Goldfields continues to trade within a well defined range R145-R162 since June this year.
If you bullish on the price of gold going forward, these are great levels to accumulate the stock .
Just be careful of a fakeout move to the downside before starting the real move, shakeouts are very common with gold & gold stocks.
we have seen a sign of price increase i.e. the price is making QM PATTERN. If the price wants to continue rising, the price will not fall lower than the LATEST lower low (LL). If the price drops lower than the LATEST lower low, we will stop loss. The TP target is based on a larger TF. I use EMA50 TF Daily as a target. However, I did not place the TP target...
Remains in a declining channel pattern - which is bearish in nature.
A price action below 15800 supports a bearish trend direction.
Crossing above this level will negate the negative stance.
Further bearish trend support for a price action below 15400.
Consolidation range from 14600 to 15400.
Crossing below 14600 might target 13900.
Crossing above 15400 will be...
There are no certainties in the stock market. These names have shown good relative strength and accumulation volume . This may give good risk/reward entries on some of the best names. Some of these charts still need to confirm their price action. This video is my watchlist. Most of these names are at or near all time highs or multi year highs. There are 24 total...
$GFI - with so much attention on $GLD in the #fintwit space, $GFI is definitely a name that requires more attention. this gold miner name has YTD RS to the commodity itself and is setting up a HTF nicely.
one of the prettiest looking chart in my WL
Hey folks, welcome to another breakout trade idea!
GFI is a super strong growth stock in the gold field industry. We can see that the stock has decreasing volume along with support from the 21 EMA and the 10 WMA. This is a really good time to set up a long position!
There are no certainties in the stock market. These names have shown good relative strength and accumulation volume . This may give good risk/reward entries on some of the best names. Some of these charts still need to confirm their price action. This video is my watchlist. Most of these names are at or near all time highs or multi year highs. There are 24 total...
GFI is showing a potential down move based off of our momentum strategy. Although it happened a few days ago, the stochastic, MACD and the cross of the two EMAs are all triggers for a short position.
Bull flag / high right flag on Weekly chart pattern on $GFI.
With further up trend in Gold price this could potentially give a 4:1 RR about 30% return as shown in the chart.
- Goldfields has tagged first target from the bull flag breakout. It also lines up with horizontal resistance from previous swing high \
Bulls will need to capture and hold R223 on the daily to keep the momentum .
Another scenario is we consolidate (build a flag ) to break out to the next level up .
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion...
