$APT.ASX Short Set up$APT.ASX Short Set up
Nice Morning Star Doji on daily chart : Confirmed
Broken Trend line : Not confrimed yet
Stock overbought : Confrimed
if the stock breaks that trend line then short it for towards the first target
Asx200
Stock to Watch & buy setup in A2 Milk $A2MI am adding A2 Milk $A2M to my watchlist because of a potential bull flag break out in the coming days or week.
If $XJO continues to go higher, this would increase the chances of an upward breakout.
ASX 200 XJO long term outlook bearishASX:XJO
Has broken below the 10 year channel. Will most likely retest the channel and then down towards the primary trend.
AUD/NZD: Correlations confirm wedge breakout?Part 1/2:
Hi traders, the New Zealand stock market has been performing quite well compared to the Australian ASX 200, pointing at a lower AUD/NZD for some time.
Interest rates are still neutral. Technical picture and other important analysis points follow in the next post.
Here is a buy setp in TPG Telecom $TPM TPG broke out of the triangle and a confirmed double bottom.
The price is above all moving averages and now acting as support.
MACD, RSI and DMI are looking good as well.
I went long this morning with a stop loss just below the 200-day moving average (red line)
---
TPG Telecom Limited is an Australian telecommunications and IT company that specialises in consumer and business internet services as well as mobile telephone services. As of August 2015, TPG is the second largest internet service provider in Australia and is the largest mobile virtual network operator.
ASX Fluff Has Pushed A Little Higher. Above ConsolidationMid week trading and the ASX has pumped a little above the consolidation fluff I wrote about for the last 28 days which is actually just good to see some movement in a direction. For strength this market needs to get up to the previous high market to have full confidence that things are changing. Aussie markets to get sucked up with USA confidence. Still dribble IMO unless a more dominant p…u…s…h.…
Also watch out for the battle zone starting at R1: 5624.5 and above…
📈Support & Resistance📉*
Support Levels
1st Support Zone: 5482.9
2nd Support Zone: 5283.0
3rd Support Zone: 4887.9
Resistance Levels:
1st Resistance Zone: 5624.5
2nd Resistance Zone: 5723.3
3rd Resistance Zone: 5943.8
Price Level Consideration
ATH: 7208.2
All Time High Half Way Point: 3604.1
Previous High: 5568.6
Previous Low: 4392.7
🐃 Bulls Verse Bears 🐻
🐃 Bullish above: 6880.9
🐻 Bearish below: 5397.8
Monthly & Weekly Opens
Monthly Open: 5520.6
Weekly Open: 5403.6
AUD/NZD: Correlations updatePart 2:
Here's the correlation chart for AUD/NZD. Interest rate differentials pretty much match the current spot price, so it's the Australian vs New Zealand stock market ratio that we're focusing on (blue line)
The chart shows a strong divergence between the exchange rate and the AU/NZ stock markets, which hints at the possibility of a stronger NZD in the coming period.
ASX Consolidation Fluff,P Action Task For The Week = A DirectionLooking for some confidence or lack of, anything really, to move this market out of this range of chop. Price at Mondays open will be APEXing, so hopefully traders can push this in a direction up or down for some clear trading sentiment. If positive during the week an upward carrell channel could form for the following weeks to respect.Taking sentiment away from the charts and to the global economy there could be down side to come as it can’t keep being prop’d up considering this recession. A direction is needed shortly and the market will show that this week…. or next :P
📈Support & Resistance📉*
Support Levels
1st Support Zone: 5283.0
2nd Support Zone: 5185.5
3rd Support Zone: 21718.4
Resistance Levels:
1st Resistance Zone: 5478.2
2nd Resistance Zone: 5624.5
3rd Resistance Zone: 5943.8
Price Level Consideration
ATH: 7208.2
All Time High Half Way Point: 3604.1
Previous High: 5568.6
Previous Low: 4392.7
🐃 Bulls Verse Bears 🐻
🐃 Bullish above: 6880.9
🐻 Bearish below: 5397.8
Monthly & Weekly Opens
Monthly Open: 5520.6
Weekly Open: 5386.9
If P action can break above the present consolidation it would still show strength to get caught up with this previous zone…
Go Long Northern Star Resources $NSTNorthern Star Resources broke out the triangle this week just like Gold. $GOLD
This increases the chances of $NST heading higher and maybe make a new all-time high in the next week or month.
ASX200 daily- Rising Wedge+failed to break 38.2% Fib retracemASX200 daily- Rising Wedge + Failed to break 38.2% Fib retracement.
According to Thomas Bulkowski "Rising Wedges, especially for downward breakouts, are some of the worst performing chart patterns. Downward breakouts have an unacceptably high failure rate and small post breakout declines. Also, throwbacks and pullbacks occur 72% of the time."
