Stroggwars.

Stock that could earn you big profits. FCX Short

NYSE:FCX   FREEPORT-MCMORAN INC
90 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.
kocurekc
7 months ago
Hit the play button on this idea? Post idea analysis please
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Stroggwars. kocurekc
7 months ago
Ok, thnx for replying.
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Stroggwars. kocurekc
7 months ago
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.
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