AUS200 Short - Peak and Trough ProgressionTechnical Analysis - Using peak and trough progression, Wyckoff Method and chart pattern analysis
AUS200 trade ideas
Short AUS200 Re-distribution Wyckoff - Intraday 15 minShort AUS200 Re-distribution Wyckoff - Intraday 15 min
AUS200, AU200, SPI200, ASX200 - 4 Hour Chart - WyckoffAUS200, AU200, SPI200, ASX200 - 4 Hour Chart - Wyckoff - Distribution (within a larger re-distribution trading range)
GET READY! Aussies may have a problem. Price is struggling below ATR line.
Probability south is 55% (45% for the north). How far south if it moves, is another matter.
Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile, and you lose your money, kindly sue yourself.
Bear Flag Break DownBear Flag break down.
Parabolic Sar of this dead cat bounce has flipped to sell.
Momentum on Stoch RSI flipped downwards.
SELL.
AUS200 ShortClean Break and Fib Pullback for Entry...with a trailing Stop, so Risk Reward is adjustable.
XJO Bearish Wedge PatternI haven't seen anyone else post it so thought I'd give it a go, the rising wedge pattern is a common formation in bear markets, the closer price moves within the formation to the apex point, the more likely a breakdown will occur and we are close this point as seen in the chart... We have been respecting this pattern really since the start of the rally which really seems to be looking like it has run out of steam (only slightly higher highs since the 31/03) we have only added on an extra 3% since 31/03.
Even after today's surge, which was looking very strong until it reached the top of the wedge range and acted as resistance.
SPX 500 also has the same pattern and I'm convinced that a big move down is coming perhaps near the end of the formation, which looks to be lining up with a challenge of the 50MA on the daily TF, which may eventuate next week or the week after.
Wait for confirmation of course before entering a position.
AUS200 Short Morning Friends,
As you know I am short on OIL ($10) also short on Gold and short on Stocks.
Have a great trading week ahead ...
AUS200 Resistance for the week aheadThe Fibs have worked perfectly in the last 4 weeks and it has provide some profit taking over the last week.
The coming week we see the following:
1. The buyers have broken the 0.38 fib resistance of 5497 but the sellers immediately took over avoiding the market to go any higher.
2. Monday is going to be an interesting trade day, as we are waiting for confirmation to eighter go higher or lower, but with all the good news on a possible vaccine and the Australia opening soon. My guess is that this market could go higher to the 50% Fib in the coming week.
3. Here are my trades for next week:
3.1 I will sell if the market dip below 5400 with SL at 5500 and TP at 5100
3.2 I will buy if the market goes higher than the higher high, that said my trade is set at 5600 with TP at 5770 and stop lost at 5480.
3.3 The sellers have taken control of the market the eight-time it has reached the 0.38 Fib forcing the market to retreat. Some big sellers around the
the world see this as an opportunity as most international markets(DIJ,SPY and SP500) have broken the 0.38 Fib
Beginner Technical Analysis 101 - Support and ResisitanceBeginner Technical Analysis 101 - Support and Resistance.
When you are first learning to trade, the charts can seem very daunting. I wanted to share with you a quick lesson in market structure that will help you understand a few things.
You know how you don't see any nice cars around until you buy a nice car, and then they are everywhere? Actually they were there all along, but your brain wasn't programmed to see them. I won't get into the way the RAS works in your head but basically you didn't know what to look for so why would you see it? Trading is the same and I'm going to show you something here that will make you see charts totally differently forever - promise.
This is a basic concept of technical analysis in trading and one of the first things I do when I look at sizing up any trade. It's called Support and Resistance.
The concept is simple, prices of assets and contracts have particular levels that they react to. They may rise to a level and then (seemingly miraculously turn and fall back down. As a trader this is disheartening if you don't know whats happening. In fact, its a very simple concept.
When price hits a certain point and turn back down, we call this resistance. When a price falls and then turns back up, we call this support.
The really interesting thing is this - Resistance, once broken, becomes support. Support once broken, becomes resistance. It's one of the most basic, yet most powerful principles in trading and professional traders would never enter ANY trade without knowing their Sup and Res levels.
I've drawn a chart (don't judge me I'm not an artist I'm a trader) to highlight this point. Now you know a secret of the market. You know something most people will never know and next time you see a change in a stock price, think to yourself - "I wonder if it hit resistance" - because it probably did
If you want to learn more about trading and do some real education, I'm happy to recommend books and courses.
Happy trading and good luck!
AUS200Looks to be running out of steam and also approaching the same levels from March 12 where the largest amount of selling entered the market this year.
XJO - Monthly Candle - ABC Elliott Wave Correction Taking Place?XJO - We have what looks like a classic elliott wave correction taking place. At this point in time an XJO Elliott wave ABC correction is a higher probability than a V shape recovery. Will this play out, I have no idea.
context on asx 2004 years of gains wiped in a short span, and now the market is off the lows and fresh into new technical bull market.
So for context, we went into a bear market in like 2 weeks, then within another 2 weeks, its ended and back into green shoots.
This does not sit well with me, as the broader market isnt a basket of commodities, but it certainly behaved like it due to the volatility, which historically is still elevated over different time duration's.
I suspect another lower high, then a slow, painful, grinding deleveraging.
S&P500, Tsx, Asx, FTSE etc have all gone along the same path together in this globalised world, now with debts (personal and corp) at all time highs, rates at all time lows, unemployment at all time (ever in m/m, y/y % terms and total numbers)
this rebound FROM ATH's would be best treated with caution and a healthy level of skeptisim that really wasnt present during its bull run.
ASX200 Macro Structure - Will It Hold?On a macro scale we can see we're under a macro trendline which has been unbroken since 2009 + 2 weekly 200MA and a major weekly pivot point. otherwise, we're still trading in an ascending wedge (bearish pattern) and we'll just have to wait for some proper bearish confirmation of a break to the downside. This would yield at least a retest of the lows. the other scenario is a break above where i can potentially see us reaching right back up to the highs over the next 2-3 months.
AUS200, A day with no stimulus package from the government.For the last 5 trading days, every time the government announces some type of stimulus package to the country, I can see the market surging between 1.5 and 3 percent.
What will happen if we have 5 days with no economic stimulus? are we going to retest the lows of 4775,4400 or a new bottom 3xxxxx?
I have added a Fibonacci from the low of 4374 to the highest of this week 5429.
I still stand to get in LONG if the market can break the 5429 support with TP at 5590 and SL at 5050, and/or SHORT if the market goes below 5035 with SL at 5200 and TP at 4775.
Bounce back to 5660 aroundNot reverse, but just bounce back, waiting for good timing to close long and open short
