A.FX

Buying FCX 19 MAR 21 28 PUT

Short
NYSE:FCX   FREEPORT-MCMORAN INC
I'm expecting price to hold this current resistance on the 4H.

If price breaks above current resistance, then I will close these contracts for a loss and salvage what I can from the position.

My profit target is around $28.

So, why $28? Because price has already checked the $33 - $30 price level noted by the check mark. I think price could move lower to the next price level around $28 noted by the down arrow.

Comment:
Price created a new resistance on the 4H.

If price closes above $35.47, then I will be exiting this position and salvaging what I can.
Trade closed manually:
Price moved much higher above previous resistance. So, I closed the contracts for a loss. However, I was able to salvage some of the position.

Comments

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