LGDTF // cup handle formationAlthough there is a cup handle formation image in the chart, the targets are drawn according to Fibonacci. As a formation condition, we should look for closings above the 0.2752 level.
0V46 trade ideas
Mild Bullish Divergence in LGDTFI don't know if anyone actually trades this, but I've been holding some bags on this piece of crap for a couple of years (don't ask) and check in on it from time to time.
It's been trading in a decent range for the past 6 months (give or take) and recently put in a new low at $0.66, creating a very mild Bullish Divergence. Its Correlation Coefficient to gold is currently near 0, but historically oscillates closer to 1 (as you'd probably guess).
This is not a prediction, and certainly not a trade recommendation, but if inflation keeps running hot and gold advances over the coming months, maybe this can catch a bid and head back up near $1 or higher. Alternatively, if there's follow through with the selling, I'd guess it will be trading sub $0.50 in short order.
Take all this with a massive grain of salt, and proceed with caution.
[Long] Liberty Gold Bullish Running CorrectionThe Gold bull market continues to surprise to the upside. Now that Gold is at all time highs, it opens the door to investors who prefer to buy big breakouts.
Here is Liberty Gold with what I think is a bullish running correction, very similar to the one I posted in Gold itself a while ago.
Price unable to make a lower low even after a strong move, MACD has been cooling off while OBV shows very strong dip buying.
Over 1.80 and I would expect to see a strong move higher. It can consolidate for a few more days if it wants to.
IMO, I like small names because they can still "do their own thing" when the broad sector is very overbought. Always manage risk.
Near term risk is a pullback in Gold metal, possibly testing its ATH breakout. I expect it to hold and the bull market to continue for a while.
Liberty Gold Analysisshort term - it could retrace to the bullish trend line.
long term - higher probability of it hitting 1.98 and 2.40.
As I begin to get enquiries on my opinion on different stocks, ETFs, etc , please note that what I am offering is NOT a trade advice but merely additional information you can used for reference purposes. Trading/investment can be risky so always employ stop loss, exercise appropriate capital management and whenever in doubt, wait on the sideline.
Just because others are getting euphoric over the recent market rally does not mean you have to join in (I know it is tempting) but if you have to, ensure it is capital that you can afford to lose and not money that you need for monthly expenses. And never, never , never borrow money from banks no matter how low the interest rates are to trade/invest.
I know what some of you are thinking. Wow, if I can make 10% a month and the interest rate is at 2%, I can easily pocket 8% profits. Not bad huh ? Yes it is but the question lies in your discipline. Most of us are not (myself included from time to time) and we allow our emotions to rule over our heads. We won once, twice and think we are better than Warren Buffett, criticising him for disposing airline stocks when it rebounded 30% from the bottom. Some think making money in today's stock market is so easy , requires little skills and get complacent.
News like this tell you more retail players are coming onboard which is good for the stock market. I have said before, if I am going long, I would want more buyers in the queue so the price can keep on going up. But the point is where is the entry they are getting in ? At 25000 on the DJIA, 3000 on Nasdaq or SPX500 at 3000?
Yes, high can get higher but it can also falls just as hard. Nothing goes up in a straight line forever.
Learn to manage your psychology in trading - one of the hardest element and one that I think is the most important. Trade ideas, strategies are much easier to pick up, trust me. There are tons of ideas on the internet, free if you bother to look and research. And that is also the challenge, too much overwhelming information which can cause confusion, falsehood and delayed action.
Because you are fearful, you keep on researching and fail to pull the trigger until the price ran up and when you finally decide to execute, the price immediately retrace. And your own fear plays out, trading is risky and can lose money and your man-made fear caused you sleepless nights, stress and anxiety. Eventually, you sold out before it has a chance to take off again.
Been there, done that so I know how new traders feel and behave. And some may made good profits on demo account but when they transfer the same skills onto a live account , even on a micro account, they cannot take it.
So do not underestimate this seemingly easy to make money game. Too many had fallen for it and more will come. But if you work hard, put in your due diligence and exercise discipline and consistency, this can be a profitable business for you. And in all business, it requires dedication, time and effort. No such thing as nothing for something.
Lastly, I leave with you my favourite verse here to ponder on. Best of luck, my friends!
LGD - Small Miner with PotentialThis is a Katusa pick, but it is showing some breakout. Track accordingly I will buy below the trend line as gold stays macro positive.
Liberty Gold - Moving along the Upwards TrendlineJust moving along the Upwards Trendline for now. Bear in mind, this company hasn't made a single profit. But has a great balance sheet. Will take a long while, before it can produce gold.
One possibility is a potential sale of the discovered mine. But the company needs many more drill reports, to verify the size of the find.
[Long] LGDTF weekly breakout potential.Liberty Gold has been consolidating under resistance for like 10 weeks now. It's got a LOT of energy built up if it breaks higher.
LIBERTY GOLD CORP - TSX: $LGD.TO OTC: $LGDTF Buy On PullbacksOver the course of the past several weeks, market participants were witness to a major multi-year break-out in Gold, the physical metal, and as a result, numerous precious metal mining stocks have found the wind at their backs and have followed-through with exceptional upside action with LIBERTY GOLD CORP - TSX:LGD OTC:LGDTF one such example as evidenced in the Daily chart above.
With the stock recapturing its 200 DMA and now trading above all of its important moving averages 20/50/200 DMA's, LGD finds itself in a healthy technical posture.
In addition, when one extends out on the time-frames to both the Weekly and Monthly durations, we can see that things are certainly taking a favorable shape with LGD .
Thus, while we suspect that Gold, the physical metal, may be in need of some consolidation in order to digest its recent run, we continue to focus on those precious metals miners whom exhibit favorable characteristics and seek to do additional buying on weakness/pullbacks.
Therefore, both investors/traders may want to continue to monitor the action closely in the days/weeks ahead for potential opportunities and put LGD front-and-center on their radars.
