Copper Elliott Wave: Targeting A Buy At The Blue Box

In this technical article, we’re going to take a look at the Elliott Wave charts of the Copper (HG_F) commodity. Copper Futures recently completed a pullback that provided a high-probability trading setup. The decline unfolded as a clear Elliott Wave Zig Zag corrective pattern, ending right in the Equal Legs area (Blue Box). In this article, we’ll explain the trading setup and present the target levels.

Copper Elliott Wave 1-Hour Chart 08.07.2026

Copper Futures is forming a 3-wave pullback, correcting the cycle from the 6.282 low. At this stage, the corrective structure appears incomplete, suggesting more weakness in the near term is likely. Our Elliott Wave forecast called for a decline into the Blue Box area at 6.5688-6.4472, where we expected buyers to re-enter the market. Due to the bullish sequence on the higher time frames, we advised members to avoid selling the commodity and instead look for buying opportunities from the Blue Box. Once the price reached the 50% Fibonacci retracement of the rally from the connector labeled ((b)) black, the trade became risk-free by moving the stop loss to breakeven while taking partial profits. The setup would be invalidated only if the price broke below the 1.618 Fibonacci extension at 6.4472.

Quick reminder on how to trade our charts :

Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable.

Copper Elliott Wave 1 Hour Chart 08.11.2026

Copper Futures completed its correction right at the Equal Legs level and made a solid bounce. After reaching the 50% Fibonacci retracement of wave ((b)), all long positions became risk-free. We advised members to move their stops to breakeven and secure partial profits, allowing the remaining position to continue with reduced risk. This is the advantage of a structured Elliott Wave process. Instead of chasing moves, our members prepare for high-probability setups and manage risk with a clear trading plan. While above the 0.6571 low, we count wave 4 red completed and wave 5 red can be in progress, targeting the 6.9360 + area.