How to identify Impulse patterns? Elliott wave on Stocks, Gold, Silver, Crude, Copper

Trading using Technical analysis, Elliott wave and charts on Stocks, Gold, Silver, Crude and Copper. Visit https://www.wavesstrategy.com for Commodity tips. Also see trade setup on Nifty, Bank Nifty and Stock tips.

Power of Impulse pattern – Gold, Silver, Crude & Copper!

The below charts show power of impulsive pattern across the commodities – Gold, Silver, Crude and Copper.Many are fixated upon movement of equity markets which has been subdued since the start of New Year whereas commodity has been providing ample opportunities on the long side.

We have seen strong trending moves in Base metals, Energy pack and Precious metals as well. See the below charts of different commodities published in today’s morning research report – The Commodity Waves short term update.

See how easy it is to trade an impulsive trend if you are placed the right direction. You might refer our previous articles on Copper and other metals as well where we captured the entire up move and we turned bearish post wave v completion which helped to capitalize on the past few days of correction as well.

MCX Gold 60 minutes chart:

MCX Silver 60 minutes chart:

MCX Crudeoil 60 minutes chart:

MCX Copper 60 minutes chart:

So, once you have the Elliott wave structure or pattern you now know the address of the market. Using this co-ordinate you can formulate the trading strategy and use appropriate indicators.

So, if we expect a trending move then Moving averages will provide good support to prices, whereas during sideways action Bollinger Bands will do the magic!

Along with charts, it is important to see the support and resistance levels which we give along with the research daily morning.

Get access now to “The Commodity waves short term update” and trade the asset where the opportunity lies. I believe we should be flexible in switching the asset to the ones that are trending. Right now, it seems Commodity is the place to be in – Subscribe Now here

In case you do not have time to analyse and read the charts yourself subscribe to our Intraday / Positional Commodity Tips services where we monitor and shoot the calls based on opportunities. We have been able to capture amazing moves on Gold, Copper and other metal space over past few days. Subscribe for Commodity Tips and get research report free. Get access here

How to trade Copper precisely? Amazing application of Elliott wave!

MCX Copper had been moving precisely as expected and following Elliott wave along very well.

In below research you can clearly see how we have been able to capture the entire up move early on and the trend continued higher from the lows of 430 and now near 451 levels.

Below chart was shown in our commodity report – The Commodity waves short term update.

MCX Copper 60 mins Feb chart (shown on 14^th December)

Happened:

MCX Copper 60 mins Feb chart:

Waves Analysis:

On 13^th December morning we mentioned the following – In short, Copper is building momentum on upside. Use any dips towards 430 levels as buying opportunity for a move towards 440 or higher levels can be expected.

On 14^th December morning we mentioned the following – Over short term, as shown on hourly chart, Copper has broken out of the downward sloping channel and can now move towards 445 mark. The overall bias will be positive and any dips should be used as buying opportunity. In short, Copper trend remains positive as long as 430 is protected on downside. Move above 439 can take prices towards 445 levels which is 61.8% retracement of the entire fall.

On 19^th December morning we mentioned the following – prices are now near the upper end of the black channel and so buy on dips is ideal strategy in this commodity. Move towards 445 – 446 can be used as buying opportunity as long as 440 is intact. In short, Copper trend is positive as of now. Move towards 445 should be used to create long positions with strong support near 440 on downside.

On 20^th December morning we mentioned the following – Copper is positive as long as 444 is protected. Move below this level will result into sideways action. We can now expect a move towards 453 on upside. BANG ON!

Happened: Copper is currently trading at the highs of 451 on MCX and we have been bullish all the way up from 430 levels in just few days of time.

The above research highlights the power of Elliott wave applied on base metals like Copper. Subscribe now to “The Commodity waves short term update” and see how to trade Gold, Silver, Crude and Copper. You can also opt for receiving Commodity Tips for calls directly on your mobile or whatsapp. Subscribe NOW

Elliott wave on Copper!

On 23^rd April we published article on Copper is due for a trend!  And mentioned that prices are trading at matured stage and the uptrend is due.

Prices moved in line with our expectations after completing time correction. Let’s see what we had published in 23^rd April, 2014

MCX Copper 60 mins chart (June Contarct) on 23^rd April, 2014.

Waves Analysis:

For MCX Copper, in tandem with other base metals prices moved higher and managed to close near day’s high level. Up move was very well backed by depreciation in INR currency pair against the US Dollar. Looking at the Comex Copper structure there is very high likelihood that prices will move higher and weakness in INR will aid positivity in the up move.

As shown in 60 mins chart, after ending wave iii near 395 level prices were moving in sideways and it was more as time correction which ended near 415 near in the form of wave iv. After that we witnessed sharp fall towards 400 level and looking at the recent up move there is very high likelihood that prices have ended wave v near 400 levels in the form of truncation. However, we do not have any price confirmation so far. Any decisive break of 415 followed by close above the same will indicate that wave v has ended near 400 levels and we can expect deeper retracementof prior down move. On downside 408 level will act as immediate support.

Looking at Comex Copper structure and overall weakness in INR there is very high probability that prices will break the 415 levels. Positional trader should wait for positive prices confirmation.

In short, on downside 408 level will act as important support and we can expect move towards 415 in coming trading session and any move above the same will provide positive price confirmation and we can expect some trending move in coming trading sessions!

MCX Copper 60 mins chart (June Contarct)

To capture a next trend in MCX Copper along with MCX Gold, MCX Silver and MCX Crudesubscribeto our short to medium term analysis report “The Commodity Waves Short Term Update” which is published on daily basis before the Commodity markets open. For more details about our offers visit http://www.wavesstrategy.com/index.php/offer-of-the-month.html or Pricing page.