Trade ideas
CIA - 28 months ASCENDING TRIANGLE══════════════════════════════
Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
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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 opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment;
- since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant;
- the information that I think is important is very simple and can easily be understood just by looking at charts;
For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart.
Thank you all for your support
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
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⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
CIA ~ Snapshot TA / Psychotic Yo-Yo YOLO (Weekly Chart)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 climbs higher to act as dynamic support/confluence..
ASX:CIA ASX:MIN
CIA.ASX_Bullish Value Trade_longENTRY: 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.
CIA - Blue Sky DaysChampion 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 $6.20 and the Stochastics favour a Blue Sky break out imminently.
The macro success of this will be somewhat governed by Iron Ore Futures which peaked in July 2021 (as did CIA). There's a strong area of support between $94 and $78 that may be retested on a pull back. A breakout from here would be with prices over $125. The stochastics setup on the Futures suggests the probability is with one further pullback before it breaks out mid year'ish.
2023 could be a very strong year for the Champ!
CIA.ASX_Breakout Retracement Trade_longENTRY: 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.
CIACIA quick scaply one. Grey zone is an area of congestion and will likly reject from or will need further analysis once the zone is reached.
Darn! Missed the entry - on Dec 20 or 17Seems it started a trend. Now I have to wait till it back to 10 EMA or kiss the train good bye.
Just an idea of a potential of a nice retracement to recent lowsNot a charter by far but looks like CIA may move to around the $4.13 mark and the zoom up.. IMO..
Iron ore and Iron stocks - can we expect a rebound?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 territory.
While CIA shows strong bullish divergence
FMG and Iron futures show bearish hidden divergence following strong bullish divergence.
Conclusion:
Good to open small position and wait for next leg up and pullback. Cut losses if new lower low is made.
CIA might be on the move upBroken 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.
(ASX CIA) Champion Iron Ltd - Price and volume breakoutCIA - 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 2.60 if it remains above 2.45.
CIA - ObservationCIA - 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.
$CIA - CHAMPION IRON - Looking strong$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 projects include Consolidated Fire Lake North Project, Snelgrove Lake Project, Powderhorn Lake Project and Gullbridge Property. The Company owns interest in over 12 properties covering approximately 847.5 square kilometers located in the Fermont Iron Ore District of northeastern Quebec. The Snelgrove Lake Project is located in western Labrador and is approximately 55 kilometers southeast of the community of Schefferville, Quebec and approximately 200 kilometers north of Labrador City, Labrador. Powderhorn Lake Project consists of approximately 148 claims covering an area of over 37 square kilometers situated in the Buchans-Robert's Arm Belt in Central Newfoundland. Gullbridge Property consists of approximately 179 claims covering over 45 square kilometers situated in the Buchans Robert's Arm Belt in Central Newfoundland.
Watching For Another Run in CIA.TOTriangle playing out, but also a rounded bottom continuation pattern.
Like the setup for a potential move back to the high or even above it.
Target is one option, using a trading stop loss is another. Exit when the price has a daily close below ATR Stop, by placing a stop loss a cent or two below the low of that day.
DON'T like the fundamentals.
