CPRUSD trade ideas
XCU/USD - Week 51 - Wait for your buy setupsCopper set further year-to-date highs during Friday’s trading session in anticipation of an US economic stimulus package and we expect the price to continue the bullish trend after a short-term correction. We will wait for a reaction around the trendline. Don’t jump in any trade if you don’t have a clear setup.
Trade with care!
Financial Flagship
Disclaimer: The analysis provided is just informal and it should not be used as financial advice. You need a plan before you trade, but we assume this can help you have a better idea to where the market is heading next.
Copper is approaching support, potential bouncePrice is approaching our first support where we could see a further rise up towards our first resistance. It is worth noting that the price is still holding above the ascending trendline and Stochastic is facing bullish pressure from our support at 8.18 as well, in line with our bullish bias.
Short on copper
Daily trend positive, but moving into a possible range
Non perfect gravestone doji at resistance
Confirmed through doji on 15 minute
Short to bottom of range and watch for breakthrough or ranging back up
Might get stuck or bounce back at 3.5421
Stop above 3.5601
Initial target 3.4966
Copper is approaching support, potential bounce Price is facing bullish pressure from our first support where we could see a further rise up towards our first resistance. It is worth noting that the price is still holding above the ascending trendline and Stochastic is facing bullish pressure from our support at 8.18 as well, in line with our bullish bias.
Copper is facing bullish pressure from support Price is facing bullish pressure from our first support where a break above our upside confirmation level could see a further rise up towards our first resistance. It is worth noting that the price is still holding above the ascending trendline and Stochastic is facing bullish pressure from our support at 21.74 as well, in line with our bullish bias.
Copper is testing support, potential bounce Price is testing our first support at 3.58653 where we could see a potential bounce at this level and further rise up towards our first resistance at 3.65145. It is worth noting that the price is still holding above the ascending trendline and the Ichimoku cloud, showing bullish pressure in line with our bullish bias.
Copper is heading towards support, potential rise!Price is approaching our first support at 3.58653, in line with our 38.2% Fibonacci extension, 23.6% Fibonacci retracement and horizontal pullback support, where we remain bullish above this level. We could see a potential bounce at this level and further rise up towards our first resistance at 3.65145, in line with our 78.6% Fibonacci extension and -27.2% Fibonacci retracement. It is worth noting that the price is still holding above the ascending trendline and the Ichimoku cloud, showing bullish pressure in line with our analysis.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Copper is facing bullish pressure, potential for further rise!Price has just bounced off our first support in line with our 38.2% Fibonacci extension, 50% Fibonacci retracement and horizontal swing low support, where we remain bullish above this level. We expect a possible further rise up to our first resistance at 3.57843, which is in line with our 61.8% and 78.6% Fibonacci extension levels. It is also worth noting that price is holding above both our ascending trendline and the Ichimoku cloud, which shows bullish pressure in line with our analysis.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Copper is heading towards support, potential rise!Price is approaching our first support in line with our 50% Fibonacci extension, 38.2% Fibonacci retracement and horizontal overlap support, where we remain bullish above this level. A small bounce and then a further rise above first support at 3.50954 towards first resistance at 3.57843 could be possible. It is also worth noting that RSI remains above the ascending trend line, which shows bullish pressure in line with our analysis.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Copper is facing bullish pressure, potential for further risePrice is facing bullish pressure from our first support in line with our 61.8% Fibonacci extension, 76.4% Fibonacci retracement and horizontal swing low support, where we remain bullish above this level. A further rise above first support at 3.47033 towards first resistance at 3.52870 could be possible. It is also worth noting that RSI has just bounced from the support level at 35.09, which shows bullish pressure in line with our analysis.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Copper is approaching support, potential for a further rise!Price is approaching our first support in line with our horizontal overlap support and 38.2% Fibonacci retracement, where we remain bullish above this level. A short term rise above first support at 3.50883 towards first resistance at 3.57843 could be possible. It is also worth noting that price is now above EMA (55), which shows bullish pressure in line with our analysis.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Copper - bullish after correctionAnother chart that's been flying up in almost a straight line recently. This count suggests it's due a correction before resuming it's climb. Might be being a little optimistic on my 5th wave targets but who knows.....
Copper sell the break setup.Copper - Intraday - We look to Sell a break of 34580 (stop at 34910)
Trend line support is located at 34850.
Daily signals for sentiment are at overbought extremes.
