AXE looking to continue its BULLISH trend all the way to its ATHAs you can see over the past few weeks we have seen AXE follow this channel with only 1 touch to its support. There is still a moderate amount of buying volume entering the market and we are looking to close in on its supports 2nd touch. This interaction "may" see AXE try to achieve its all time highs by the mid to late week on the back of FOMO and extra disposable income due to the 2020/2021 EOFY tax returns.
Buy order: $1.000-$1.010.
Stop loss: $0.920 (-8.46%)
Take profit ranges: $1.100 (+9.45%) / $1.200 (+19.43%) / $1.250 (+24.35%) / $1.335 (+32.89%)
Not financial advice. Be safe and good luck!
Asx200
SBM - Trade PlanSBM has broken out of it downtrend line with High Volume indicating a possible change in trend. There is also MACD Bullish Divergence indicating a change in momentum. This shows that the risk to reward is on the upside. My plan is to target the initial resistance level of $2.05 (potential 10% gain) with a tight stop below the recent low.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
MAG - Bullish Trade PlanMAG plummeted hard but seems that it has managed to find support at the 78.6 Fibonacci Retracement level. This is a positive sign and any bullish price action should provide confidence to get long. My initial target would be $0.180 (potential 30% gain) with a tight stop below the current swing low.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
SLR - Bullish Trade PlanSLR seems to have found support at the current levels and recent price action suggests that it may continue higher. MACD has also printed a bullish cross which may be a sign that price may head higher. My target would be $1.920, the next resistance level (potential 10% gain) with a stop below the current swing low.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
SSR - Potential Buying OpportunitySSR broke out of its downtrend in April 2021 and made a high of $24. 40 , in the beginning of June. Since then it has been pulling back and currently at its 61.8% Fibonacci retracement zone. Price Action at the current zone shows that it has found support and any bullish price action will be an encouraging sign to get long. My target will be $23.15, the next Resistance level (potential 10% gain) with a stop below the recent swing low.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
GOR - Bullish Trade PlanGOR has pulled back as expected and a good buying opportunity may be coming up again. The current pull back is expected to get exhausted and I expect price to turn bullish as this is the 61.8% Fibonacci zone. Any bullish price action at the current zone may be an opportunity to take a long position targeting the recent highs. My initial target would be $1.500, the next resistance level (potential 13% gain) with a stop below the swing low.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
EVN - Bullish Trade PlanEVN took a beating after gold price dropped but it seems that this current pull back is about to exhaust at the 61.8 Fibonacci level. Some bullish price action at the current levels will be an encouraging sign to get long for a potential target of previous highs. My initial target would be $5.00 level (potential 12% gain) and a tight stop below the current swing low.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
NCM - Bullish Trade PlanNCM - After breaking its uptrend, it has pulled back to its Fibonacci 61.8% zone and is showing good support. I will be watching price action at the current levels to see if it shows bullish price action to get long for a target of $28.00 and above (potential gain of 10%), and a tight stop below the current swing low.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
NST - Trade PlanNST has pulled back to it's Fibonacci 61.8% zone and is showing signs of support and bullish price action. I am bullish NST targeting the previous highs of $11.80.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Risk Management - Tom DeMark TD 9 Still in Play ASX200 $XJO Was 7406 the top for the short term?
Was the breakout this week a bull trap?
Technical indicators such as the MACD and RSI are still with the bears.
If we close below the 21 daily moving average, time to reduce position size and risk until we can close above 7406 again.
API - Trade PlanAPI had moved up strongly breaking the bearish trendline but has pulled back lower again. It could be backtesting the breakout zone for price to move higher. I will be taking a long position if price action confirms with a stop below the low and targeting the recent highs.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ZEL - Trade PlanZEL dropped hard but bounced off strongly off its Strong Support Zone and it could be a false break. The current price action looks bullish and I am targeting the recent highs of $2.68 (potential gain 7%) with a tight stop at $2.38.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
SIQ - Trade PlanSIQ may have changed its bearish trend after the break of the downtrend line so any pullback lower may provide a buying opportunity. It could backtest lower towards my Buy Zone between $6.80 - $7.00, where I may take a long position once bullish price action is confirmed.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
SXL - Trade PlanSXL has managed to close back inside the Parallel Channel with the lower end of the channel as strong support. The recent bounce off and High Volume suggests it may move higher. I am targeting the POC of the Volume Profile at $2.35 as my TP (potential 10% gain) with a tight stop below the recent swing low.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
AVH - Could provide a Buying Opportunity!AVH has bounced off strongly off support and the break lower could be a false break of Support. My Buy Zone is between $4.75 and $5.00 where I may be buying the pullback once price action confirms it, with a potential target of the previous highs. Price is currently showing resistance at the 200SMA and could pullback lower to provide a new buying opportunity.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
VEA - Buy the Pullback?VEA has strongly moved to the upside, breaking the downtrend line suggesting that the downtrend may have finished. Currently price is pulling back to backtest the broken trendline which may act as a Support Zone. This may provide a very good opportunity to buy the dip around the Buy Zone of $1.850 - $1.920, with a target of the next Resistance Zone between $2.175 - $2.275. I will be buying once bullish price action confirms it with a stop below this swing.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
NVX - Buying Opportunity!!NVX has broken out of the bearish trendline with High Volume and a MACD Bullish Cross, showing conviction of the Bulls. This price action suggests it may go higher towards the next Resistance levels. My Tp1 is $2.75 with a potential gain of 16% and TP2 at 3.00 with a potential gain of 27%. My stoploss on this trade will be below this swing low at $2.00.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Still bearish on ASXXJO looking to tumble soon. Lagging diagonal in white is complete, married with decreasing momentum on RSI, tells me we are due for one. It is unclear for how long roughly though. Lagging diagonals usually herald an intense drop and a complex correction. We shall see, as we live in unprecedented times financially. Goals in purple.
None of the above is financial advice, please do your own research - your trades are your trades.
BXB - Another Buying OpportunityBXB has clearly broken its downtrend and has made a swing high. Price is expected to pull back and I am expecting it to reach towards my Buy Zone between $10.70 - $10.80, which is also trendline support. I will be looking at price action in that zone for a long opportunity and my targets will be the previous highs and above with a stoploss below the new swing low.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
CIM - Buying opportunityCIM has pulled back nicely from resistance as expected, furthermore is expected to provide another great buying opportunity. This pullback could turn around soon, ideally form my Buying Zone between $19.30 - $19.60 for an upside target of TP1 at $21.40 and TP2 at 23.70. My stoploss shall be the low below the current swing low.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
TPG - Bullish Trade PlanTPG broke out of the Bearish trendline with very High Volume. This makes me bullish TPG with an upside target of broken Support level of $6.60. Any retracement lower could be a very good buying opportunity to get long.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.