Hi all this is copper future analysis on basis of Elliott wave analysis.
If you see copper on larger time frame like 1 weak, this is making Failure irregular Flat or could make contracting triangle.( Failure irregular flat consist of 3 legs-ABC) or if it is making contracting triangle, it will have 5 legs ABCDE, as of now it has completed C leg, if this is failure irregular flat, then market price will rally upward sharply once there is support of volume can be seen on larger time frame, if this is contracting triangle then we will see D leg and E leg which will be time consuming and after that it will rally only the widest part of 70-120% like can be seen as A wave.
Buy -721.10
Target-730
SL- 2 ATR
If you see copper on larger time frame like 1 weak, this is making Failure irregular Flat or could make contracting triangle.( Failure irregular flat consist of 3 legs-ABC) or if it is making contracting triangle, it will have 5 legs ABCDE, as of now it has completed C leg, if this is failure irregular flat, then market price will rally upward sharply once there is support of volume can be seen on larger time frame, if this is contracting triangle then we will see D leg and E leg which will be time consuming and after that it will rally only the widest part of 70-120% like can be seen as A wave.
Buy -721.10
Target-730
SL- 2 ATR