AGI trade ideas
ALAMOS GOLD READY FOR THE NEXT BULL MOVEIf your bullish on gold prices, Alamos could be a great proxy to invest to.
Major 5 Wave downmove was followed by a minor 5 wave correction higher towards 10$.
Now we had an ABC correction towards 6$ of this 5 wave bull move. Market formed a classical flag and broke impulsivley out of it to test 9$ resistance.
I am looking for a corrective type of move towards 7$ to enter with a stop @ 6$.
I will trail the trade with my stop, but 2 main targets are shown on the chart. The 10$ mark is a tough resistance zone. But if gold price rise, i guess its a question of time till this mark will give away. So this major correction construct can go all the way towards 15$.
Note the impuslive break of the flag, is similar to the impulsive beginning of the 5 wave move higher.
The risk:rewards is at least 1:3 and the best case would be 1:8.
Blessings and best of luck to all of you and dont take to much risk on one trade.
AGI: Alamos Gold: The Game is Not Yet Over!Alamos Gold Inc. Is a Canada-based company, which engages in the acquisition, exploration, development and extraction of precious metals. But, for me after a great fall, there exists a possibility of a strong recovery. A break over the red line could be a positive sign to buy this stock.
AGI - 4hAlamos Gold broke its recent low today. Next retrace fib support is the 38.2% at 5.81 (white line). Remember, my fibs are calculated outside tradingview, all log-scale.
Pattern looks like a possible Ending Diagonal in (v) of C of (2). Can try to catch the knife here. Safer play is to wait for an initial impulsive pattern off the presumed coming low, then buy support with stop just under that low.
Gold, silver companies are about to surgeShares of basic material companies are surprisingly surging up after several days of down consolidation. Companies such as Alamos Gold Inc., Golden Minerals Company, B2Gold Corp, Fortuna Silver Mines Inc. and Gold Fields Limited are performing extremely bullish for the last two sessions during which two vital bullish candle patterns have been formed: engulfing and gap. This has been coupled with increasing volume.
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