MFI / RSI trending down from overbought. Test some of the previous channel support/resistance.
Drew the red projected price line on 021520. Looking for 1.618 extension and bounce off the 200% pitchfork. EDIT: The date on the chart incorrectly states 021519 this should read 021520.
Just documenting what my original plan was. Should have started scaling slowly into a /ES long position when RSI and MFI goes way oversold on th 3-H chart. I didn't follow through with this trade. Could have been a killer!
XLF - Was inspired by the linked idea. Wanted to do some fib analysis - just for fun.
Levels I'm watching. Looking for pump/dump/chop early next week into fed day. Still learning fib time relationships but I picked a high-low swing in a chop zone and lo and behold one of the fib time zones lines up with Fed day. Who knows what that means. Just playing around.
NYSE:FCX Revision to previous chart/idea. After earnings, fcx took a dump, thanks to corona virus news, copper prices dropping, and overall index weakness. Not really sure how the market will react to fed day on wed. Assuming its not too bad, i think the bullish pattern continues. FCX is on sale and could be a good long term entry. With production in...
Short update. Please reference my first FCX chart for my initial thoughts. The current rally is sitting roughly at 78.6% retracement of the prior move from April 16th of 2019. As you can see we paused a little bit and consolidated after the initial move up from $8.30 (which also resulted in a pause/sideways movement). I'm looking for AT LEAST a movement to...
Just some doodles regarding the open tonight. Initial weakness expected.....
Just some quick drawings. Short term inverted H & S continuation to the upside. Lets see what happens overnight / tomorrow. Quick short to the circled targets.