NYSE:FCX   FREEPORT-MCMORAN INC
78 10 2
Should start to see some consolidation here soon for wave 4 of (1). Retraces could be shallow if this is indeed setting up wave (3) of Primary 3.

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I chose to close my position. Might pick it back up 10-15% lower in 4, or could be that (1) is complete and we'll see wave (2) consolidate deeper.
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Liking the looks of this for adding my position back. Notional trade shown.
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Over 15.24 and I'm going to question whether 4 is complete, or a more complicated pattern is in play, like a b-wave of alt (2).
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Yellow alt is a bust, I'm looking to add my former position back in these targets. Coming low could be all of the correction, and possible that the difference between these counts will not be decided until nearer the 61.8% extension of Primary 1-2.
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I'm back in this trade. Small long position with 17Feb17 16C right now. Very aggressive. Be careful...
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RKchartest PRO
2 months ago
Great work!
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Deeper than I wanted to see for white 4 but still valid. Difference in 5 of (1) and the beginning of blue (3) will only be clear much higher near the 61.8% extension.
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I'm not sure if that was 5-up or iii of (i). Needless to say I was too early on entry. Still, looks promising off the low. Hold a high consolidation and break out then I'll watch for this pattern...
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nick.holland78 PRO nick.holland78
2 months ago
to be clear, not sure if that was 5-up for all of (i) or if this is just an extended iii of (i).
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Looks like minimum 5-waves up. Could be more aggressively bullish but a consolidation soon wouldn't surprise me.
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