A break of 34600 is needed to confirm follow through negative momentum. A higher correction is expected.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
Our profit targets will be 33510 and 33110
Resistance: 35000 / 35300 / 35600
Support: 34900 / 34600 / 34000
Copper is facing bearish pressure, potential drop!Price is facing bearish pressure from our first resistance in line with our horizontal swing high resistance and 78.6% fibonacci retracement , where we remain bearish under this level. A short term drop below 1st resistance at 3.50488 towards 1st support at 3.45142 could be possible.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks
Copper, wait for a break above upside confirmation Price is facing bullish pressure from our first support in line with our ascending trend line where we remain bullish above this level. A break above our upside confirmation level could provide the bullish acceleration to our first resistance target.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks
Copper, a break above upside confirmation could further upsidePrice is facing bullish pressure from our first support in line with our ascending trend line where we remain bullish above this level. A break above our upside confirmation level could provide the bullish acceleration to our first resistance target.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks
Copper, a break above upside confirmation could further upside Price is facing bullish pressure from our first support in line with our ascending trend line where we remain bullish above this level. A break above our upside confirmation level could provide the bullish acceleration to our first resistance target.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks
Copper to move lower.Copper - Intraday - We look to Sell a break
We are trading at overbought extremes.
With signals for sentiment at overbought extremes, the rally could not be extended.
A higher correction is expected.
Rallies should be capped by yesterday's high.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
Short term MACD has turned negative.
Our profit targets will be 33510 and 32850
Resistance: 34800 / 35000 / 35200
Support: 34600 / 34200 / 34000
COPPER-Completed one a,b,c correction higher TF...Market Commentary:
LEARNING ELLIOTT WAVES IS LITTLE BIT TOUGH (FOR ME IN BEGINNING) BUT I TOOK IT AS A CHALLENGE AND THAT IS NOT IMPOSSIBLE ALSO...
First have an look for the positional trend i shared here previous....if you are a follower of me...and sometimes i will share the counter trend trade also in 15 mins and 1hr...but that is risky ones...so if the trend is bearish or bullish, if i am expecting the correction...book the profit there and wait the correction to end and again go with the trend....DONT TRADE THE COUNTER TRADE SETUP...you will took loss too...try to identify the short term pull back and the long term pull back after that took small lots in the short term PB with strict stop and go with big lots in the trend side that is long term. I WONT TOOK ALL THE TRADE PLAN SHARED HERE...
Read the market commentary inside the chart what i shared here carefully and try to learn Elliott waves...otherwise its tough to understand the market commentary and my analysis. I wont give a entry, stop loss and take profit in my chart...it is only for EDUCATIONAL PURPOSE and i am sharing how i am analyzing the pair and labeling them according to the Elliott wave theory...I AM JUST SHOWING THE TREND HOW IT MAY GO AND MY VIEW(it may wrong too)..so DON'T FOLLOW BLINDLY MY CHART..take this as a reference and if it correlate to you strategy took the trade as per your strategy...DON'T ASK ABOUT YOUR RUNNING TRADES i wont comment on them and I WONT SUGGEST TO TAKE MY TRADE SETUP.
My style of trading is different from others and I WONT PLACE A STOP...but ALL MY TRADES ARE UNDER MONEY MANAGEMENT ACCORDING TO MY ACCOUNT SIZE...i wont close the trades even in the BIG NEWS EVENTS OR SCHEDULED NEWS TOO...i am technical analyst based on trendline, channel, fib retracements, expansion, stochastic for divergence, EMA's and MA's are finding the pull backs and MAJOR IS ELLIOTT WAVES...those mentioned above are using as a TOOLS only. I am not a fundamental, sentimental trader...but only the fundamental will boost my technical analysis to reach my target or sometimes it will go against me and then i will manage the trade according to the Elliott waves alternate views...
Each and every trade plan i am sharing here has a alternate view and i am sharing only the most probabilities(70-80%) here...sometimes the other (20-30%) may market do..then i will change the wave counts and labeling according to the price action. All labeling and wave counts done by me by manually and i will keep change according to the LIVE MARKET PRICE ACTION. So dont bias, hope on my trade plans...try to learn and make your own strategy...Following is not that much easy...I AM NOT RESPONSIBLE FOR ANY LOSSES IF U TOOK THE TRADE ACCORDING TO MY TRADE PLANS....THANKS LOT..CHEERS
