Breakout trade opportunity, taking a position at a safe place. Stock has had a big rounding base pattern and has been on a downtrend for two years. We are now starting to see a possible early recovery. Looking to
False breakout has occurred over major resistance. Price action is retracing and I am waiting to enter around $28.10, where a few technical confluences...
I had a mid term trade on this back in Feb 2021.
I took profit at the double top which has worked out well.
I have always had it on my watch list and now the opportunity has arisen for me to jump in with a larger stake for a much longer trade length.
This will be potentially a long term investment.
Founded in 1929, Ansell is the Aussie Proctor and Gamble.
from...
Said this before and I'll say it again. 30$ $ANN sounds like a steal. Zoom out and you'll see why.But let's see. Nice megaphone there, crawlingin down a MM froma bearflag.
Looks to be a bullish flag forming in Ansells chart. High probabilty trade on the back of their cv19 tailwinds/fundamentals. Waiting for the break out with bullish candle confirmation.
Ansell Limited (ANN - Sydney) is in ABC wave pattern from major bottom and then shown a V shape rally from that point. Currently price is within 3rd of wave C as indicated in chart. XJO index itself is in C wave up, which drives it even easily up towards C wave.
On the weekly, it has formed a bearish shooting star just below the 13 EMA and fail to break above its high for the past 3 weeks. The MACD and Stoch are indicating a bearish movement to the downside, the Weekly gets a better understanding for long term picture. On the daily, price is underneath 13 and 50 EMA, Stoch is formed a bearish signal as well, confirming...
Retracement Triangle Theory, 4 times only since 2007
Patient with losing trades or with traders that you don't make any money like this one
One loss trade, one win trade with the risk-reward for the second ones just cover everything
Good trading day
Heres my trade setup today $ANN Ansell on the ASX 442 units at 22.56 based on lows trending up and oversold. Interested in this as a mid to long term investment and will play S/R levels along the way. Not financial advice as trading is risky and if Trump has a bad hair day, it can all go pear shaped.
Ansell Cleaning:
Trend indicates another push up to test ATH.
Currently completing a 5th Wave.
Wave 2 & 4 respected the .65 Fib levels.
We see a long term trend being respected.
A price gap from 5 weeks ago is yet to filled, expect the price to re-tested the $27.80 region.
Two Setups available.
The initial catch of eye was the head and shoulders pattern on the weekly chart.
After looking at the daily we see a similar patter to a double bottom ( not a proper double bottom given position of trend, but can also be perceived as a cup and handle. Moving averages and momentum produce a buy signal and so do the candle sticks in relation to volume.
The...
