For most things I trade i don’t do fundamentals at all. CTM is...

For most things I trade i don’t do fundamentals at all. CTM is on that list; I’m only trading the chart. Coincidentally though, I found the other week I’m holding 2 other nickel stocks and around the same time that CTM hit 16 I found the other two nickel stocks I’ve got started to turn up as well. There is definitely something happening in the industry and one of the easiest way to make money is to find good companies in an in demand industry.

not even looking at the trading depth, and just focusing on the chart, 0.017 is an absolute wall that will take a lot to break through. After that 0.018 and 0.020 are the next levels that will take effort to get through. From memory there are a lot of orders at those levels also. Once 0.020 gets broken this thing could fly as high as 0.038 but I think you should expect it to stop a few times on the way to that number.

at the moment I’m using 0.015 as an initial stop but 0.013 is still the lower stop. That is to say, I will be selling a portion at 0.015 if we hit it, and looking to buy back in at 0.013 if the chart shows strength. One thing to keep in mind is that this chart could very well fail like it has the previous two times it hit these higher levels. Taking a broader view though, given the nickel market as a whole is rising gives me a lot more confidence that there is a higher chance that this time around that CTM will run and the chart won’t fail.

if you want to see the framework I’m using to trade CTM, have a look at My commentary on VHT below. I’m using repeating patterns to base the move off. VHT has given me 20% worth of profits at the moment and I haven’t sold it yet.

https://www.tradingview.com/chart/VHT/8NCeZldA-VHT-repeating-patterns-moving-into-a-wedge/