AUS200 trade ideas
AUS200 buya retest of broken fib level is coming before a further push to the upside. Lets trade with the banks
Go Long ASX200 to 5726-5800. $XJOIf we can break the 50MA (yellow line) in the next few days, the next level of resistance is the red zone just below 5800.
However, I am no longer bullish if we fail to break 50MA and go below the 20MA (green line) or regression channel.
MA - Moving average.
ASX200 Basing - Are We Getting Ready for a Breakout?- ASX 200 has not recovered as fast as the US Market but enjoyed strong gains today +1.6%.
- Technically we have retraced to the 32% Fib level from our 52w Highs. We want to see a breakout from this level and a push past the 50% level.
- From a Health perspective Australia has flattened the Covid19 curve but some of the biggest contributors to the ASX 200 such as the banks have reported bad losses this week. Overall we are bullish on this market over the longer term and want to see this basing pattern play out.
S&P ASX 200 Index technical analysisThe Index had a head start in yesterday's session after bouncing off at 5200 and breaching 5244 and 5288 resistance before closing the session at 5318. These are my estimates to the upside if it holds above 5244.
Target 1 - 5365
Target 2 - 5484
Target 3 - 5530
AUS200 - Strong reboundASX200 - Intraday - We look to Buy at 5325 (stop at 5270)
An Evening Star formation has been posted at the high. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. A possible AB=CD formation looks to target 5470. We look for a temporary move higher. Further upside is expected and we look to set longs in early trade.
Our profit targets will be 5475 and 5560
Resistance: 5370 / 5475 / 5567
Support: 5325 / 5275 / 5200
Possible reversalFirst off I want to mention how much this chart resembled the GFC after it crashed. There was a hopeful rebounce and then another rejection. There also seems to be a double top forming which signals a reversal and the MACD signals strength is slowly diminishing. There could be a possibility of even a triple top before reversing, but I am doubtful it will break current resistance as there was a doji on the weekly chart from the week prior and a potential 'death cross forming' in the weekly chart. I characterize a death cross when the orange goes over the blue line.
*This is in no way trading advice, simply an opinion
XJO 2020-May-04XJO is running support on a very shallow growth trend on the short term trend. Patience is the play here; with the downside risk being higher than the reward of a rally back to the resistance. Wait for a breakout.
The downtrend pattern is forming?This week will be the super slides downturn? Seen a lots of indices are getting downward momentum.
Will AUS200 Bounce Back?
OANDA:AU200AUD CURRENCYCOM:US500 CURRENCYCOM:US100
As you can see the indexes mimicking each other, AUS200 index was higher before the Covid-19 Bear market, but strugles to recover as fast as de US500 and US100 indexes. Will it grow faster on the upcoming weeks?
ASX - Downward Pressure Resumes - Look Out BelowDue to a decisive break out of the channel it can be assumed that the wave II correction is over and we should expect wave III to commence.
It appears that the ending diagonal in wave II ended on the 17th of April.
A break below the start of wave i or 5070 should confirm this.
A stop should be placed above 5599.
ASX200 Daily fails twice to clear 38.2% Fib Retracement.ASX200 Daily fails twice to clear 38.2% Fib Retracement.
Also, only completed 1 of three parts of 1-2-3 trend reversal requirement. Time will tell if the 2 and 3 will be completed.
AXS200 possible set up.Failed to make a HH here so far and also a bearish daily candle here, wait for a new HL to form before considering entry. Macd losing momentum as well.
Looks Bearish to meI am new to this but today it broke through all the support. I could be wrong but trace back to 5074.1 level seems very likely at this stage. If it break through 5074.1 level, it might find a new low. Finger crossed.
Waiting to enter SHORT at around 5630if it is going this way, below 4000 is minium --- sounds scary, and it is with HIGH risk!
AU200 is a bearish movement coming? by ThinkingAntsOkUse this as a guide for developing your view of the situation:
Main items we can see on the 4HS chart
a) The price made a pullback on the broken weekly Chanel
b) The Pull-back structure is broken
c) Currently, the price is on a flag pattern
d) We expect a bearish movement towards the next Support zone if the price breaks with a clear candlestick the Flag Pattern
XJO and the BOTH SITES.As we can see, we don't have a really clear entry yet, but anyway we will wait for it! if this wedge decides to break for downside we will wait the retest in the demand zone to make the best entry, the same in the topside so be focused and put some alarms in the both possibilities
