nice breakout on copper !breaking top trend resistance, should be back to new highs by mid 2022 in my opinion ! look for a retest of the pink line it just broke recently. good luck traders ! :)
CA1! trade ideas
Copper bit of a bear marketHello, I see copper is in a bear market and a leg down could happen.
Not going to provide a full in depth analysis.
Here is a quick overview of this industrial commodity.
Here is the 30Y chart compared to gold you should notice a few things:
Copper could drop to 3.5-3.85.
3.85 is an extension of 1, 3.5 or 1.618.
Those extensions are really very common.
Gold bear market extended to 1.618 (for now):
Copper, assuming this is a bear market, is no stranger to 1.618:
The price extends 1 to 2 all the time.
Sometimes it does more than "correct" it makes a whole downtrend.
But it rarely does so (ever) without big retracements first.
The old saying goes "don't trade corrections".
Here this is something that repeats itself often so...
And in the short term there are nice enough trends.
I think trade corrections, but only if you are skilled.
Newbies that struggle in 3 year straight line trends...
Well of course they best stay away.
As long as you have strong hands but don't overstay either,
it should work out in the long run.
The inflation trade is sleeping. Ah lumber has dropped so much.
Too many people noticed it so they cut half the planet's trees.
It dropped so much. And it had gone up so much.
So much actually, that gamblers got caught up in lumber ponzis.
I don't see the US going hyperinflation or even 15% a year.
But people could buy commodities. In the short - medium term.
Better something that returns 0 rather than say a -8% return.
Disclaimer: I am long Soybeans and short Copper.
To look for in the following days (to my knowledge):
- China plans to release the state supply
- China plans to monitor (translation: manipulate) the market
- The US plans to "monitor" their economy (FED easing)
- China industry has shown signs of slowing down
Remember China buys half of the world Copper production (I think).
China had bad numbers in particular their industrial production dropped hard.
And As George Soros said, Housing Sector aïe aïe aïe.
Since they learned, to their surprise (somehow) they had a 1 child policy,
well there is no need for houses now is there? China doesn't take migrants either.
And the rural exodus has slowed down.
Economy contracts, demand goes down. Whole world contracts.
China and the EU follow Japan. The US follows the EU.
No reason for copper to go up. Supply is big an growing.
Demand has no reason to grow.
Only reason for the price to go up is inflation.
For now the USD goes up as silly as it seems.
Boomers worldwide all want to be safe.
Safe with the greatest ponzi scheme in history.
Copper Down Market down for chat pattern bear pattern on 15min candle chart
I think market goes down for 3 to 6 point
this is my only opinion and yours
New trading strategy upgrade - CopperHi traders, this is my personal trading idea only. Please give an AGREE/ LIKE, my trading strategy is Price Auction - using Chart only, your comments are highly welcome. My chaos drawing is not to predict and guess the further, it is my plan where we are on the chart and how we shall trade on what we see. Good luck guys.
✅COPPER BULLISH PENNAT|LONG🚀
✅COPPER has retested an important price level
And is now consolidating below it
In a bullish pennant pattern
I am bullish on the metal
As the transition to the "Green" economy
With EV's and Wind Turbines will require massive
Amounts of this commodity, so I am waiting for a breakout
And then will be expecting a bullish wave
With the first target being the recent high
But I am sure the price will go much higher still
LONG🚀
✅Like and subscribe to never miss a new idea!✅
Copperlooks like the divergent high has burnt off the excess energy and coiling, trying to move up in a weekly downtrend. Depends on the dollar and stimulus bill of multi trillion. Govt wants to install ev charging stations thruought usa. Lots of copper and electric cars so there is good reason for the push.
MCX Copper Shortmarket over heat .Right time to short your position
every market lose own control for bull ..this time is copper
This is My Opinion and your's ?
Copper Double zigzag within wave 4.
Wave X assumption here is a triangle.
Wave Y to head down as zigzag abc.
Invalidation of the triangle in wave X is wave e top.
GOODLUCK!
HG (COPPER) DAILY -- OUTLOOKThis metal has been in corrective mode for nearly five months and formed a triangle pattern. This triangle formation is up to reach its climax and an impulse journey is ahead to start. cheers...
DISCLAIMER: This publish is just an outlook and purely meant for educational purpose.
This is not a financial advisory since trading involves huge risk,
so trade with proper money management and expert advise..
Potential bullish scenarioPrice action just made higher high in descending channel. If it forms bullish pattern and breaks out, long entry would be great. It may even break that channel.
It’s time sell because we have a pullback Copper refers to going down again, if you already didn’t sell you can do it with a first confirmation
CopperCopper got the memo! SHe's cycling through the bullflag channels on her way north in an IH&S
Check that one out @whirlybard ! :)
More on copper and market dynamics. Part 39.26.21 More on copper and market dynamics Part 3 It is worth spending some time on all three Parts. DRAW the lines and playback the explanations outload to someone else ( you can even explain it to you dog if the rest of the family does not want to listen to you ). See it, do it, teach it...works.
part 29.26.21 Part 2 changes in Copper and how it changes strategy................................ .
When markets give you clues...will you see the clue?9.26.21 When markets give you clues...will you see the clue? Dogecoin; Copper Part 1 Part 2 will show a chart of someone who must be following me; there are some things I believe he might be overlooking.
copper9.21.21 Copper Part 2 or 3?: Looking for reversals at high...how they look...market dynamics using presses and gaps etc. This takes a little bit of thought...but may be helpful for some traders...but you have to work with it to see if you are compatible.
HG1! Copper coming in for the bounceIH&S there bouncing off the bottom of a channel.
YEAH it's an excursion from the channel, that's ok! The head was too.
Look at the RSI70! AND UP WE GO!
Copper prices eye key support to resume downtrendCopper prices are recoiling from confluent resistance at 4.4620. This is marked by the underside of two recently-broken uptrend supports, the upper bound of a seven-month price congestion zone, and a downward-sloping trendline emanating from the May 10 high. A daily close under swing-low support at 4.2060 may act to confirm downtrend resumption, initially setting the stage for a test below the 4.00 figure.
New trading strategy upgrade - Coppercorrection then go up to a daily resistant level. still have buy opportunities!
COPPER best time to buy now. 2 year rally ahead.This is COPPER on the 1W time-frame. I've made this idea to show to long-term investors why the metal is currently on the most optimal buy levels ahead of a two-year rally.
As you see, the price has been rising since the August pull-back. Not only is it posting a recovery but the August low happened almost on the 1W MA50 (blue trend-line), which has been the markets major Support since the June 2020 bullish break-out.
The pattern bears strong resemblance with the 2004 fractal. As you see both Cycles made a Double Bottom, which initiated the rally, a 1W Golden Cross was formed along the way and when the price hit the Resistance of the previous Cycle High, it made the first substantial correction/ pull-back. In both cases, the 1W MA50 held and then a 1 year Channel Up followed supported by the 1W MA50, which eventually paved the way for the final parabolic rally. The RSI sequences are also quite similar.
It is obvious the Copper is replicating the previous Bull Cycle and since the 1W MA50 held so emphatically, it is most likely the most optimal level to buy on the long-term.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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