Australia 200 ready for breakoutConsolidation finally looks complete and ready to breakout. Very bullish consolidating above the 20dma and just under the 200dma, should see considerable push up once 200dma is broken.
AUS200 trade ideas
Aus200 - Long - 4hr TFAscending triangle pattern coming to completion.
Bias is bullish.
Two ways to play it -
1) Buy now and hold, hoping it breaks out (best profit potential)
or:
2) Wait for breakout of triangle and then enter position.
Stop if price breaks the triangle to the downside.
ASX 200 Index is expected to test 6046.70 Tuesday's tradesASX 200 Index is expected to test 6046.70 Tuesday's trades following the rise of US major Indices in Monday's session.
Major support is at 5998.40 and resistance at 6046.70, 6077.60, 6094.60, and 6126.55
Back to the top...Entry: 6253.59
Maybe after breaking this level the market will come back to itˋs latest top...
ASX:XJO reclaiming the trend lineASX:XJO has had trouble in the last few days to keep the upward momentum(you can find more info in my last post about XJO). But in this simplified chart, it seems it is back to claim its original trend line.
you can see the price is back up the blue trend line. it has come back to retest it and to keep the bullish sentiment it has to stay above this line and soon take over the 0.618 golden fib and the 200 SMA( the red line).
Other bullish signals:
- price above 50MA
- velocity is positive
- the acceleration has turned positive
I will keep an eye on this chart and let you know where we stand. for the time being the trend is your friend.
Stay safe and have a profitable week. dont forget to smash the likes.
XTF
AU200AUD_ Opportunity On LowerLowstrend line support and low on RSI. short time trade confirmed by a long candle breaking high.
ASX forming a triangle ASX( XJO ) is forming a triangle, Need to watch the break!!
Disclaimer: Not an advice to buy or sell!!
S&P ASX 200 Index struggles to hold above 6046.70S&P ASX 200 Index struggles to hold above 6046.70
The Index broke through critical resistance at 6046.70 in yesterday's session and reached another crucial level at 6077.60 but retreated and closed the session just above 6046.70.
Today's opening trades, we saw the Index started the session above 6046.70 but drifted below this crucial level and down to 6028.50 at the time of writing.
The Index needs to hold above 6046.70 to continue to the upside. It could continue down to the next crucial point at 5998.40 if it fails to get back above 6046.70
ASX200 Swing long This is a short term swing long trade idea.
My technical opinion says that it'll be a choppy way back to 6120.
If it breaks and hold below 5900 this will go down much deeper.
All long positions around this level should be short keep.
ASX 200 (XJO) H2 support and resistance price chartThe Index could fall to around 5919.70 if it fails to hold above 5975.20. If it pulls through 5975.20, the next level is around 6065.00
#BearishBat #Australia 200 #Index #ShortWe have a bearish bat pattern near-completion on the 60 minute Australian 200 index.
Entry @pprox 6038.5
S.L. @pprox 6069.2
T.P. 1 @pprox 5984.4
T.P. 2 @pprox 5929.2
XJO aka ASX200 closing with a bearish signal 🚨👹👿🚨ASX200 closes the week below the uptrend line. Is this going to be the end of the bull market as we know it and be the the start of a long waited bear market? Lets dig deep and analyze.
XJO aka ASX200 has been struggling for the last few days to maintain the upward momentum. However, the chart shows a weak and tired bullish actions. But what are the indicators saying? Lets compare bulls and bears case.
Bulls:
Daily and weekly Momentum positives
Price above 50MA
Bears:
Price below 200MA
Price below historic resistance at 5960
Price below the uptrend line
QLSMA pointing down
Price below Golden fib
To me bears are back in action. In order to keep the bullish sentiment, bulls need to take back the lost uptrend line and push quickly towards the 0.618 fib. This will make the recent days price actions like a pennant and the upward move can lead to higher price towards the 7k.
I will keep an eye on this index for you so that you do not miss any single price action.
Stay safe and have a great weekend. Dont miss my stock of the week episode in Sunday. And keep smashing the likes.
AUS200 Accumulation At Key levelHello Trader! AUS200 index is in accumulation at 0.618% Fibonacci Level which is a Key level in Fibonacci retracement. If it breaks this pattern upside it will hit 0.786% Fibonacci Level and if it break it downside it will hit the next support area.
Don't Forget to Hit the like button if you find it helpful and informative and follow to catch every wave correctly and remember to share ideas.
XJO - Weekly closeI am hoping for a weekly close that the W formation neckline. Hopefully a drop tomorrow around -0.60%. Before the next couple of weeks we can see a push higher to previous highs. Will update as the environment changes, DYOR, all IMO.
ASX 200 Index support and resistance price chart analysisThe Index spends the end of last week and early this week attempting to break out at the major resistance level at 6065.00 but failed. In yesterday's session, we saw the Index fell to the critical support level at 5919.70 but managed to hold and closed the trading session above this significant point.
Today's opening trades, we saw the Index bounced off at 5919.70 and headed towards 5976.20 at the time of writing. The Index could continue to retest the major resistance at 6065.00 if it holds 5976.20
Major critical price points to watch are estimated at 6065.00 resistance and 5919.70 support.
