Weekly/daily clear uptrend.
Targeting re-accumulation areas with the intent to position with the trend.
Avoid buying into weakness/supply/resistance
Avoid selling into strength/demand/support
Avoid entry when price is in middle of a rage (phase B)
Sources of education:
Tom Williams Volume spread analysis VSA/ Master the Markets
a2 just finish the abcde pattern and look like it also forming a bearish wolf pattern in a weekly time. Price indicate would be 10-11 in Feb 2021.
its also look like just got out of the distribution state. and beginning it down run. its might retest again and wait till the end of this month if price still under 18.50 then Im pretty sure it going down to 10 dollar...
A2M may be creating for the next wave or potential breakout if its share price is gone to A$9.95 or above together with higher volume .
Once the price is closed at $9.95 or above next few days, it could be a good sign to buy for higher price.
I think with the slightly over-cooked sell-off into an area with high volume trading activity should be price
stabilize. This is a strong company with good projected income potential over the next few years. If I was forced to buy it via exercised then I could live with that.
In the meantime - I can pick up a credit at close to 'at-the money' and see what...
This new high seems climactic...selling a break-back below older 20 day high level for a few days hold correction only.
As a CFD trade, I will re-assess at close of trade today and if not in good profit may add a 'Guaranteed stop ' premium to avoid any surprise GAPS after weekend upwards.
A2m has performed exceptionally, moving almost inverse to the XAO during its recent drops.
However all good things must come to an end.
A2m is encountering strong resistance at an established channel resistance, accompanied by falling volume and an imminent bearish cross on the 1d MACD.
Note also relative performance of A2m to XAO is headed below 0 and seems...
A2 Milk retraces back to the trend line support today. This is NOT a buying opportunity for me because the risk is greater than the reward. We could open below the trendline next week and going down fast. Also, there is a gap on the chart that is yet to be fill.
If we could close above $15.68 area, I may consider a long position in A2 Milk.
Break below $15.25
Stop at $15.87
Profit target $13.92 - possible gap fill if it was to fall lower.
Resistance at the long-term spine.
Divergence RSI and MACD
The a2 Milk Co. Ltd. engages in the distribution and sale of milk and dairy products. It operates through the following segments: Australia and New Zealand, China and Other Asia, and United...