AU200 SHORT (SELL)AU200 SHORT (SELL) once markets open on Monday. Chart explains itself. SL and TP's correctly calculated. Good Luck
AUS200 trade ideas
AU200 NEUTRAL - NO TRADEThe AU200 has reached a resistance area on the D1 and we could be expected a reversal soon (correction) Once the major bullish trend-line (resistance area) has been reached I will be looking at a possible BUY.
Another Country Breaking Out - Australia!When we look around the world, it often feels like the sky is falling if you tune into financial media. Well here, we look at the charts and see if we can find trends. We have a new breakout in an important commodity economy. Australia! Let’s have a look at the chart.
So here we have Australia going nowhere since June. Tons of failed breakouts with the wicks not being able to stay above 6130. We finally get the breakout with follow through as well. Not only do we have the breakout in price, we also have a breakout in RSI terms. This is bullish. Right now we are looking for stuff to buy. We have made that clear. Now we can add Australia to the list of markets that are breaking out.
Happy Trading!
XJO breakout imminentS&P 200 (XJO) is currently pulling back at resistance, but has formed a great looking Darvas box. If it can break above 6200 and hold support, we are going to around 6650.
A fib extension still puts the next move to 6300. I expect a pull back to test 6200 support, then resumption upward. After that the next extension is just above the ATH.
This is also forming the start of an Elliot wave after the counter trend move (consolidation).
AUS200 LevelImportant level on AUS200.
Wait for the breakout to the upside to consider longs or to a bearish flag to consider shorts.
Where does all this money go?You can keep hitting and kicking peeps down with unlimited dollars
but you'll only be rewarded with higher everything.
Australia 200 - just an ideaAustralian index seems to be in a very stable trading channel (since May) - but it looks like it might break out. It has a lot of upside potential - with the top of the 12 years trend channel quite high above and also the long term resistance (double ATH) being around 6950.
Plus Australia has dealt with the covid-19 pretty decently and has no spikes in cases and lockdowns on the way. (unlike Europe). I think this fact also plays its role in the recent uptrend.
So if it breaks above I consider this a feasible long term investment.
Small Rejection of Major LevelWe discussed this market yesterday and the major resistance level price had moved higher into.
The rejection of the level we were expecting has now come and price formed a solid bearish rejection candlestick.
It is rare that price will move directly into a major support or resistance level and break straight through it without some sort of rejection first.
Now we have seen that rejection we can look to see if this level will break.
If we can get a break higher we can begin hunting long breakout trades that would offer potentially higher reward trades.
XJO finally bullish or dead cat 🐈 bounce?🚨🚨For the first time in 6month, XJO aka ASX200 has spent 3 days above 200MA. Bulls should be dancing as this unprecedented at least for the last 6 months.
I will try to be brief with today’s TA. Lets analyse bull cases:
- PSAR daily and weekly pointing to the bulls court
- price above 50 and 200MA
- LSMA and QLSMA both pointing up and price above their lines
- price above historic resistance 5960
I think this is bullish at least for now.
Bears case:
- price still not able to break the 6200 resistance
I think, the market is quite interesting atm and with US elections coming soon, we need to be careful with every position we take and keep out SL tight.
I will keep you posted as this market may give juicy profit when your enter at the right time.
Stay safe and dont forget to smash the likes.
XTF
Major Resistance Now in PlayWe discussed this market yesterday and how price was looking to move into the major daily chart resistance.
Price has now made this move and is looking to attempt a breakout.
This is a major level for this market and it could present multiple trading opportunities. We could expect at least some resistance here, however a breakout higher would offer higher probability trades.
A breakout higher would expose more free space for price action to move into and a potentially more explosive move.
AUS200 retest 6200 and go back 6000 it may go up 6400 or it may go down back to the support zone 6000, the sell order has more profit and safer than the buy order in this case,
ASX200 Short term Setup.ASX200 - Short term -
We look to Sell at 6115 (stop at 6141)
MACD is on a edge of a sell signal.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. 6120 continues to hold back the bears.
Bespoke resistance is located at 6120.
A higher correction is expected.
We expect prices to stall close to our bespoke level (6120).
Our profit targets will be 6032 and 6004
Resistance: 6100 / 6120 / 6140
Support: 6070 / 6030 / 5990
Can Price Form Fresh Highs?This market is now making a strong move higher into the important daily resistance level.
Whilst we could expect to see some resistance at this level, if price breaks it, then it could open the door to a much larger move higher.
This level is pretty significant because if it breaks, then it would see price move into a new six monthly high. This level is also almost bang on the 61% Fibonacci retracement point from when price started selling off at the start of the year.
This presents as a major watch in the coming sessions.
AU200AUD LONG TRADE SETUP USING MULTITIMEFRAME ANALYSISAll information provided in the video. Thank you
Aus200 update for long I previously posted Aus200 for a short position am currently changing my whole analysis with this index my SL got hit last week this coming week I'll be looking for long positions after the buyers stepped in.. Come join in if you see it too
THE AUSSIES: WAKE UP GET READY!This is a 12H setup - like the weather - showing the case for a potential reversal south.
Features:
1 - zone of congestion in what looks like a PRZ
2 - an alternate ABCD pattern.
3 - price just below 12H ATR line.
Contrary to the received wisdom ABCD patterns do not have to be a precise pattern with a 61.8 retracement of initial limb. It can be a 78.6. In fact there are a whole range of ABCD patterns. The important issue from my observations is that AB is roughly equal to CD.
As prices on most tradingview charts are mid-point we can't expect high accuracy.
As usual this setup does NOT mean that price has to reverse. There is about a 51% chance of reversal south in my estimation. That leaves 49% chance for continued movement north. Keep that in mind and remember that you can't win without risking a loss. Make it an affordable one.
Disclaimers : This is not advice or encouragement to trade securities. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected. 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.
AU200 index at Fibonacci levelAU200 index made a big fat pullback to 61.8% and might begin to form a AB=CD pattern.
$XJO Daily (Long & Short strategies)Which way will XJO go???
I feel many investors are on the edge of their seats, whether cash or holding, there's this underlying sense of unease as the markets could swing either way at any moment...
So ask yourself, and answer in the comments below if you like:
a) Will we continue to melt-up and diverge from the economy?
b) Will markets crash back down and catch up with the economy?
c) Will we track sideways, become comfortable not knowing which way its going to swing, then bamm?
e) Are we just waiting for a catalyst, Say Trump catching C-19, or the elections...?
Either way, I have charted a Long & a Short play each with their own patterns, confirmations, supports & resistance.
I would very much like feedback & suggestions as i'm new to charting and keen to learn
Cheers,
