H&S formed on Growthpoint.
We mentioned this was one of those low probability trades.
However, the overall trend won (as most of the time it does) and down it went.
The target hit at R11.88
And unfortunately, I see further downside to come.
LOADSHEDDING AND PROPERTY COMPANIES!
It seems like the 6 hour - 12 hour day Eskom load shedding is having...
W Formation formed on GFI a while ago.
The price broke up and since then it was moving up for the first few weeks.
Then when the gold price started its consolidation, so did the gold companies.
This has formed a falling wedge. Once the price breaks above the pattern, we will see it continue its upside.
RSI>50 - Bullish
7>21>200
Target R346.54
REALITY:...
Descending Triangle formed on Anglo American and the price seems to be breaking below.
If the ALSI continues down this will give a high probability short setup.
200>21>7 - Bearish
RSI<50 - Bearish
Target R405.50
W Formation formed on Mondi.
We then had a comfortable retracement back to the neckline where the price tested and showed strong demand and buying.
Now it's waiting for the JSE ALSI to push up before we have the next upleg.
7>21 - Bullish
Price<200 - Bearish
RSI>50 - Bullish
Target remains at R330.00
Please support this idea with LIKE if you find it useful......
XAUUSD
MONTHLY STRUCTURE IN DAILY TIME-FRAME
OHLC
SELL SETUP
Huge bearish divergence from 20th March to current monthly market high. TdI cross is also confirmation that price is bearish.
Take profit @ 1990.913 .
Trade with Caution. Wait for valid entries.
Please support this idea with...
This is definitely not my usual type of trade setup.
I don't like predicting market reversals.
I don't like catching the bottom and the top
I don't like trading without a solid chart pattern
So I am not taking this trade, but showing a major observation.
There has been a solid support forming over the last few months. Every time, Smart Money brings the price...
There is a super strong correlation with Naspers and Prosus.
So yes, it would make sense to buy both. But with such a strong correlation one could just double on the investment on one of their trades to avoid extra costs?
That's just me thinking out loud.
Naspers and Prosus are closely correlated in price chart because of the relationship between the two...
W Formation formed after it's been in consolidation for a while now.
The previous trend was up, so the conditions have lined up as a high probability trade.
The price has broken above and looks to be heading up.
7>21>200
RSI >50
Target R1661.98
SMC Sell Side Liquidity Order Block just below the Second leg of the W Formation. This is where Smart Money has been...
Rising Wedge formed on Richemont with a prior uptrend.
And believe it, it's broken up. This is normally a reversal pattern that breaks down.
However, since the share distribution, the demand has been sky high pushing the price up.
7>21>200
RSI>70
Target R4,142
All the great elements of a rising trend.
Inv Cup & Handle formed on Telkom.
We then had a break down and the market has been coming down ever since.
200>21 >7 - Bearish
RSI<50
The first target was at R28.63. But the market gapped and opened at R26.00.
This means the price got out at a better price for the short.
The bias is still bearish and we can expect further downside.
I'll let you know in due course.
JSE ALSI 40 - Bullish Bias
Finally, the market chose a direction and we are only looking for longs.
Falling Flag breakout
7=21 = Crossing up
Price>200 -Bullish territory
RSI>50 - Bullish
Target 77,000
SMC:
Two Sell Side Liquidity Order blocks have formed where Smart Money will come down to sweep the selling (buying into it) and it will push the price up.
Now...
Head and Shoulders formed on SHP and the price broke below the neckline.
We were hesitant with this analysis as world markets showed bullishness to come.
But charts are charts and they never lie.
Therefore we should follow the trend than try go against it.
200>21>7 - Bearish
RSI<50
Target R177.11
Falling Wedge has formed on the daily.
We need the price to break above before it's confirmed.
Price>200 which is showing the uptrend despite 21>7ma - There could be a change of trend, if we see further upside.
RSI<50 which isn't comforting, hence we need the break out.
Target R270.00
ABOUT
Bidvest, is a South African conglomerate company and was founded in...
JSE ALSI 40 -
Cup and Handle seems to be forming on the ALSI 40,
We need to wait for a breakout to the upside.
Price >200MA
RSI>50
Target 79,178
I prefer banking money when markets go up than down. So this might be the saviour for May with the JSE ALSI!
SMC: We have a Sell Side LIquidity area below the new Handle. This is where Smart Money has come and...
Please support this idea with LIKE if you find it useful.
XAUUSD
2023 YEARLY STRUCTURE
OHLC
Bearish divergence starting from 01 July, 2020 to current market Price in the monthly time frame.
Structure for this year is marked in red vertical line (January). Price opened high with April breaking above the open.
Currently have price consolidating below...
The charts never lie!
I posted this trade alert in October 2022 with the massive Falling Wedge on the Weekly.
It broke above the R20.35 and it showed the next strong resistance at R25.00.
target will be R25.00.
I called it a long term analysis but changing it to a MEDIUM term analysis because of how quickly it's accelerated.
I guess we can only wait for the...
We posted this trade alert around 24 April saying, we have bad news for the South African rand.
The trade is still on track to the first target at R19.80.
Once it surpasses, it'll need to consolidate move in a sideways range before the next breakout.
Hopefully, it won't be up again.
But anyways, the demand is strong for the USD against the ZAR and we can do...
Rising Wedge has formed on Daily.
Normally you expect the price to break down as it's generally a bearish pattern.
However, as the trend is up, the wedge is up and the gap is up - signals strong upside.
The price has broken up, and we could get a bit of downside before the next move up.
7>21>200
RSI>70
Target R4,142
FUNDAMENTALS:
It seems like since the...
![XAUUSD: XAUUSD 2023 YEARLY STRUCTURE OHLC [SELL SETUP🚨🚨 🚨]](https://s3.tradingview.com/r/rANBT570_mid.png "XAUUSD 2023 YEARLY STRUCTURE OHLC [SELL SETUP🚨🚨 🚨]")
