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.
ASX200 trade ideas
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
GET READY! Aussies may have a problem. Price is struggling below ATR line.
Probability south is 55% (45% for the north). How far south if it moves, is another matter.
Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. 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.
