FCX Short Setup/ Bear Flag Basics - Bulls on Wall Street

FCX Short Setup/ Bear Flag Basics

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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