FCX Trade on Feb 3, 2020 09:46 from GH0ST_0P: Tradervue User Stock Trades.

6 MAR 20 11.5C

I've been waiting for the commodity clones to bottom and bounce, and I finally got a signal to go long FCX. Oil is still in free fall, but Copper is close to support. In addition Copper and FCX tend to be seasonally strong in the month of February. Both are now firmly oversold and only become so maybe 4 times a year.

Method

• RSI Oversold (27)

• Bollinger Band Pierced 1/27

• Doji Hammer candle bouncing off support

• 5Wk Expiry

• Risk/ Reward 2-4R

Money Management

5% most of my money tied up in Gold

Exit Strategy

Price could either make it to the middle BB (20 dma), coinciding with strong resistance at the $12 lvl and fade, which would form a h&s.

The other scenario, if it pauses and breaks $12, we're likely to rally to resistance at $13.5 area (or just below)/ top of the BB or whichever comes first.