- The ETF has been in a solid uptrend since the lows in March 2020
- Price is breaking out through horizontal resistance (on volume)
- Opportunity to jump on the momentum with a stop loss below the last swing low or break of trend
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Disclaimer: All ideas are my opinion and should not be taken as financial advice.
After a break out of a multi year channel and losing 37% out of that break, it made an almost perfect V - shape 60%+ recovery to end up back into the channel. If this channel hold, the next best assumption is that we will again start moving higher into this channel going into the future.
The drop in resources has been unexpected to me (See posts below). I would expect gold stocks to improve in a risk-off environment. However, this has not happened. The theory seems to be that due to the selloff in other stocks large interest has also been caught on the wrong side of trades and have had margin calls and needed to raise cash quickly. They have done...
After testing the yearly pivot point the resources index is continuing with the upward trend. Negative divergence and some volume in the market indicates that there were buyers buying into weakness during the test.
The JSE Resources Index has been steadily trending higher since 2016. After a pause at the end of 2019 it is again breaking higher. The break has come on low volume over the holiday season but could push higher quickly as volume returns to the market.
Cyclic lines are the repeating vertical lines and will appear equidistant apart and will appear indefinitely into the future.
As time goes on, the vertical lines will keep appearing and will always have the same amount of space between them.
Coincident that the tops and bottoms almost repeat at these vertical lines or intervals?
Might there be upside potential...
SATRIX RESI PORTFOLIO H4 (240 Minute) Timeframe
Reasons For Entry:
- Ending Diagonal
- Supply Zone
Everything Good Yearns Patience And Time
Disclaimer: Trading stocks, commodities, futures and forex has a level of risk and may not be suitable for all investors.
This Page has many charts to show setups and patterns for illustrative purpose and no set up given...