GLNCF Glencore PLC - Daily - Sell Short Here - Max Resistance
Rally back to high volume resistance at 2.05.
Also, 2.05 is the price level with the most TIME as well and is nearly a 100% rally from the low at the end of September.
The CCI(11) is overbought, of course, since it just rallied 9 days from 1.07 to 2.076, a full 1.00 move.
Risk 10% to 2.25
Target -20% to -25% to 1.60-1.50
Tim
10/9/2015 10:15AM EST
Also, 2.05 is the price level with the most TIME as well and is nearly a 100% rally from the low at the end of September.
The CCI(11) is overbought, of course, since it just rallied 9 days from 1.07 to 2.076, a full 1.00 move.
Risk 10% to 2.25
Target -20% to -25% to 1.60-1.50
Tim
10/9/2015 10:15AM EST
Note
Close to target at the open today!Note
1.73 low today, target 1.60-1.50Trade closed manually
Low of trade so far was 1.6440 = not too far from the target at 1.60. Big rebound near $2.00 is creating great trading back and forth across the range. (I cannot sell short stocks under 55/SH, so I can't participate). Do you own due diligence. I think it is time to walk away from this trade. Hope it has been a winner for you.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.