Copper LongStructure and Elliot wave analysis
I will be looking to go long at this area marked out. I haven't set orders yet, but this is an 4H structural shift so as long as momentum coming into this zone is weak I will be looking to place orders.
COPPER trade ideas
COPPERWave C of a zigzag pattern is underway and forming ending diagonal pattern that indicates the reversal pattern.
Copper to Gold ratio shows signs of weakness if not panicCopper is an industrial metal,
Gold is valued in times of money panics since no counterparty.
both are metals.
both theoretically benefit from inflation.
One is clearly losing ground to the other one.
there is information there.
Copper Long5.3 Risk to Reward
Swing trade idea.
You may want to find some structural breaks on the lower time frame to get more refined entries and get a better risk to reward ratio.
This trade is probably a 2/5 probability idea, so still a positive expectancy. Just expect this to fail 60% of the time though.
Copper Long - 11RRLong trade on Copper.
Wave analysis + Bull Flag
I'm expecting the most likely move for copper is a move up to 4.85.
I will be looking for longs once price goes below the orange line at the entry tool.
What Doctor Copper is saying this week about the economyDr Copper has a PHD in economics. narratives can be wrong, be price action is closer to truth.
Lots of stories about no landings and china re opening. But price action is saying something else.
Bull Flag pattern A bull flag pattern is a chart pattern that occurs when a stock is in a strong uptrend. It is called a flag pattern because when you see it on a chart it looks like a flag on a pole and since we are in an uptrend it is considered a bullish flag.
Strong economyCopper price shows inflation didn’t die yet and it will continue to grow.
Copper price will be the real threat soon.
Higher copper price means higher inflation.
Solid buyThis is not magic, this is the fact of strong buying in the area of the bullseye 3.72, take profits and exit at the level of 4.60 boom
Copper Support & ResistanceCopper is struggling at resistance. Often when Copper Struggles, so to does the S&P500.
Copper can be ultra sensitive to the Dollar and yields, so watch it carefully as an economic barometer.
Short copper prefered on daily timeframe6 week low print and downwards uptrend breakout. Go short, stay short, choose your target.
Big trend dévloppingCopper is a big predictor of inflation we should have a drop in the net year but prepare for the next 10 year bull
CopperCopper looking to start the 5th wave of the C wave of the super cycle degree here IMO. Should hit around $7.50
Short-run Bearish on Copper - Converging channel pattern indicates upward trend in short-run.
- Low risk (SL is optional at any point below the lower channel trend line) because price hit channel bottom. Only movement upwards likely.
- RSI at approx. 40 suggests underbought.
- Watch for breakout as channel increasingly converging. After TP is successful, can set a trade order partly above or below the current price - to catch the breakout for a quick profit.
medium-term short position (high risk)
- existence of a very strong diverging channel
BUT...
- high risk due to low RSI, and current price level at a support line.
- therefore would recommend waiting for downward movement beyond this point before trading.
Copper & Stocks DivergingCopper and S&P500 is making a divergence.
Could this mean that we are going to be seeing weakness creep into the real estate market with Lumber and copper falling recently?
SPY has tracked copper closely with the rise & fall in inflation and yields.
The most used commodity in the world should provide pivotal insights into the next turn in the market.
If we do enter disinflation/deflation that's typically not positive for equties despite the "soft landing" narrative.
Take a Look at Copper["The candles are my news, and based on what these candles are trying to tell me is that we can trickle down lower over time. Would be great longterm entry buy around our 50% fib line, if we show signs of bullishness. This is not financial advice "]
COPPER LONGCopper suatining on upper levels, since last 8-9 trading sessions, bias bullish, confirmation above the supply marked.
Copper is Screaming! Are you listening?Why is Copper so important to track and what can we learn from studying its price action. Copper simply put is the most used base metal in the world and really powers every aspect of world. Doctor Copper is telling us something.
Copper has had an impeccable rally of the lows, this has been confirmed with the major rally in copper mining stocks.
In this chart we have overlayed the inflation rate in orange with the price action in copper.
The inflation rate has a delayed reaction based off of the price action in Copper.
What we can observe recently is the price of copper topping 112 days before the inflation rate. Copper had a significant decline which was followed by a decline in peak inflation.
Over the last 148 days, Copper has rallied 38%. Could this mean that we are about to see a delayed spike in the inflation reading?
Copper on the riseAfter the range breakout on Tuesday, Copper has been rallying higher.
Traders refer to this market as Doctor Copper since it indicates economic health. I plotted the correlation to the S&P500 below the chart and the positive correlation between the two markets is visible most of the time.
The 4.4 area above the current price is a significant Supply area although the price level is still some distance away.
With CPI coming out later today, big moves on Copper ahead of the release are not likely.
Lower-than-expected CPI data will probably lead to a stock rally and drag up copper.
The moving averages point upwards after crossing mid-December to the bullish side.
Copper trades above the Monthly Pivot which is typically considered a bullish sign.
A surprise in CPI data could lead to a correction and return the price to a retest of the range highs at 3.9.
COPPERCoinciding with my last view on the USD this adds on a confirmation bias that this might be the last move for copper. Using Elliot wave pattern to follow through on the foundational idea linked below
