Weekly Analysis on AU200AUD / ASX 200 by ThinkingAntsOkUse this as a guide to develop your setup.
Main Items we can see on the Weekly Chart:
a)The price is against a significant reversal zone with the possibility of making a double top pattern.
b)At the same time, the price is inside an ascending channel since 2009 and currently is against the upper trendline.
c)If these two technical points work as resistance for the price, we expect a bearish movement towards the lower trendline of the ascending channel.
d)This Chart works with an analysis purpose only. If you want to develop a setup based on this, you should go to lower timeframes such as one day / 4hs and define your Entry filters there.
