AMS Seeking Long-term Low

Sep 9, 2023

Angloplat chart shows that price is in long-term decline and we are getting close the COVID low price. Price action has respected the Pitchfork and we see an area where there will be expected to be strong support, the intersection of the Pitchfork support and the horizontal support line. Before we get there we might find a turning point where the lowest price of the COVID low closed.

The blue trendline is the line defining the weekly low, this we know when price close above this line and the 10 week moving average, whereas the green trendline represents the yearly low price.

Nov 5, 2023

Note

AMS has confirmed a daily cycle without failing, this means price is reversing to the upside enroute to confirm a weekly low.

Dec 10, 2023

Trade active

On the Pitchfork for AMS it is worthwhile to add the 0.382 & 0.618 fib lines, price is currently sitting on the 0.618 but pursuing a DCH, some profit can be harvested here for a gain of about 20%. This can be deployed on confirmation of a daily cycle low.

Feb 24

Note

AMS is now in a failed cycle, can hold position pending confirmation a weekly low. The profit harvested can be deployed on that weekly low.

Jun 2

Note

In week 39, Angloplat looks certain to break below 4 September 2023, this shows the importance of partially taking profits than give it all back. it is best to below 4 September and reset the cycle.

Jun 16

Note

AMS has reset the cycle, now we are looking for a swing low on the weekly chart & close above the 10 week moving average for a long position or re-deployment of the capital plus profit harvested in December 2023.