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.

Friday, June 25, 2010

FCX inverse H&S

FCX has been building a descending channel (congestion channel), recently failed a gap above the upper channel line, pulled back and made a recovery move today on above average volume.
After testing the gap range for acceptance, price has built a recovery structure, leaving the test of an inverse Head & Shoulders neckline potentially up ahead (measured move extends to $82).

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