AKE Chart, page-715

Ok. Now I have a bit of time to describe how I traded this today. At this point I don't have an upper price for the current rise this afternoon, but this moring went pretty much as I expected except it went lower than I thought it was likely to, but I was also expecting it probably would could get to 960.

I have been doing this every second day or so for a week, but not always actually following the trading plan. Today I did.

Each moring I look at the main Li stocks from the US ALB,SQM, LAC, Livent and TSLA. I use them to get a few things: the fall.rise as a % from the previous close to the high, low and close for the day against their previous close. I average these % and then calculate the equivalent for AKE and PLS if they followed these averages. I thgen compare these against the channel based trend lines (top and bottom) for the two stocks and the fib targets. I then set the exit and entry points against those. So today I had for AKE:

Low 904 (first) 860 (second), High 937 (first), 1000 (second), Probable max 957 (average of US Highs). When trading the first lows and highs I assume it might continue to the second so I am expecting to reverse my trades if it moves by more than 10c from the target. That is partly due to volume as it takes several trades for me to move the trading stock in and out. At the outer edges I assume it could have an error of 10c so I start trading about 5c before the target and if it changes direction I hit it fast with the rest of the trades. So today on the buyback around 360 I switched for 5k trades to 10k trades when it bounced off my first 5k trade which was 964.

Now we have a flag pole which might be about to flag (it hasn't yet). I would expect at least one more pole of roughly the same height which might take us to somewhere round Tuesday's close, which would be pretty consistent with the US movements, but as I said I haven't yet calculated the next movements so I don't yet have a trading plan/exit point for the next part. If I form a view worth sharing I will post again later.