Wednesday, June 10, 2009

FCX


I liked this trade not because it gave me above 2R but because I waited for the right time to short. Price moved down and bounced off from 20 EMA forming a hammer. Shorted a little below the low of the 6th hammer candle. SL was just a few pennies above the high of the 6th hammer candle. Target was 50EMA of 10 min. chart where price normally seems to bounce.  Exited completely at 10 min. 50 EMA.

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