AUS200 trade ideas
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…
AUS200 4hAUS200 is forming a wedge, capping around 5500, and finding support around 5300. A break out of these levels could signal a new trend formation.
AU200AUD Elliot Wave Symmetrical Triangle Pattern The Australia 200 looks to have formed a nice symmetrical triangle pattern with 5 waves complete. Price is above both the 50dma and 20dma providing some bullish confirmation. Target is the 61,8% fib which is also at the 100dma
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 AU200AUD0.618 retracement level
reversal pattern ascending channel
divergence on MACD 4C
continuation pattern on a smaller time frame. Bullish flag pattern
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!
ASX - A couple of 1-2 1-2 Waves Have Set Themselves UpGet a nice tight stop on this green wave ii double top.
We should start seeing some action in the markets today.
Check out my previous ideas on this leading up to now.
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$XJO asx200 respecting old Gann & phantom channel lineWeekly Gann Chart
Current view shows strand lines and level support resistance lines. I will stay neutral at this point.
Long on candlestick confirmationAscending triangle pattern forming nicely on the daily chart, shift down to the 4H chart for a confirmation candlestick and take your trade long.
Obviously if the price closes under the 5363 or worse under 5338 level this strategy is not working.
please leave comments below.
AUS200 buya retest of broken fib level is coming before a further push to the upside. Lets trade with the banks
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.
S&P ASX 200 Index technical analysisThe Index had a head start in yesterday's session after bouncing off at 5200 and breaching 5244 and 5288 resistance before closing the session at 5318. These are my estimates to the upside if it holds above 5244.
Target 1 - 5365
Target 2 - 5484
Target 3 - 5530
