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Mtn Grp Ltd

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XJSE_MTN_CFD trade ideas

Picking bottoms in MTNWell, this is very much against the trend, but there could be a triple bottom forming. Buying here gives us a 1:3 risk-reward ratio, which we think is attractive. Our trade is from this support level to the 200-day moving average. Should the triple bottom formation play out, it opens for a target well above the 200-day moving average giving the trade a 1:6 risk-reward. Our play here is to either stop out below our stop, or take half the profit on the 200-day moving average and keep the last half of the trade open, on a trailing stop, and sell at the formation target (around R117).
VELOCITY:XJSE_MTN_CFDLong
by Herenya
MTN - Potential Long Position coming upA 5 fractal formed on the 29th of September which caused us to draw a downwards resistance trendline. This line was broken yesterday after it formed a bullish engulfing candle on Wednesday. This engulfing candle is at a strong support level so it bodes well for an upward move. We are still waiting for the trade to be triggered. If it doesn't trigger today, I'm sure it will trigger sometime next week. Our target is up at the R129 level which coincides with a nice resistance level.
VELOCITY:XJSE_MTN_CFDLong
by RossLarter