VRX testing break from descending triangle. VRX Silica is sitting on a great product, sand, which can only increase in demand as time goes on. Testing a break now from the descending triangle at 27c. Aiming for over 30c on this one medium term.
VRX trade ideas
VRX Silica (ASX)Nice setup now on this one.
Bottomed at nice confluence zone with multiple fib and support levels. looking to .3 level as target +200%
VRX.ASX Possible repeating patternI'm not so certain of this set up, but I'm keeping a close eye on it still. There is a large triangle that has formed in the price action which within it is playing through a series of peaks and troughs. If the cycle series is correct we could expect to see a bump in the next few days. The 200 day moving average was just crossed and now after hit a resistance level at 0.115 the price is reverting. possible that the price could pull back to 0.100 at the dotted line before it moves up again. I wouldn't expect it to go to the trend line again. If so, I would say that the repeating pattern has been made void. however as further confirmation we have a pickup in the volume to confirm the pattern so I think this could be a good trade. I believe that i will leave a stop at 0.100 and use an upper target of 0.165 and a lower target of 0.155.
