S&P ASX 200 short term viewXJO - The short term uptrend is fading away and could head back to the red zone if it falls below the price channel. Critical support is at around 4870.00
AUS200 trade ideas
XJO indecision ....A newbie thought on which directions XJO would take next week ...
1. retraces to 4992.2 to level with left shoulder
2. rise to complete (B) wave to 6165.3 (Fib 0.618 level) distance equals top shoulder to neckline & probably just under 55 days SMA level
3. going down to complete (C) wave to probably Fib 1.618 level of 2930
any pro tips welcomed :) & Stay Safe !
ASX 200 daily TrackerTrack this daily when the Trendline breaks near SHORT around 5500-5600 or move Super to Debt
Possible bear flag formation on XJOSo We've seen a remarkable recovery in the Australia Equity market. Many are calling the bottom, while some are suggesting that this is a dead cat bounce. I've highlighted in in my 4H chart the possible bear flag formation. Only time will tell.
XJO ASX200 Update - Bear Flag Pattern We have gone up 20%+ since 23 March, this is likely to be an oversold bounce or "dead cat bounce" in technical terms.
Since 90% of Shops are still close, Corona Virus is still in the headlines around the world and death rates are not showing signs of slowing down.
Therefore, it is very unlike that the bottom is in and we are exiting this bear market in the short term.
By looking at the short term chart, we can see a BEAR FLAG pattern forming for ASX200.
I am expecting lower levels and we drop toward the gap. (4700-4800)
AUSSIES IN TROUBLE - THEY DON'T KNOW IT YET 😨Hardly anyone looks at the Australian 200. It is one of the best indices to short.
The Aussies strangely went north at open of their market last night - when the rest of the world's indices were burning down. There is usually a significant lag between the AUS200 and the other indices, which I decided to exploit.
This morning 08:30AM 2020-04-01 it's struggling to stay afloat. I suspect it will collapse and follow other indices (south).
XJO - 50 EMA Strong Resistance Approaching!This rally has seen us nearly technically enter a bull market. The computers are out of control. I expect the 50 EMA to act as major resistance. High probability & a good time to sell some positions in longer term portfolios.
ASX 200 index (daily) testing resistance at the 20-day MAASX 200 index (daily) testing resistance at the 20-day MA
AUS200 where toThe AUS200 (4h chart) is trapped between the support and the resistance levels as shown on my graph, any breakout from within those levels could be a big move either way.
S&P/ASX 200 Possible Bullish MovementHigher timeframe charts show the momentum supporting for the uptrend and overall market seems for now bullish. Stock markets doing well around globally at the starting day of the week. This might be something to do with cheaper fiat currencies around the globe making it easier to spend cash on buying stocks.
AU200AUD looking for more demand price became expensive so price sold off (above) and perfectly timed l might add., if lower prices builds PA around area l'll look to buy. did my top down analysis to find fresh demand where buyers could be waiting
ASX, H4 - potential inverted head and shoulders patternOn the H4 chart of the Australian stock exchange index ASX we may observe a potential inverted head and shoulders pattern. It seems that her right arm may have occur on the level at which the left arm appeared. It is therefore possible a strong level of support - 4811 points.
If the horizontal neckline is broken (5355 points) then a path may open for further increases in the area of 6037 points. There may be another potential resistance level.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
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Do we continue the downtrend this week? AUS200Do we continue the bear market this week? Or do we rebound?
I can see us dropping to new lows however in this current market anything is possible. My short is currently in a nice profit.. Using a trailing stop loss strategy with this one.
We will have to see what the Australian Government can deliver on a stimulus front, money printing is only delaying the inevitable at this current moment.. The $2Trillion stimulus package will have a short-term affect as the cases of COVID-19 continue to go parabolic in the US..
Let me know your thoughts below!
Remember to keep your analysis simple! I use a 14EMA and recent S/R zones to base my trading on, I then wait for confirmation candles in either direction to make my moves.. Building my patience has so far been my most challenging factor in trading..
Keep on the alert!
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MNLZ
ASX 200 Monthly OutlookPretty likely to see this happening given the circumstances globally. Gov stimulus won't do much good as this isn't your 'typical' recession. It's not a demand but a supply problem, globally!. What do you expect when whole country is in lock down for weeks? The true impact of this will be evident in 6 to 12 months time.
Daily Analysis on AU200 ( ASX ) by ThinkingAntsOkUse this as a guide to develop your view of the chart.
Main items we can see on the Daily Chart:
a) The main structure is an ascending channel
b) After the price reached the Weekly resistance zone, we saw a huge sell-off on the index.
c) Currently, the price is on a massive support zone
d) From there we expect a pullback to the broken ascending channel
e) From an Elliott Wave perspective, the movement we are expecting is a B wave (correction)
AUS200 Australian Index 8-hour level long trading plan!AUS200 Australian Index 8-hour level long trading plan!
Why the ASX200 is going lower (March 25, 2020)The COVID-19 pandemic has spurred on a catastrophic 39% decline over 5 weeks in the ASX200 .
Right now we're seeing the beginning of a bullish retracement as negative sentiments start to ease globally.
But with most market crashes historically, nothing ever falls in a straight line. There are always retracements in a down market, otherwise known as dead cat bounces.
This chart shows the ASX200 during the Global Financial Crisis ( GFC )
The full declines took an entire year and a half to play out
28 weeks in, the ASX200 had a 50% bullish retracement spanning 8 weeks.
Be careful (protect capital) - wait for a solidified foundation before going long - don't try to catch falling knives.
Don't believe the hype. ASX ShortWhy are people buying stocks today? Are they bored?
Walk around outside, it's a shitshow.
Sell this madness. TRADE ACTIVE
XJO - ASX200If you assume that the economic fallout with COVID-19 will be worse than the GFC, and this is where we are today - 24th March, 2020:
- infection rates in Australia and the U.S. are still spiralling;
- all restaurants, bars, cinemas and large public spaces are closed, as are our state borders
- our national borders are closed;
- despite self isolation being mandatory, some people are ignoring it;
- there are no advanced precautionary measures being implemented, as in Singapore (for example), where they diligently use temperature guns and tracing apps;
- our schools are still open in most states
The fallout from the above is yet to be felt or accurately estimated.
With the GFC, the ASX200 fell more than 50% - we are still a long way from that number now.
I hope and pray we get through this and come out the other side in good shape and in the shortest time possible.
When will the Bounce happen? ASX The market looks like in complete meltdown, but for the short term the market is due for a bounce.
38% drop from peak to trough.
Indicators: RSI, BFI, StochRSI overdone Though StochRSI still showing time for more downturn. So looking at a 2 week timeframe for that bounce which should be about 20%.
But the weekly moving averages lets us know we are at the beginning of the fall.
If we look at 2007-2009 there was an original drop of 26% that took about 5-6 months. This current drop about 1 month so 5-6 x quicker. Than we had another 46% drop that took 9-10 months.
Descending wedge with indicator divergenceDescending wedge on H4 with divergence across all indicators. Could be primed for a little bull run.
