The price of copper is now falling further and further after initially rising on Thursday. This development is in line with our primary scenario as we expect the low of the magenta wave (x) to be a bit lower in the turquoise target zone between $3.59 and $3.51. Only when it's placed, the price can rise above the resistance at $4.19 and build wave (B) in magenta. A...
hello all
My plan is to buy copper until the resistance level is reached.
*I have no intention of using my trading approach as a signal. I'm practicing my trading strategies, learning about market dynamics, and figuring out the best way to enter the market in the right direction.
TRADE DIRECTION: LONG
Price broke and closed above the Short-Term Trendline (red line). Before that, there were many candlesticks with long lower wicks (yellow eclipses) and bullish reversal candles (green arrows) formed around the lower line of the Parallel Channel (green dashed line), indicating buyers had started to accumulate long positions and sellers took...
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
The Wiseguy Report : December Copper HGZ2023
HGZ2023 -- COMEX:HGZ2023
NEAR TERM : NEUTRAL
VOLUME STRUCTURE
So far, for the month of September, 70% of the December Copper volume has occurred between 3.8400 & 3.7100, with the highest volume occurring near 3.7900.
PRICE ACTION
December Copper has rejected all its previous interest inside the Value Zone & is...
TRADE DIRECTION: Downtrend; as indicated by the red trendline
KEY LEVELS: Daily Pivot and the red trendline
TRIGGER SIGNAL: Dark Cloud Cover and Bearish Pin Bar closed below the Daily Pivot
For all trade on my Auto Harmonic patterns indicator trade setup -
Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail...
TRADE DIRECTION: Downtrend; as indicated by the red trendline
KEY LEVELS: Daily Pivot and the red trendline; price failed to break and close above it.
TRIGGER SIGNAL: Bearish Engulfing (red arrow)
For all trade on my Auto Harmonic patterns indicator trade setup -
Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail...
For all trade on my Auto Harmonic patterns indicator trade setup -
Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail...
Copper (HG1!) has been trading within a Triangle pattern for more than 2 years and recently the price action has gotten so narrow that it prompts to a break-out soon. The 1D MA50 (blue trend-line) has been acting as the Pivot level while the 1D MA200 (orange trend-line) had the last rejection on record on September 01.
The 1D RSI since the May 24 Low has been...
For all trade on my Auto Harmonic patterns indicator trade setup -
Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail...
For all trade on my Auto Harmonic patterns indicator trade setup -
Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail...
Copper is technically neutral, as also dipicted by the 1D outlook (RSI = 50.817, MACD = -0.013, ADX = 24.251) inside the HL trendline of the Bullish Megaphone and the LH trendline of the January High. This movement can only offer scalping opportunities.
If you want to commit beyond those, buy over the LH and target R2 on the medium term (TP = 4.1950) and sell...
Industrial metals were the worst performing commodity sector last month and were down 2.7%1. Over the last six months, the sector is down 15.2% and has created the biggest drag on the overall performance of commodities.
China's real estate sector, once the engine of its economy, is now teetering on the edge of crisis because of excessive borrowing, overbuilding,...
