We got in on Thursday 6 April 2023 at 71,540. This was based on an Inverse Head and Shoulders formation along with an Order Block of buying from smart money in two different places. Then there was a public holiday on Friday 7 April then it was the weekend and then another Pubic Holiday on 10 April.... Technically, we've only been holding this trade for 2 days....
W Formation formed on GFI. It looks like a CUp and Handle but the second rounding bottom is more than 50% of the cup, so we call this a Short Formed W Pattern. In some cases, you can say it's even stronger than the basic as the price failed to make a new low - showing how strong the buying is. RSI>80 - Bullish 7>21>200 Target R346.54
I mean... I guess it's ok for range bounded trading. Buy at the bottom of the range and sell at the top (short) then swing the other way. But I guess more importantly, the bigger the range the bigger the Order Block is for when the price breaks out. There are two Order Blocks that Smart Money will sweep. Buy Side LIquidity - Where it could sweep it all the...
Symmetrical Triangle formed on Sappi. Broke below and has been coming down nicely. 200>21>7 - Bearish RSI<50- Bearish We recently had a markup phase which is where the orders are being filled from the recent drop. We need to retest the high (resistance) and price should come down. If it breaks above, it will be wise to place a stop loss and lock in profits as...
Symmetrical Triangle formed and price broke below. 200>21>7 - Bearish RSI<30 - Bearish Since then it's been swimming to the price target of R42.39. We can just wait until the trade plays out.
Inverse Cup and Handle formed on TFG And the trend has been nothing but down. 200>21>7 - Bearish RSI <50 Target R89.50 So what now? Well with the ongoing banking collapse and the trouble with financials, insurance and retail sectors mean we can expect the downside to continue. I'm going to wait for the next setup before doing anything.
Symmetrical Triangle formed on Sappi. This is where a pattern moves neither up or down just sideways. We then had a break down, which confirmed the trend direction. 200>21>7 - Bearish RSI<30 - Bearish Target R42.39 INTERESTING FACTS Sappi Limited is a South African pulp and paper company founded in 1936. The company has operations in over 40 countries across...
W Formation formed previously as you saw. And the signs were all bullish with MAs and RSI But then there was a consolidation period forming a Diamond Formation, breaking down. I guess, my bias is in a way changing to down - but I'm not convinced. Even with the bank collapse, resource crash and crypto exchange debacle - PPC is holding quite solidly. I will keep...
Bear Diamond Pattern formed on City Lodge a few weeks ago. We then had a strong break down, which showed a big collapse to come. We set our target at R3.71 which many traders thought I was crazy. I told them I hope I am wrong, because I don't like when companies drop in value who offer great value to customers. But the charts showed downside and I couldn't be...
Break in Uptrend structure confirmed and we are no longer in an uptrend. We've been in a sideways range and now entering a bear market as of today. We now have a largeish Inv Cup and Handle with a few bearish signals. 21>7 - bearish price>200 - Bullish RSI <50 - Bearish lower highs Target R2,766.00 WARNING Even though we expect the price to drop, it's only...
Target hit at R1,446 recently from a larger Cup and Handle. And since then we had the price go up one more day before entering into a strong sideways range. During this time it formed an Inv Cup and Handle with a few bearish signals. 21>7 - bearish Price>200 - Bullish Target R1,1033 RSI<50 Bearish WARNING Even though we expect the price to drop, it's only...
M Formation formed on the daily and we are just waiting for the price to break below the neckline. 21>7- Bearish Price <200 - Bearish RSI <50 lower highs Target R1.08 CONCERNS: Many resource companies are showing downside to come. It seems like smart money knows something the public doesn't. This corresponds to the strengthening dollar. Ever since the US...
Scanned a couple of stocks on the JSE and it was tough to find many decent setups although Aspen is one that stood out for me on the LONG side. 3 reasons I think this setup is constructive and likely goes higher to at least R200 (1) Weekly price action has been making consecutive higher lows since bottoming out in August 2019. (showing relative strength in...
SSW Update The M formation formed nicely, broke below the neckline. The price is coming down as the supply increases and the momentum is still down. 7<21<200 RSI<30 Target remains at R35.77 ABOUT Sibanye-Stillwater (founded in 2013) is a mining company based in Johannesburg, South Africa, that specializes in precious metals extraction. As a spinoff from...
Cup and Handle formed on Barloworld after the Breakaway gap. The price then moved sideways and the buyers showed stronger momentum than sellers. Now with gaps there is a 70% chance of the gap closing which is good for when you're trading it using patterns. 7>21 but <200MA Target R107.85 WARNING The Moving Averages are still very close to each other which means...
Large Bear Box Pattern formed over the last year with Brait. And unfortunately it gets worse. The Highs have become lower and lower accompanied by bearish indicators. 200 > 21> 7 - Bearish RSI <50 Bearish Target R2.50 WARNING: The breakout was definitely not a strong one. So, if there are strong prospects and investors want to protect the company, it...
Bear Diamond Pattern broken down Bearish Engulfing Target R3.71 CONCERNS: This is one of those stocks that move in large Sideways consolidation areas for a long period of time. If the price breaks out of the range, we can get some traction to the upside. But this is not a trading haven.
Cup and Handle previously formed on KIO. It then moved into a sideways pattern, making a rectangle (Box). Now we need the price to break out of it, before a decent trade lines up. 7=21>200 - Bullish RSI>50 - Bullish Target R686.33