Breakout for Rising Wedges: Can be in either direction, 60% of the time downwards.
Short Analysis on AU200 ( ASX ) 2 timeframes / By ThinkingAntsOk
Main items we can see on the 4HS chart:
a) From the Historical Higher High at 7200 the price made a bearish movement and found support at 4800
b) From there we observed a bullish movement towards the Broken ascending trendlines of the previous ascending motive waves
c) The structure that we can see is a Wedge Pattern doing a pullback to the previous ascending trendline
d) We saw a breakout of the wedge pattern and a corrective structure next to it
e) Our Forecast is that there is a major resistance zone at 5600 -5650 and we will expect a bearish movement towards 4700-4800
WEEKLY CHART:
ASX200 or XJO just fitting curves and a lineWho knows, but I'm guessing volatility on the ASX will be less than NAS or SPX!
Go Long ASX200 to 5726-5800. $XJOIf we can break the 50MA (yellow line) in the next few days, the next level of resistance is the red zone just below 5800.
However, I am no longer bullish if we fail to break 50MA and go below the 20MA (green line) or regression channel.
MA - Moving average.
ASX200 Basing - Are We Getting Ready for a Breakout?- ASX 200 has not recovered as fast as the US Market but enjoyed strong gains today +1.6%.
- Technically we have retraced to the 32% Fib level from our 52w Highs. We want to see a breakout from this level and a push past the 50% level.
- From a Health perspective Australia has flattened the Covid19 curve but some of the biggest contributors to the ASX 200 such as the banks have reported bad losses this week. Overall we are bullish on this market over the longer term and want to see this basing pattern play out.
ASX - Downward Pressure Resumes - Look Out BelowDue to a decisive break out of the channel it can be assumed that the wave II correction is over and we should expect wave III to commence.
It appears that the ending diagonal in wave II ended on the 17th of April.
A break below the start of wave i or 5070 should confirm this.
A stop should be placed above 5599.
Gold/AUD - Pullback - Buying Opportunity? I usually get quite frustrated with the Wall Street idiom of "buy the dip" what amounts to the gross over simplification of an entire field of study to "buy when big line go down" is quite annoying.
That being said...
When i see Gold prices dropping in the current financial and economic climate, YES please! I'll buy that dip all day long
As you can see from the chart below, we have a very nice weekly MACD cross, this has historically been quite a nice sign of a decent pullback in our future, usually to the 21 ema as a minimum.
Furthermore, the weekly RSI is also showing signs of weakening momentum, with the typical pullback landing Gold within the $2,400-$2,500 range, as minimum.
That being said, Aussie stocks are looking a little long in the tooth, with the all ordinaries hitting the resistance i outlines several weeks ago, and while there is still some room to move higher, and in fact we are in a near-term uptrend barring a close below the 5,200 mark, i am expecting the equity markets to continue to deteriorate over the coming weeks and months.
Even as the Aussie economy does begin to 'reopen' and loosen certain restrictions, that will amount to very little, as Australia is still predominantly a resource based economy, reliant on exports of minerals and raw materials. The economy's struggles will be exacerbated with the damage to oil prices, and any real recovery will be out of the question until trade begins to resume.
So the equity markets are suggesting HIGHER gold prices, and the gold charts are suggesting a possible pullback (confirmed with a weekly close below the 9ema).
With the global economy still in tatters and as the world slowly begins to awaken to this fact, Gold looks very likely to catch a bid.
Therefore, any dip within gold is one that i am more than happy to follow that oh so simple idiom of "buy the dip"
-TradingEdge
ASX200 Daily fails twice to clear 38.2% Fib Retracement.ASX200 Daily fails twice to clear 38.2% Fib Retracement.
Also, only completed 1 of three parts of 1-2-3 trend reversal requirement. Time will tell if the 2 and 3 will be completed.
XAO - ASX All Ordinaries - 5 to 15% returns during next 10 daysXAO seems to be tracing a primary wave B up of a cycle corrective wave b. It just began minor C up. We may see the index delivering 5 to 15% of returns during the next 10 days. FOLLOW SKYLINEPRO TO GET UPDATES.
AU200 is a bearish movement coming? by ThinkingAntsOkUse this as a guide for developing your view of the situation:
Main items we can see on the 4HS chart
a) The price made a pullback on the broken weekly Chanel
b) The Pull-back structure is broken
c) Currently, the price is on a flag pattern
d) We expect a bearish movement towards the next Support zone if the price breaks with a clear candlestick the Flag Pattern
ASX - Looking for a 5th wave in ending diagonal.Looking for a 50% pullback in an ending diagonal before another move down.
Neutral for now, patience is the key.
