FCX Short Setup/ Bear Flag Basics

Kunal
Desai
December 16, 2009
How to trade stocksbows-opengraphTrading-Watch-List

As you know swingtrading is all about trading between support and resistance. You must have the ability to go long and short.  The mechanics of a short trade are the same as the long except in reverse.

Here is a very low risk high reward short Im looking at $fcx

What do you see here?  A stock that has clearly broken down. Terrible volume pattern that signals distribution.  Now its had a low volume weak bounce up right to resistance.

So your setup is too short it as close as resistance as possible.  Put a very tight stop above the resistance and boooombs away.  1st target 76.00, sell 1/2 move your stop to the buypoint.

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