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Australia 200 Index

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AUS200 trade ideas

Just a pullback? Or something moreQuick look at the ASX200 during the first red day in the last seven trading days... Price now seems to be at an area of importance on the 1hr which formed a small range the last time it was here, if it breaks 5945 easily then it could go into free fall. There is also a massive Morning Doji Star reversal pattern on the Daily and the problems in the economy and world in general are not improving as much as the market would suggest. Although i've taken profit on a short today and will be looking for another entry depending how today closes. I got burnt badly with this sort of trade the other week, but i'll follow what my technicals tell me as that's the only way to improve.
ASX:XJOShort
by BeerCanCapital
How Much further can the ASX200 GO UP?We are priced in the area where I felt the ASX200 would hit. The daily chart showing RSI & StochRSI overbought. Yesterday and today the ASX200 touched the top of the Linear Regression. This is very crucial as the direction is down, it needs to close above it for a few days to have any chance of turning up longer term. But we are hitting resistance every move up it is making. It will be massive if that happens. If we look at the weekly chart 6325 is the mid-line, a weekly close above that and the Covid-19 drop will be over. Please note: The Treasurer has announce we are in recession, but technically that would be at the end of the month. Generally the Markets Bottom when recession is confirmed. But the question remains are we heading far worse?
ASX:XJOShort
by GlobalTrader_
ASX200 Trend ContinuationLooking for a entry approx 5960-6000 Strong Trend, Looking to for a continuation. Daily RSI Oversold with 200MA just around the corner with a hidden divergence on RSI between ATH and current price level 4H RSi currently at 50% but would like to reach below 30% which will give a hidden divergence between previous price points. Major support level with a strong channel MA200 as channel's last line of defence. Needs to break internal trendline first. Target 6250
FX:AUS200Long
by trungle83
The #steepening continuesSome thoughts on the S&P/ASX200 (XJO) for any Aussies out there. Looking at the daily chart. 1) Price and RSI trends seem to be intact currently (would take a big fall to break today). 2) MACD working on but has not confirmed a bearish divergence 3) Willy overbought 4) We are about 5% away from the 200sma. I recon this will act like a magnet to pull the XJO higher, but then once we reach it, I recon we'll see some resistance. Could that then turn to support? Only time will tell.
ASX:XJO
by ncorreia
S&P ASX 200 Index price chart analysisS&P ASX 200 Index closed Friday's session at 5755.70 -95.4 down 1.63%. The Index was dragged down by the Major banks following a three day surged, which saw the big four banks share prices rose more than 20%. The Index broke through a significant price point around 5865.00 at the end of last week's session but failed to hold and retreated, closing the trading week at 5755.70. 5865.00 is the crucial resistance point to watch in the future sessions; it is more likely to correlate to the break-out point in February 2019. The primary support levels are estimated at 5735.00, 5660.00, 5534.00
ASX:XJO
by Rotuma
AUS200 (1d) - probability south. No loss no gain. This is a risky position, obviously. I do not know if it will fall or head north. My estimate is for the south. Heavy losses may be involved. Disclaimers : This is not advice or encouragement to trade securities. 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.
FX:AUS200Short
by Captain_Walker
ASX200 fails to penetrate - Time to test March lows?After the March lows, price has been retracing as lots of new investors and the government pump ridiculous amounts of money into the markets. The May monthly candle closed today and failed to penetrate the 50% Fibs and the now resistance of the Ascending Channel that has been apparent for the better part of 30 years. What does this exactly mean....? The long wick to the downside suggests the bears didn't quite think the March prices were low enough while the smaller wick to the upside was the bulls last attempt at taking back the 50% fibs level in order to head back up to test the recent ath. Due to the failure, I think that we head back down to retest the 5500 area, where we could end up making a HL if it holds above 5550. However, if the drop in the market is enough to take out the weak hands of these new investors causing them to panic sell. I think this will send us even lower, additionally, if the government decides to stop feeding the markets this could cause another domino effect similar to the drop in March where over leveraged newbies who may not understand the market are forced to sell and end up driving price down even further to create new lows... Where price will remain and begin to build the base of a slow economic recovery. Considering all of this is my trade: Enter Short: 5700 Stop Loss: 5834 TP #1: 5462 TP #2: 5161 TP #3: 4396
ASX:XJOShort
by BeerCanCapital
1
Elliott Wave View: Rally in ASX 200 (XJO) Should ExtendAfter forming the low on 3.23.2020 low, ASX 200 (XJO) starts a new leg higher. Short term Elliott Wave chart below suggests that the rally from 3.23.2020 low is unfolding as a 5 waves impulsive Elliott Wave structure. Up from 3.23.2020 low, wave ((1)) ended at 5563.6 and pullback in wave ((2)) ended at 5100.7. Index then resumes higher in wave ((3)) and shows a nest. Up from wave ((2)) low at 5100.7, wave (1) ended at 5549.1 and dips to 5169.6 ended wave (2). Wave (3) is currently in progress as another 5 waves of lesser degree. Up from wave (2) low at 5169.6, wave 1 ended at 5489.5 and dips to 5303.3 ended wave 2. Index then resumes higher in wave 3 towards 5922. Expect wave 4 pullback to find support in 3, 7, or 11 swing before the next leg higher. As far as pivot at 5300.3 low stays intact, expect the Index to extend higher. Potential minimum target for the Index is 100% – 123.6% Fibonacci extension from 3.23.2020 low towards 6268 – 6545.
ASX:XJO
by Elliottwave-Forecast