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Since 2014, my markets approach is to spot
trading opportunities based solely on the
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CLASSICAL CHART PATTERNS
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the...
Title pretty much sums up Champion Iron's recent price action lol.
Reminds me of similar movements exhibited in Mineral Resources chart before getting pumped after diversifying into Lithium.
Held onto a trend-line that's been running since 2015, crazy.
Appears ~$8 is established resistance level, as it continues to put in Higher Lows off trend-line while 200DMA...
ENTRY: 7.65
SL: 7.09
TP: 8.07
- RSI: 14 Mar 2023 shows reverse from 38-39 level.
- Stoch: 14 Mar 2023 shows reverse from ~20 level.
- VI: +ve and -ve converging
- Rebound 3 times when approach POC area (white dotted lines)
- Convergence of horizontal and trendline value area (solid yellow lines).
- Entry based on breakout from value areas.
Champion Iron (CIA ASX analysis) has been in a long term consolidation pattern since July 2021. You can see that it has now been in the $7.80-$8 range for the third time.
The pattern appears to be an ascending triangle - either way, we are seeing higher lows and supply move in at $8. Importantly CIA has cleared an area of support/resistance between $5.50 and...
ENTRY: 7.25
SL: 6.68
TP: 7.86
- ADX<20. Would like to be higher.
- Daily RS +ve
- Daily FFI +ve
- Weekly RS +ve
- Weekly FFI +ve
- Moving averages are aligned
- Breakout on 22 Mar 2022 from down-trendline and 7.23 resistance.
- Retraced and tested resistance-turn-support and down-trendline with rebound today.
- Would like a higher volume rebound today.
Charts look absolutely similar between iron futures and iron mining companies.
SGX:FEF1!
ASX:FMG (Australian Iron Giant)
ASX:CIA (Australian Mining Company) - in the main chart
NYSE:VALE (Brazilian Iron minor listed as US depository)
Looking at Iron future's previous retracement - which is almost equal to 0.786, we may be in the oversold...
Broken out of a nice consolidation below the key level of $3, on the hourly it has retested the broken resistance so now I'm watching for a sign of continuation of the move higher before an entry.
CIA - Champion Iron Ltd share prices have shown a potential reversal price pattern to the upside after breaking through 2.40 resistance on Friday 6/9/2019. Share prices continued its momentum in today's session breaching 2.45 resistance level and currently holds at 2.50 up 3.75% at the time reporting. Share prices could continue to its next estimated target at...
CIA - Bearish Observation for me here. Could continue to run but feel its more likely to slip to the downside in the near term. Adding to watchlist for future entries.
$CIA - CHAMPION IRON - Looking strong
Looking good on my indicators. Liquidity / market depth bit of a weakness, but if you can get in at the right amount it seems to be running well. Worth a watch.
Champion Iron Limited, formerly Mamba Minerals Limited, is engaged in the exploration and development of iron ore properties in Quebec, Canada. The Company's...
