not have a position in copper. If that happens, we will long copper. If the price sits there and waits, we may cancel the trade altogether. Once we get a long on copper, we will put a take profit at $4.20, and a stop loss below the local low.
COMEX:HG1!Long
by bowtrix
1
Copper9. 21. 22 copper looks like it has the potential to move a lot lower. the best trade location for short trade is above its current price. if for some reason the market finds buyers for a while and moves closer to where it reversed, it might be hey prudence. Wait for the market to correct a little bit higher to lower your risk because you're closer to where the stop should be if you were short. It's always a problem for me when the patterns showed me a good reversal point, but now I see the trade thousands of dollars lower. Sometimes it pays to just wait, and the market will give you another chance.
COMEX:HG1!
by ScottBogatin
Copper Futures (HG1!), H4 Potential for Bearish DropType : Bearish Drop Resistance :3.5555 Pivot: 3.4755 Support : 3.3695 Preferred Case: On the H4, with price below the ichimoku indicator and RSI is moving within a descending trendline, we have a bearish bias that the price may drop from the pivot at 3.4755, which is in line with the overlap support to the 1st support at 3.3695, where the 61.8% fibonacci retracement and overlap support are. Alternative scenario: Alternatively, price could rise to the 1st resistance at 3.5555, where the overlap resistance and 50% fibonacci retracement are. Fundamentals: No Major News
COMEX:HG1!
by Tickmill
Copper Futures (HG1!), H4 Potential for Bearish DropType : Bearish Drop Resistance :3.5555 Pivot: 3.4755 Support : 3.3695 Preferred Case: On the H4, with price below the ichimoku indicator and RSI is moving within a descending trendline, we have a bearish bias that the price may drop from the pivot at 3.4755, which is in line with the overlap support to the 1st support at 3.3695, where the 61.8% fibonacci retracement and overlap support are. Alternative scenario: Alternatively, price could rise to the 1st resistance at 3.5555, where the overlap resistance and 50% fibonacci retracement are. Fundamentals: No Major News
COMEX:HG1!Short
by Genesiv
Copper Futures (HG1!), H4 Potential for Bearish DropType : Bearish Drop Resistance :3.5565 Pivot: 3.4990 Support : 3.47325 Preferred Case: On the H4, with the Stoch is below 20, and the price is below ichimoku cloud , RSI is showing a descending trendline and Stoch is reversing from the resistance, we have a bearish bias that the price may drop from the pivot at 3.4990, which is in line with tyhe 50% fibonacci retracement and overlap support to the 2st support at 3.4325, which is in line with the swing low, 78.6% Fibonacci retracement and 61.8% fibonacci projection . Alternative scenario: Alternatively, price could rise to the 1st resistance at 3.5565, where the swing highs and 50% fibonacci retracement are. Fundamentals: No major news.
COMEX:HG1!
by Tickmill
Copper Futures (HG1!), H4 Potential for Bearish DropType : Bearish Drop Resistance :3.5565 Pivot: 3.4990 Support : 3.47325 Preferred Case: On the H4, with the Stoch is below 20, and the price is below ichimoku cloud, RSI is showing a descending trendline and Stoch is reversing from the resistance, we have a bearish bias that the price may drop from the pivot at 3.4990, which is in line with tyhe 50% fibonacci retracement and overlap support to the 2st support at 3.4325, which is in line with the swing low, 78.6% Fibonacci retracement and 61.8% fibonacci projection. Alternative scenario: Alternatively, price could rise to the 1st resistance at 3.5565, where the swing highs and 50% fibonacci retracement are. Fundamentals: No major news.
