CLF before 10% gain... The exchange rate on the wave axis (green line) builds wave motion. The wave motion begins with two intense stages. Currently, the second phase is under construction. This level finishes at 10.97 usd. From there, I have a sideways and then a repeat rise. The target price is 11.43usd.
CLF trade ideas
$CLF iron ore will be the guts of the wall #infrastructure $CLF is United State's best and largest high grade iron ore producer which goes into American made steel. Business is already booming and with the $VALE disaster $CLF will be seeing significant more business at higher prices and higher margins. I am adding more shares here at support to make $CLF my largest position again. #Infrastructure buildout coming for our roads, tunnels, bridges.
$CLF gathering for a run to new highs. #SHORTSQUEEZE Coming$CLF just announced blowout earnings & shorts continue to get it wrong and in fact add to their losing position. Short interest has just grown to over 55 million shares and the stock continues to stair step higher. I am buying back the shares I sold on the earnings report and now approaching a full position again. $CLF is forming yet another bull flag and great long entry here at 8 day ema which has been support on this run higher.
$CLF Bull flag breakout heading to Sept $13 highs. #Shortsqueeze$CLF ripped higher last week on 6 times normal volume on iron ore disruption news from $VALE and has been consolidating on low volume in a bull flag. $CLF is a pure play on high grade American iron ore and is set to to take advantage of skyrocketing iron prices. Trump is going to build his steel wall one way or another and I can guarantee American materials will be used and $CLF is set to take advantage. By the way, there are over 48 million shares sold short as well. #Shortsqueeze #Infrastructure #USA
$CLF Buying the dip. USA pure play iron ore going higher. $VALE$CLF is the largest independent iron ore producer in the United States and will take an even larger lead in 2020 with brand new HBI plant in Toledo coming online. With the disaster in Brazil by $VALE who is likely the largest iron ore producer in the world, there will be a need for alternate suppliers such as $CLF while some of $VALE production is offline and new iron ore investment by $VALE is off the table. Iron ore prices will be going higher.
Cleveland-Cliffs 12 RRR shortTrading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based Fibonacci retracement triangle is drawn starting from the earliest trend touch point and ending at the earliest touch point of the opposite trend line .
4. Based on the degree, of the earlier defined angle, the appropriate (and secret) levels are selected for the fibonacci retracement ; two levels for stop-loss and two levels for take-profit. The closest stop-loss level to the current price level is the top priority stop-loss. Though the secondary stop-loss level is often chosen for some markets such as FX and some equities in order to account for seldom unexpected resistance breaks. The greater target level is the top priority, and where majority of the shares are sold, though some may choose to close part of the position at the first target level or set it to be the stop-loss once price exceeds it. Entries should be laddered in around the levels closest of the yellow line.
This trading strategy can be applied to any market and time frame, and positions most often garner the greatest risk-to-reward ratio with the highest success rate. What more can you ask for? I will only be posting my unique trading strategy until EOY. I work solely with price action to identify pennants and apply unique trend-based fibonacci retracement levels for SL and TP levels. Reach out to me if you have any questions.
CLF before 26% rise...The exchange rate has begun to rise, from the correction axis (yellow line) that coincides with the intersection of the wave axis. Here I note that the axis of the fractal point coincides with the axis of the wave axis with the mirror axis. This means that the exchange rate increases with a strong D1 parameter ATR, which is likely to increase. We assume the construction of a dual wave structure where we are in the first rising wave structure. Correction for 10.35 usd and second wave structure will be expected. The primary target price is 11.72 usd. With further rise in prediction.
$CLF bouncing at triple layer support. Looking for a double.$CLF recently posted strong earnings and instituted a dividend. $CLF is the #1 pure play iron ore producer used in making steel. I am looking for infrastructure rebuild to be a theme in 2019 of which $CLF will be a vital player. $CLF is buying back near term debt and has a strong free cash flow which is improving every quarter. Longer term I am looking for at least a double from here.