BLX/GOLD In ascending triangle formationThis shows bitcoin's breakout compared to gold. Very interesting chart seems to indicate a huge move up in the coming weeks or months.
Beacon Lighting Group Ltd
No trades
Trade ideas
BLX.ASX_Retracement Trade_LongENTRY: 3.02
SL: 2.47
TP: 3.39
- ADX>20
- RSI>50,RSI<70
- Daily RS +ve
- Daily FFI -ve. But turning positive.
- Daily MACD +ve
- Weekly RS +ve
- Weekly FFI +ve
- Weekly MACD +ve
- Retracement to 50% fib. level and rebounded today with high volume green candle.
- Possible buyers coming back in today.
- Above HVN currently as well.
- Buyers-in-control actions on 11 Nov 2021 and 10 Dec 2021
BLX.ASX Cyclical Short Trade BeginningA broken clock is right twice a day, and an under performing lamp warehouse has a rerate every 1 and a 1/4 years. There is a heavy down trend that has begun since this thing appreciated after its IPO. since then there has been a cyclical run of price drops like clock work. These are more like zones of trading, where the rerate brings about a reassessment of the market participants of the stock. Buying at the beginning of Zone 2 and Zone 3 would have yielded some very handsome results because the trading was a long way away from the established trend line. The same strategy entering Zone 4 and now entering Zone 5 will yield disastrous results.
This is of course dependent on the trend line not being broken in any meaningful way. Which, given that its such a long term trend line, I doubt is going to happen.
