The majority of the last 10 ideas look similar. (Price Patterns) (Resistance Breakouts) and in different Industries, from basic materials to Finance Industry.
But the pullback is different in each one In this case the pullback is ready with a swing low in progress.
The process for share and idea is:
* Resistance line breakout
* Pullback
* Swing low
Long term charts show previous support and breaks to avoid chasing, even better, all data long term, this broke fast as the weekly slowly rolled over but we can see the -ve divergence on the daily as recent highs were attempted while the RSI failed at 61.8 and the hourly at 50, both declining, if not in on the short before the break, watch your entry as potential...
Freeport-McMoran Copped & Gold has put in a solid bottom at an important support level, with strong underlying fundamentals. This should now test upside resistance level above $60.
Longterm i am looking to be long but right now i will place a short at 18,64 and see if i cant some money on the way to my buy limits. placed a quarte position so not risjing too much either. #Trade618Pro, #entrylevels
Shout out to #backstagenews for looking out. fundamentals look good. future potential. Longterm Long. Looking to enter at lowest target 15,86, next 16,67 then 17,52 as closest target. soft targets are 24, 31, 38. #waitandsee #Trade618Pro #takeitorleaveit
The pullback may not necessarily hit the channel line before it rebounds though that is a guide only.
Go to smaller time frame, draw a diagonal channel line to see if price action breaks down. Sell only if you are going for counter-trend strategy, a risk move that requires experience. I had a few wins based on luck but would not encourage at all. Accumulate on dips
