ASX: XJO- S&P/ASX 20-0 Index Analysis - Crucial levelsASX:XJO
6565 levels are crucial for XJO previous swing low
Second support is at the Fibonacci levels 6453
Also hitting supply zone - previous top that's in a rectangle box.
XJO trade ideas
ASX200 looking like a rough day ahead. Buckle up Rough day ahead given the sell off on US markets, fear of inflation and rising bond yields. I'm expecting a drop onto 50EMA today with possible break below to take us down to 100 EMA/bottom of channel next week or two. Buckle up :-(
Neutral on the next moveThis graphic is self explanatory but needs to be followed daily if you trade the ASX. This is a wait & watch situation.
abc correction of second wave of higher degree III wave? abc correction of second wave of higher degree III wave. Volume cluster at 6800 and channel resistance above.
A tough week on the ASX, what does next week have in store?Pretty tough week on the ASX 200. Price down around 1.5% for the week. Could be seen as a minor correction. Price has broken 50EMA and now sitting at just below a 3 month trendline and at the bottom of the Bollinger band which has historically provided strong support so we could be looking at a slightly more stable week next week as prices recover however some US markets such as Nasdaq showing signs of stress and correction which would naturally see ASX follow. Our sentiment is neutral for the week ahead with the most likely expectation being a flat(ish) week ahead but only time will tell. Trade with extra diligence over the coming weeks especially on long positions.
For educational purposes only.
Do your own research
We have not closed below this level for months ASX200The trend is your friend, I am still bullish in this market,
however, we must hold the 50 moving average on the 3 Day chart "yellow line", currently sitting at 6400.
We have not closed below this level and 50 moving average for months....
ASX200 Short term Swing LongKey Level for support.
1HR chart creating a D/B with strong Divergence.
Anticipating hold and bounce in a short term
CSR Ltd (on ASX - green) vs peers HVN, GWA; indices XJO, XDJBuoyant CSR Ltd (on ASX - green) vs peers Harvey Norman (HVN), GWA Group (GWA); indices XJO, XDJ (light green), XBK (red).
XJO AUS200 rising resistance incoming - short or long possibleXJO AUS200 rising resistance incoming - short or long possible
If Daily bounces of resistence for 1-3 days, short, finishes above for 1-3 days, LONG!!!
XJO range boundThe XJO has had a weak bounce compared to its big brother the S&P, its now consolidating ready for its next move a potential double top I have been in and out short on this one and with all the government stimulus I have played this one wrong. Maybe I should have focus my shorts on the Aussie banks and flipped the XJO as a long.
As 1.9T of stimulus rolls out in the US economy and if the market deicides to play drunk and push the S&P higher we should see a nice rally on the XJO making new highs.
6260 would be an invalidation and you should then look for shorts.
ASX200 Supercycle end?A potential scenario for XJO using Elliott Wave. Some other scenarios include an alternate placement of (IV) and an extension of (V) but this one has the best fit.
I go into more detail in this video:
www.youtube.com
Not financial advice, DYOR.
AUS 200 IS RIDING INSIDE CHANNELAUS 200 IS RIDING INSIDE CHANNEL .
WE ARE WAITING HERE FOR DECISION :-
IF MARKET SHOWS SOME REJECTION WE WILL DECIDE TO SELL 🍅
AND IF IT BREAK THE CHANNEL THEN GO FOR LONG.🥦
📢IF YOU LIKE MY IDEA HIT LIKE BUTTON👍 AND REMEMBER TO FOLLOW FOR MORE UPDATES⏳
XJO ASX200 will bounce off upper resistance and go lowerXJO ASX200 will bounce off upper resistance and go lower
Risk Management - ASX200What a close for Australia ASX200,
closed below 20 MA and 50 MA.
If we gap down and not close above 6586 early next week then support will turn to resistance.
This would indicate a pullback or correction is very likely...
Cycle of 5 x 60I believe we are going to see another flash crash here, price has progressed for 2 units of time (120days) declined for 1 unit of time (60days) and gone up another 2 units (120days) signalling a change in trend. :) Good luck :)
AUS 200 dump, and the sweet little bear flagWe've a good short opportunity here. I'm in at the top of flag.
What is happening here? What is giving us clues here?
Let's chat further about this in the network.
Cheers and trade safe
Dale
Where to from here for the ASX200Is the pullback today the start of something more sinister or just another flush lower to clear out some of the weak hands before having a run on new highs. We can see that the momentum is fading as we run up into previous highs but we have seen this action prior to making new all time highs that start of last year. For now, the 6585 area is key to hold to support the bulls. We will see in the follow few sessions whether the market is flushing lows prior to a run at highs or whether there is more downside to come.
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