Anglogold Ashanti LTD Gold stock is creating new buy opportunities at a new weekly demand imbalance created at around $12.35 per share. This gold-related American stock is highly correlated to Gold XAUUSD since Gold has been rallying lately, creating new bigger timeframe demand levels; many gold-related stocks are rallying together with Gold creating new demand levels to trade from if price retraces to them.
It can take some time for the price to retrace to Anglogold Ashanti’s weekly demand level, but that’s what supply and demand traders must do, look for the footprints of big investors and wait for the price to retrace to these new strong impulses and imbalances. The supply and demand strategy requires waiting for the price to visit the move’s origin.
The attached chart represents the weekly timeframe, a longer-term timeframe. Similar price action and imbalances will be created on lower timeframes for those doing shorter-term trading using supply and demand imbalances and trading gold.
Anglogold Ashanti Ltd stock has a bullish bias with the weekly timeframe in an uptrend creating new demand levels, no shorts are allowed right now. We just have to be patient enough and wait for the pullback and retracement. In the meantime we can trade other stocks and assets or trade lower timeframe imbalances on a different account. But it’s clear that the strongest imbalance and impulse is down there around $12.35
This is the technical analysis you will learn in our online trading academy. You will learn how to locate new supply and demand imbalances and trade without using any indicators, no news, no fundamental analysis, no earnings announcements, no volume or VSA analysis. Just supply and demand imbalances.
Trading supply and demand imbalances are ideal for beginners and those with full or half-time jobs. You won’t need to stay in front of the computer all day long trying to move price action with your mind.
As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and react strongly to those imbalances. Why do you see positive earnings and then the underlying stock drops like a rock, or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances in gaining control.
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