Stroggwars.

Stock that could earn you big profits. FCX Short

NYSE:FCX   FREEPORT-MCMORAN INC
96 3 2
NYSE:FCX            

The chart is very descriptive,You can see the start of selling to the herd on the left at point A.
Point B is the confirmation forming an up thrust bar with high volume , this is big money selling to the herd.
And this confirms the stock is weak.

The stock then drops in a down channel and changed behavior below the EMA's
Notice at point A the low of this wide range bar will act as a resistance because of the high volume combined with it.

Today at point C the stock tagged that low from below, and closes as a no demand bar (narrow spread, close in the mid up bar with low volume ) there is no chance to break above the low of point A with such low volume .

The stock now in a down trend with weakness in the back ground from A and B.
The no demand at C confirms a very strong sell signal in such conditions.
Hit the play button on this idea? Post idea analysis please
Balas
Stroggwars. kocurekc
Ok, thnx for replying.
Balas
Stroggwars. kocurekc
The trade should be entered from the break of the swing low on the daily, the stock is still weak.
The trigger is below the swing low, so I still wait for the trigger.
the stock made a push today I know, but the stock is weak and will come back, This is a daily trade so you have to wait until low break out.
Balas
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