FCX - Long on Double bottom

313 12 7
Out of all the double bottoms I posted recently, this is the trade that seems most unlikely (I explained why on the chart). I decided to post this even if I'm not that confident because the divergence is obivious and we had a gap up at the open.

My stop is under the last low at 30.40$ and my first target is at 34$ round level, at previous resistance and 50% fib. Final target, which i think is unlikely is at 38$.
I think it's time to exit, as there are bearish divergences on the oscillators. It's not a short idea because I'm bullish on gold and copper.
First target reached on 08.04.2014. I will keep half of the position, as I have a bullish bias on copper.
I don't know what you mean
timwest vlad.adrian
I don't understand the chart either.
Overlay FXI (CHINA) onto FCX - it is extremely useful to see how it is correlating.
I saw on the chart you posted above :D
I have to admit I had no ideea about this correlation, my bad
Good work. Copper is trading along with FXI (China) which is having a nice move up. It has extremely negative fundamentals and sentiment and is deeply oversold.
Thank you Tim. What do you make of the volume?
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out