$JSEANG Hourly chart looking good Full disclosure - I don't have the best track record on this stock
AU trade ideas
AngloGold Ashanti (JSE) South AfricaUsing Elliot Wave and Fib my analysis indicates that we are nearing the end of a C wave within an ABC retrace off of the top of 20 feb 2019. I believe we are in wave v 0f C. It may also be that this vth wave is truncated and we have already reached the bottom but i suspect we will hit a lower low where wave v will extend to the 1.23 or 1.61 of A fib retracement bringing us into the range of the 4th wave of one higher degree (wave 1). 154-134 is the range i believe we will see a bottom.
I am very new to Wave Analysis but i find it is amazingly accurate. any advise using elliot will be greatly appreciated. I have only read the book and all my understanding comes from reading Elliots theory by Prechter. Awesome read.. but it is somewhat complicated especially when trying to spot certain patterns (leading and ending diagonals particularly).
Thanks
WJ
ANGANG H4 (240 Minute) Timeframe
Reasons For Entry :
- Trendline Breakout
- Head And Shoulders
- Demand 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.
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.
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.
