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S&P/ASX 200 IndexS&P/ASX 200 IndexS&P/ASX 200 Index

S&P/ASX 200 Index

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7000 Break or Bounce?In our previous analysis we mentioned how 7000 was an important level in the ASX market and how the breach of the level could trigger a shift in the market sentiment to bearish and signal continuation of the overall downtrend. Round numbers are of significant psychological importance and act as areas of interest attracting a lot of liquidity including stop and limit orders. As price now approaches 7000, the question now becomes, what happens next? As we know, it takes a "large candle to break a large psychological number". Break or Bounce?.... Bears Make Money, Bulls Make Money, Pigs Get Slaughtered!
PEPPERSTONE:AUS200Short
by Swiing
ASX200: Thoughts and AnalysisPattern – Continuation HL Support – 7035 Resistance – 7100 Hi, and thanks for checking out today's update. Today, we are looking at ASX200 on the daily chart. Today's video asks if the ASX200 will confirm a continuation price pattern we are watching develop on the daily price chart. Buyers look okay after holding support and forming a bullish bar in today's session. The worry is the fade we are seeing. If the price fails to hold above yesterday's open, that's also a worry. Other than that, we have the MA pointing up with an LH and a support hold after the new leg higher breakout, all showing buyer support. Let's see if we can see a confirmation bar on Monday if we get a trigger bar today. Good trading.
EIGHTCAP:ASX200Long
by Eightcap
RESISTANCE AT 7125?Since breaking below the 7125 zone on Sept the 21st; Price as now revisited the zone for the 2nd time, and again, failed to close above it creating what would seem to be a Double Top formation. As we slowly approach the end of the Month, it will be interesting to see if the bears will once again step in and drive the market lower with a red candle close for November. A bullish break and close above 7125 negates the bearish bias and potentially opens doors for long positions. Patience is a Position
PEPPERSTONE:AUS200Short
by Swiing
Lower High In?As price consolidates ahead of Employment Data this week, we can see that over the last few sessions, price has been hovering around the 7.000 area; an important level in the AUX Market. If the bearish forces remain dominant and price fails to break the previous Lower High; we could see a good set up for shorts over the next few trading days. However, if price remains is consolidation or breaks above the previous LH; this could indicate a shift in momentum to the upside; in that case, a fresh analysis would be required. Patience is a Position
PEPPERSTONE:AUS200Short
by Swiing
4
ASX200: Thoughts and AnalysisToday's focus: ASX200 Pattern – Support/ Regular Divergence Support – 6885 Resistance – 7000 - 7070 Thanks for checking out today’s update. Today, we have run over ASX200, breaking down the overall price picture, levels, and patterns and incorporating moving average and RSI into the analysis. Interest today starts from the support hold we are watching from 6885. This lines up with the bottom of the overall range. We can also see regular divergence forming with price holding at this support point. This could set off a new rally that could get back up to test 7000. If this level of support breaks and price closes below, this could break the range and set off a new overall downtrend. Are stocks a bit oversold at this point? Keep in mind we have US employment data due out this Friday. Have a great day and good trading.
EIGHTCAP:ASX200Long
by Eightcap
Week 1OCT2023 AUS200 Sell Setup # Trading Checklist AUS200 - **Rule** Is there any setup? - NO Setup NO Trade - SBR - RBS - QML - QMTR - BLINDSPOT - Use a trend-following setup. - YES - I love Risky way - Analyze from a big time frame. Define the Entry Zone - 30M 4H - 15M, 1H - Is there any News (interest rate Decision) - Yes - No - Set both buy and sell zones on a higher timeframe such as 4H or Day for TP and Entry Area. - YES - No - Is it in Premium Zone? - FIBO 61.8 - FIBO 78.6 - FIBO 50 - Check Is in sideway? - YES Break Sideway - NO - Check Zone within Zone? - YES - NO - Is there Fake out zone - YES - No - The Risk-Reward (RR) ratio should be around 4 or more than 2. If there is an 80% chance of reaching the target, take it. - 1:3 - 1 :4-5 - More - Confirmation using Choch. - Risk Entry - Confirmation Entry
PEPPERSTONE:AUS200Short
by Pcockboxes