Possible long and short trades that can be taken when trading from a value area.
the 1hr 20ma or 100ma cross over can be used as a trigger.
stop loss previous swing high or low.
target at the control line
Trades can be taken from the top edge to the control line - short
and from the bottom edge to the control line - long
entry triggers can be higher highs, HL, LH, LH - double tops/ bottoms - head and shoulders - wicks, or small value areas.
I have calculated a buy value at roughly $36 (fair value based on earnings forecast minus 20% margin of security).
Now we are at this price.
Chart is in the main volume cluster but is falling like the entire sector (PM and MO have the same beta - volatility - at the moment)
BTI is plus affecting now by the fear of american investors due to the falling of pound...
At the western markets, the stock is mimicking each other. We also have a 535 zigzag here. The AB wave is done and we are anticipating a drop to complete the C wave.
The stock, across 3 listed markets, is showing weakness. Can this just be a coincidence, i don't think so. The drop is inevitable. Here we are anticipating a 535 zigzag correction, we already have the AB leg and anticipate a drop to complete the C wave. The truth is price action.
BTI is playing out bearish patterns in all its listed markets. We are in what is likely to be a 335 expanded flat correction. We got the first 2 legs and we are anticipating a 5 wave drop to complete the C wave of the correction. The truth is price action.
With today's price action we have been triggered short on JSE:BTI . If this momentum continues and it breaks through the 665 level, we could see it reaching our target at around the 600 level.
JSE:BTI setting for a long opportunity, note resistance on a higher time frame.
NYSE:BTI has been playing around this level for a while now, close above R714 trigger a long position. However, a clear bullish setup is above R730, where it'll have cleared the R720-ish resistance level that's on the weekly time frame.
R714 is like a low cheat entry, in...
The Stochastic, MACD and the 3 and 15EMA's have all crossed downwards on JSE:BTI which are all good indications of a possible short position. If it breaks lower than the opening of this morning, I will enter short.
The technical figure Rising Wedge can be found in the UK company British American Tobacco plc (BATS.l) at daily chart. British American Tobacco plc is a British multinational company that manufactures and sells cigarettes, tobacco and other nicotine products. The company, established in 1902, is headquartered in London, England. As of 2019, it is the largest...
British Tobacco is one of the few charts that is still printing green candles on the monthly and holding up in these volatile markets
Chart remains sold while we keep closing above R650 on the monthly time frame.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Bti reaches a swing high after launching from the accumulation zone mentioned on the 14th Apr
Now to see if momentum continues, we could possibly consolidate here before the next leg .
Previous link below
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
if we break back below recent trend resistance we can easily dump back to extreme support zones, in this scenario we can target 39.12-36.71-34.31
But if we use resistance as support and bounce we can target 43-44
- While BTI remains above R600, im looking to accumulate for an upside leg
- Defensive stock and great dividend payer
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