COMEX:HG1!Short
by Genesiv
Copper HG - Is It Finally Time?I have witnessed much consternation on Twitter over the last months and weeks about how Copper, a critical industrial element, continues to decline in price. All the while, like most other metals, the exchange vaults are being raided of thousands of tons of physical spot, which futures markets need to back short positions. One would think this would result in a price increase, and yet, metals have remained exceedingly bearish. Whether Copper can constitute a commodity in a price action cycle that can be considered bullish, rather than bearish, boils down to whether or not you believe that the $5 all time high set during the 2021-2022 bull run is either the ultimate top or the medium and short term top. Looking at the monthly, the situation is more clear: This pattern stands in sharp contrast to say, Soybeans, which has a very similar pattern of price action, but is less bearish over the last 3 months and also failed to set a new all time high during the early 2022 supercycle test run. Soybeans ZS - Lagging the Pack, but Ready to Go And is somewhat more like Wheat, which did take out the previous long term high, albeit only on a short term sweep. Wheat Futures - ZW - Like Snakes in a Can The contrast is that copper ran the old high three times already. So you really have to consider that the ultimate top may be in. More information on Copper HG can be discerned from the weekly, which shows notable gaps above $4, a healthy V-Bottom following the July dumps, and a close, albeit not-too-close, range bottom to the key Sept' 20 pivot: Breaking it down into the daily, we can see that July month end and August open plinked out a dump high, followed by August being characterized by a slow grind upwards before finally selling off at the end of the month: September, thus far, has opened very bearish, taking out the August pivot (twice, now), yet retaining the overall market structure, and showing an indication that it wants to trade higher. September is not likely to finish in a straight line down. What I like about this call is that while I have mixed feelings that copper will ever see $5 again, despite all the fundamentals saying it really ought to trade for a lot more, the reality is that I believe if it were to turn around and dump to new lows in the low $3s or mid-high $2s, it certainly does this, more likely than not, after raiding the $4 level first, based on how price action has developed. Currently, we're still young in the month and copper has so far traded bearishly, although it's showing a lot of promise in its price action that higher prices, rather than lower prices, are sought for now. The situation in this world is very strange at present. Energy shortages and food shortages are looming, hard, especially if you are in Europe. Recession, aka "Depression" is looming everywhere, and yet the U.S. equities market is still trading pretty high and for a lot of us life is just normal, albeit not as pleasant as before. The dollar index is mooning and many critical currencies from other countries, including ones as strong and crucial as Japan, are being slaughtered, and yet, no matter how siren-sounding Twitter is, price action does not reflect a degree of panic really anywhere. Even WTI Crude Oil, which I called would trade towards the $81 mark at the beginning of August, is trading in such a fashion that despite losing 30% of its value, there is still no fear, no shock and awe. WTI Crude Oil - Running and Gunning And even so far as Natural Gas NG has already lost more than 10%, somehow despite all the fundamentals saying otherwise, nobody is batting an eyelid. Natural Gas / NG - What, Truly, Is a Bull? Right now, everything, everywhere, is just business as usual, and another dip to buy. But for how much longer? A 72 VIX print is looming in the cards, and the lack of fear will truly have such a move catch many off guard. VIX - 9x8 = 72 The hardest thing in trading is not determining the direction or the targets. Instead, the hardest thing is gauging and predicting _when_ the move will happen and how it will unfold, since time is weaponized, and not very many things go up or down in a straight line all that often. Frankly, reason stands that the reality is that we will see Copper trade for prices like $10 in the relatively close future, and if so, then this price action we're sitting at is truly the place where the abyss will start to rage from. But to go long for that day... when does it really unfold? More likely than not, if you want to aim for numbers over $5, you're looking at a date in 2023, and it's very hard to trade options and futures that far out. And never forget, the world's greatest "black swan" looming is the coming collapse of the Chinese Communist Party . When that day really unfolds, most of the world's population will be bamboozled and caught off guard, which is why I call it a "black swan." But in reality, it is a development that is so, so easy to see. If you can't see it, maybe renounce your faith in communism, socialism, Marxist-Leninist stuff, and have better thoughts. Position yourself with the mentality that saw the world defeat Hitler in World War 2. The CCP has killed more than 100 million of its own people during its sanguine 100-year reign, including the 23-year-long organ harvesting persecution against Falun Gong meditation. How much longer can a group of rogues squatting in Shanghai last, soaked in sins like that? Rationality is simply too critical, and the level of one's rationality is connected directly to the level of their morality.
COMEX:HG1!
by LordWrymouth
3
Copper Futures (HG1!), H4 Potential for Bullish RiseType : Bullish rise Resistance :3.5000 Pivot:3.4735 Support : 3.4170 Preferred Case: On the H4, with the price pullback from the support, breaking the descending trendline, MA10 is above MA30, combined with the fundamental news, we have a short term bullish bias that the price may rise from the pivot at 3.4735, where the current price is to the 1st resistance at 3.5000 where the previous swing high is. Alternative scenario: Alternatively, price could drop to the support at 3.4170, where the swing lows are. Fundamentals: Because of Chinese administration, the decline in copper production in Peru, and a steep fall in the DXY , copper shows a pull back trend from the support.
COMEX:HG1!
by Tickmill