The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at
I am always open to questions, comments, or suggestions on how to improve this blog.

Monday, November 16, 2009


FCX is testing '09 highs again (3rd week of the last 5). The weekly chart shows some interesting things; for one, the Cup w. handle that formed going back to October '08 and breaking out in July of this year. Also, price now sits at a confluence of resistance in the form of an overhead gap and a 61.8% Fibonnaci retracement level (drawn from '08 highs to '09 lows). The measured move coming out of the cup & handle would put price right up against the 78.6% retracement.While on the daily chart, price formed another Cup w. handle pattern recently, with a measured move very close to the one projected on the weekly.

This morning price gaped above a previous resistance level; an important step in making an attempt at the long-term gap fill.

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