Our Stock of the day / FCX Long
Updated
Today we have a long set up to share:
a) The price is inside an ascending channel (purple line) and has been bouncing inside that range since APRIL.
b) Currently, we can see a corrective structure that has been formed after a bounce on the ascending channel.
c) If we zoom in on the chart, we can see a clear range (support and resistance) in which the price is on it.
d) The corrective structure we can see is completed, and we expect a bullish movement if the price reaches our Entry level.
e) Our Break Even level will be the yellow line. Stop and Take Profit are the ones explained in the chart.
f) We will take this trade using a 1% risk of our capital.
g) We will cancel the trade if the price stays below the corrective structure OR if the risk-reward ratio is less than 1.5
h) Remember: Trade safe, protect your capital, and always understand what you are doing and the risk involved.
a) The price is inside an ascending channel (purple line) and has been bouncing inside that range since APRIL.
b) Currently, we can see a corrective structure that has been formed after a bounce on the ascending channel.
c) If we zoom in on the chart, we can see a clear range (support and resistance) in which the price is on it.
d) The corrective structure we can see is completed, and we expect a bullish movement if the price reaches our Entry level.
e) Our Break Even level will be the yellow line. Stop and Take Profit are the ones explained in the chart.
f) We will take this trade using a 1% risk of our capital.
g) We will cancel the trade if the price stays below the corrective structure OR if the risk-reward ratio is less than 1.5
h) Remember: Trade safe, protect your capital, and always understand what you are doing and the risk involved.
Trade active
We moved our stop to the entry-level
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