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PLS Long (ASX)The C wave from March 2023 demonstrates bearish movement from falling lithium spot prices and a bearish macro environment. The C wave movement has turned this from a running flat to an expanding flat . Interesting to watch market psychology is at play here as participants sold PLS down despite a 1.2 billion in profit and a maiden 11c dividend paid out. Prices reached as low as $3.5 during this period. This could either be a completed expanding flat or the C wave in this flat could actually be the beginning of a new A wave. As demonstrated by the 2016 to 2020 corrective flat, prolonged consolidation lead to a 35 bag movement. Regardless of whether it's the beginning of a new A wave or the end of an expanding flat, consolidation is healthy. Expect short term upside too. PLS long for the next decade. ** Note: During the end of March 2023, Albermarle attempted to acquire LTR. The big players are accumulating despite bearish sentiment.
ASX:PLSLong
by Itachi239
Why we should review price action to see if History will RepeatStudying price action and reviewing should be a key part to everyones trading and will improve overall results. Many Stocks, Currency pairs, Commodities or Indexes have differing nuances and characteristics with regards to Price Action so it is worth doing the homework before entering a trade. Even though they all trade around a similar Price Action Framework, quickly looking for small repeating patterns can greatly improve the probability and conviction and help your trades in the long run. This short video looks EQR.asx which is a share listed on the ASX. By reviewing the previous price action, we can see that the current setup is so far following the same path as a previous big winner....I will be watching to see if history does repeat!! Hope you enjoy
ASX:EQREducation
by TradeTheStructure
5
CXO LONG (ASX)Moved from a running flat to an expanding flat . Spot lithium prices have fallen 34% in the month of March, highlighting a slowdown in demand caused by contractionary monetary policy. The spillover effect onto major banks indicate a stronger possibility of further downside which may lead to a recession during summer (US). Downside is clearly linked with a number of macro factors including Fed induced banking crisis (SVB) and dropping lithium spot prices. Lithium stocks have dropped significantly in March 23 so will be expecting more corrective movement for now. The world is moving towards electrification and CXO is now a producer. My forecast is that CXO will exceed $2 in 12-18 months .
ASX:CXOLong
by Itachi239
1
$TIE Looking for a push above monthly open and acceptance. "Range low" has to hold for this trade to work out. Consolidation above monthly open is bullish signal for me to trade into Blue Box as target 1 and onto 2 Worry about target 2 if we hold the first Blue box. Yellow highlighter indicates liquidity and stops that have now been wiped out. Recent news catalyst "TIETTO MINERALS ( $TIE $TIE.ax ) has released " Tietto Ramps Up to Full Production at Abujar Gold Mine " on 20/3/2023 at 9:55 am AEST #Tech #Metals #Drilling"
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by gillman_hugh
KCN facing resistanceMonth chart - facing huge resistance @ $2.01 I;ll wait for a close above $2.01 so i can average up. Day chart - triangle setup has broken to the upside but wait for $2.01- 3 to clear for confirmation. no need to rush this trade. both long and short term charts looking bullish and GOLD will head higher as the Fed will keep monetary policy loose. Fed funds rates will rise but cheap money is still buying up those Govt bonds. the FOOT is on both the BRAKE + THROTTLE. in the end the car will wear out and the market will implode.
ASX:KCNLong
by RogueCleaner