ANGLOGOLD ASHANTIBelow is the bullish trending channel broken out, we can either wait for the re-test of the breakout which is also at the GAP area i.e. 18956 to enter the sellers or we can sell at current market price.
AU trade ideas
JSE:ANG Anglogold Climatic ActionAfter a strong markup out of the accumulation trading range, there have been two steppingstone re-accumulations. The markup has broken the initial increasing trend channel and has now formed a steeper channel. Last week though we saw a climatic bar on volume and a strong reaction of the highs. There is divergence with the volume RSI. This indicates that a trading range is likely to form. After completion of the Automatic Reaction (AR) we will look to see a Secondary Test (ST) of the highs and then watch how the trading range develops.
Double bottom forming on the hourly - NFP this afternoonDouble bottom forming on the hourly - NFP this afternoon
Next leg higher after closing gap Next leg higher after closing gap. Hourly close above R204.50 confirms
Close above R190 triggers fresh buy signal Close above R190 triggers fresh buy signal - can look to add to existing long position
AU Ready???Earlier today I posted my first chart. This is a follow up on the AU trade. I like to locate trends and probable entry points using longer periods, such as the Monthly. The upward trend on AU is clear using the monthly chart. I wouldn't go as far to say that it is confirmed because AU did gap this morning. If you are like me, you trade by the idea that all gaps fill, so I am reserved until I see a higher high and higher low. A retest of the 19MA will confirm the start of a channel to trade around.
Targeting 13.07
$JSE-ANGJSE:ANG
Weekly chart made cup, broke neckline and and now back testing it.
If it plays out target is in 260/280 region.
This is longer term play.
Gap to close on ANGJSE:ANG has formed a bearish harami which is a strong reversal signal. This could signify a change of direction to a downward move. There is also a gap to close that formed on the 20th of Feb.
Gaps tend to act as magnets for the price and like to be closed. I have entered a short position and will look to close either once the gap has been closed or further down at 18000. The 18000 level is quite a significant support level, so I wouldn't be surprised if it went down to that level.
$JSE-ANGJSE:ANG
Still moving strongly up.
Resistance are around 23000 above that 25500.
Support for now is 20000 (gap from yesterday) this should be run away gap.
NYSE:AU long idea After a weaker and decreasing season, the stock started to increase last August and it's been increasing since then. Now it reached a critical level that stopped the stock's rising 2 years ago. If it can break through this critical point around 13.7$, it hasn't any serious obstacle up to 22$ which was a peak for the stock a few years ago. The technical view shows a very strong increasing trend and even the 35 days MA seems very strong support for the stock. It' looks very promising right now.
ANGLO ASHANTI LTDMy entry is rather to wait for another possible confirmation the sell as per length of my arrow.
ANG : JSEDouble Tops formed around the supply zone is a good signal to look for sell entries towards the marked support.
Anglogold Ashanti Limited gold related american stock buy setupAnglogold Ashanti Limited gold related american stock buy opportunities with monthly demand level around $7.50 in control and creating new monthly and weekly demand zones after creating a very strong bullish impulse as a reaction to that imbalance.
New monthly and weekly demand levels created around $10.40 and $10 respectively. We cannot and should not sell short a stock if there are new demand levels being created, impulsive moves are now bullish eliminating supply levels, the bias should be longs at new demand levels.
We do not take into consideration any fundamental analysis, no earnings announcements or volume, we do not need any of that to make a trading decision based on supply and demand imbalances. We just need to know where those imbalances are located and what is the bigger picture trend on the stock.
You can also use various options strategies to take longs at demand imbalances, long calls, spreads or any other strategy that you might have on your trading plan.
Still if you want to pay attention to fundamental analysis of this stock, as reported by Bloomberg, AngloGold Ashanti Ltd. said full-year profit, excluding some one-time items, climbed more than sevenfold from 2017, after it shut and sold mines in South Africa and lowered amortization in Brazil.
Headline earnings for the period are expected to be between $207 million and $224 million, up from $27 million the previous year, the Johannesburg-based miner said in a statement on Monday.
No need to pay attention to fundamentals, in this case it is also helping the trading decisions to go long since the fundamentals also give us a bullish bias, but fundamentals will most of the time align against these imbalances preventing us from taking high probability trade setups.
$JSEANGJSE:ANG
After strong move higher consolidating in small falling wedge.
Break above wedge will probably target area around R20000
Taking a position on AU as the market was in a correction phaseAfter researching the trend of AU on 10.10.18, one of my worst days as a novice and new trader, this stock hit my radar. I followed it early on 10.11.18 just to be sure that it would break thru the resistance line set up over the last 20 days or so, and then jumped on at 9.37
With a price so low, most traders with any type of bankroll can get their hands on this.
I am not looking at some huge gains on the chart, but rather stocking up and allowing just a few pips to get it done in a matter before Halloween and Thanksgiving.
Using the trend lines I placed on the chart, here are my targets:
Target 1: $10.40
Target 2: $11.75
Would love to hear your thoughts.
