Wednesday, January 19, 2011

ANR, FCX, GS - All shorts

2 NRB's just above the PDL. ANR had a new daily setup - WRB followed by NRB. Entered short on the break of PDL. Price broke down on nice volume. Took partial near $57.50 and covered remaining just above $57 (a little above 50% FE of the WRB on the daily.

2 strong red bars followed by some pause in the form of a small green bar. Entered short on the break of the third bar. Covered entire position at 50% FE, measured from today's top to the tip of 3rd bar low. FCX had a nice daily setup too.

GS gapped down below S2. Consolidated sideways and entered on the break of 5th bar low. Covered position when price moved above 5EMA. It was only to shake out weak traders like me. Price then consolidated and finally broke down later in the evening but this time without me.

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