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COPPER trade ideas

Copper-Elliot wave counts and market structureI have earlier posted a daily chart on Copper sharing my views on this commodity and stating that it is now in wave 3 structure and will be slowly advancing towards 4.67$ mark going into 2024. By referring to that chart you can get a better understanding of this chart since that talks about a bigger picture about what to expect from this commodity. Coming to this chart, the metal made a leading diagonal(Elliot wave theory) between 17th Oct and 6th Nov. That is marked as wave (i). After an impulse gets completed it is always followed by a corrective wave which can retrace even upto 90%(but never 100 if the prior wave was impulsive).In this case the wave (ii) retraced 50% of wave(i) from 6Nov. till 13Nov. A new impulse was again set in place on 13th of Nov. The Elliot wave theory is a very accurate and the most logical way of looking at the market structure and getting an understanding of how the price moves. Once you start to look at the market from the Elliot wave perspective you will start believing that whatever happens in the market is never random. The market always has a structure and logic, which many a times we as individuals may not spot(immediately) and that only means we need to up our game to try and understand this beautiful market place. The purpose of this chart was not only to talk about copper and where it might be headed, but was also to give an insight to all about how i approach the charts and what are the points that i look for. Note*- This chart is for educational purpose only
CAPITALCOM:COPPERLong
by neeraj_2_sharma
copper towards new 52 weeks high in 2024?The commodity has been in a corrective phase well from the beginning of 2023 which now seems to be coming to an end. This could mean new 52 week high for the commodity by early 2024. in terms of Elliot wave structure the stock is currently in wave ii of wave 3. The up move to be looking forward to would be the wave-iii-3 which could well take the commodity price to 4.65-4.67 from the current levels. on the downside the sept 2022 low of 3.24 should hold and not be breached for the analysis to hold. note*- this is an educational post only
CAPITALCOM:COPPER
by neeraj_2_sharma
2
copper usd- mentoringopper speculative view weekly on the way to tests major area since first time it was there abou at 2006, it looks bearish like a huge inverted cup&hundle on weekley but to me it looks more like a retests of the support and in strange feeling im leaning that it will folow orange juice and coffe basicly the food and metals are getting more expensive in the world . all theory will be demolished if price close and retest under 3.25645 area look for short if close under 3.54426 area look for long if close above 3.56159 area *** Tolerance will reach such a level that intelligent people will be banned from thinking so as not to offend the imbeciles- F.M.dostoyevsky
CAPITALCOM:COPPER
by justclueless123
copper - mentoringcopper speculative view weekly tests major support area .it looks bearish and kinda on the way to create a descending triangle on weekley but could be retest of the support since 01.2021 all theory will be demolished if price close and retest under 3.54941$ area look for short if close and rejects 3.54941 area look for long if close and holds 3.63642 area *** Tolerance will reach such a level that intelligent people will be banned from thinking so as not to offend the imbeciles- F.M.dostoyevsky
CAPITALCOM:COPPER
by justclueless123