Over the past month I've warned you about how the ongoing issues with the emerging markets, the rising petrol prices and with a sudden change with the ANC cabinet, we've seen the rand to weaken back to R15.00 per US dollar.
This has resulted in the JSE collapsing over 14% in the matter of two months.
While the JSE was in free fall, I noticed that investors were starting to pile their money into safe havens such as, resource stocks and even gold stocks.
Well, I decided to try take advantage of this and look for a buying opportunity into one of these safe haven stocks.
In fact, one of these gold safe haven stock's helped bank us a 62.34% gain in a matter of two weeks.
Today I'm going to show you how we did it, so you can watch for this setup next time and how the next gold profit opportunity is lining up as we speak.
Let's get to it...
Do you want to earn an extra R8,589 per month from simply opening an SMS
What I'm about to show you only takes about five minutes to put into action...
You won't have to crunch any numbers...
You won't have to calculate anything...
How Anglo Gold set itself up for a rally thanks to a triangle
In the above daily chart, you can see Anglo Gold was moving in a sideways range all year between R100 and R121 per share.
I know many traders got to the point where they got bored of looking at Anglo Gold and so they took it off their watch list.
Not me... I was watching a different ball game.
Something special and very lucrative forming in the background.
An ascending triangle pattern caused the share to rocket
To put it simply… An ascending triangle is a bullish (buying) pattern with two trend lines converging.
One trend line is drawn horizontally which acts like a ceiling level.
The other trend line connects a number of low prices tread higher.
See the chart below, to visualise it easily.
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Could put you on the path to turning just R10,000 at the start into a huge fortune.
In one hypothetical test of this system, a small starting stake could have turned into R1.19 million in just 3 years.
What most traders' saw as a sideways boring range, I saw as a high profit potential trade.
I was just waiting for the price to break and close strongly above the horizontal trend line.
For Anglo Gold the level I was watching for was at R122.00.
Once price broke and closed above the R122.00 level, that's where I knew the buyers had won and were going to push the price a lot higher.
Without any hesitation, I sent a simple SMS and email to my members to get in at R124.98 and place there take profit at R136.95.
In just 11 days, the increase demand and momentum caused the share price to shoot right past the take profit where we managed to bank a decent 62.34%.
The best part is - it's far from over
Right now, I see another gold company lining up this exact setup.
This next profit opportunity can kick in any day now.
“Wisdom yields Wealth”