IAMGOLD CORPORATION - a long position swing trade

NYSE:IAG   Iamgold Corporation

IAMGOLD is a mid-tier gold mining company operating in three regions globally: North America, South America and West Africa. Within these regions the Company is developing high potential mining districts that encompass operating mines, construction, development, and exploration projects.


Entry 'long' @ US$ 3.30

Price action has completed a abc ( zigzag ) pattern and has now corrected with a ( bearish , any three wave / X-wave )

On a higher degree look from fractal perspective price action has completed (the A-wave ) and the recent drop being the corrective (B-wave) setting price action up for a final ( C-wave ) which always is a 5-wave sequence.

I'll keep you updated along way... if there are any changes in price action I might take profit early or cut a loss without hesitation. but I'll give the trade time to develop.

Never marry the trade! Trade safe, be well.

- Omar Djurhuus