FCX Looking to get VERY LONG at the right priceTitle says it all but this is not the right price - yet . Stay tuned. #trading #stocks #fintech #Copper #Crypto
FCXCL trade ideas
FCX - EXPECTING...Starting from the left. Good increasing volume with a follow-up. Decreasing volume with a consolation pattern followed up a symmetrical triangle, broke out well with a volume, but afterwards volume started to decline and achieved higher highs and crashed.... Double top, stop run etc... Price increase without a volume (double top? stop run? macd shouts)), bad... crashed again, bought up and volume started immediately to decrease. Might test the 18 lvl and crash to the new lows. My opinion.
FCX - EXPECTING A LONG TERM DOWNTRENDFCX has broken the daily correction. I'm expecting a downtrend continuation. Look to the price action for a potential pullback.
TONCHINOMICS: FREEPORT-MCMORAN MAJOR TREND DOWN for now butFREEPORT-MCMORAN MAJOR TREND DOWN for now but approaching 7 year and 7 month long term downtrend line.
A breakout of this longterm downtrend line could create a MAJOR TREND UP.
Freeport-McCoran MiningFCX
* Freeport-McCoran Mining LG CAP $19B hurt by copper imports to China and copper prices being low.
* FCX also mines Nickel and Cobalt along with copper and both are needed for EV.
* HG
* LRN
* Cobalt value increasing but larger play still copper
* VIX
For own use and reference for entry.
the struggle is real the short term outlook here is a double top at 20. then a return to the 9 dollar range 2021-2020
Bullish GartleyFCX, Set buy limit order with other cancels other for target/stop, still learning.
Position Size: 0.5% risk for 10k is 100 shares worth $1,550
Sell limit order: 16.50
Buy limit order: 15.50
Stop Loss: 15.00
Time Frame: September 3rd
The numbers for the Gartley are not perfect but nothing ever is, lets see what happens.
Watching for the turnOversold indicators, watching for a turn at 15.86 or 15.26. Could have a strong, quick, limited move when it turns. Watching for now...
Short FCX following Fibonacci PinballThis 30m chart of FCX shows the stock pin-balling between Fibonacci retracement levels since its drop at the end of April. Look at how well the 38.2%, 50%, and 61.8% levels have acted as short-term resistance/support. I'm counting the rally as an WXY correction into the 61.8% retracement level. Initiating a short position at 17.50 for a move lower.
FCX - Key resistance level reached & watching for bearish entryAfter a strong bearish move price has pull back to a key resistance level of 16.70 -17.00. This is a key area to begin watching for bearish price action in the form of bearish pin bar, engulfing bar, evening star, etc. The next key support level below is 14.00 which makes a good profit taking level and could make for an attractive risk/reward scenario.
An aggressively bearish position could be short stock or a moderately bearish position with some insurance would be to sell the 18 strike calls.
FCX Channel PlayFCX has been trading in a well defined channel since January 2016. Every bottom test of the channel has been a buying opportunity. Once such opportunity appears to be fast approaching. Coincidentally, the 200 day SMA is hovering near the bottom of the channel. I would feel comfortable going long right around the bottom of the channel/200 day support.
double bottom with 3/4 pullbackNice double bottom with 3/4 pullback to the 61.8 retracement. this gives me every indication this is bullish, also conjunction with the trend
