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AU200AUD trade ideas

XJO or SP200 about to decide where to go🚨🥵🚨AS i mentioned last time that XJO was fighting the 200MA that was aligned with the 0.618 golden fib, apparently it lost the battle and decided to consolidate below it. But does t look like it is going to make one major decision which will be written down in history? lets dig deep and analyze. XJO after failing to conquer the 200MA has been shy and it even failed its 50MA and now it is fighting to stay close to the 6k level. However, considering the massive selloffs on Wall Street, I think it is about to make one major move. Looking at that chart it is almost writing a curve as if it want to fall below towards the 5700 which is a strong support. I think we may see the price testing that level in coming days and if that level fail, my friends, I see XJO going deep down. However, not all hope is lost, at the moment it looks like it is in massive consolidation zone which, if it holds , can be considered as a huge bull flag. Most short term indicators like PSAR, LSMA, QLSMA look bearish so far. As I said last time, this may not be the best time to buy, better wait for the market direction then enter the market. But for those who ride the waves, they may find it interesting to but the support and sell the resistance. I will keep you posted of any change in this market. Stay safe. Dont forget to smack the likes. XTF
ASX:XJO
by xtf_ze_trader
1
The ASX200 is standing on the edge and looking over the cliffThe ASX200 is having a rough day as sellers beat up the bulls. Price has broken the uptrend but is holding above key support for now. A break down below 5850 and we may have a small problem but it will bring some volatility and good shorting opportunities. ------------------------------------------------------------- WE TRADE WHAT WE TEACH Check out our recent Live Streams from our profile page!! ------------------------------------------------------------- ** If you enjoy our free content, please support and follow our profile, by hitting the Follow button to get further high quality ideas. ** ** If you are following our ideas any comments and likes are most welcome and will be greatly appreciated ** ** With quality alerts and correct Risk Management, you can learn consistency and grow your account ** ** With quality portfolio management and defined risk levels to help your account grow and achieve steady profit targets while increasing your trading edge. **
ASX:XJO
by TradeTheStructure
Does the bounce today on the ASX mean the bulls are backThe ASX was hit hard yesterday only for the bulls to come back today and ramp prices back up....it is just like the selloff yesterday was a mistake...or the bulls took the day off. On the flip side, is the spike down yesterday a sign of some volatility to come. Price is now at an important level where we may see either a run back to 6200 or a lower high hold. Both the bulls and bears have a good argument....bears, the economy is struggling, inflation easing, unemployment rate spiked etc....for the bulls...ahh....momentum. As long as the US continue to drive to new highs, expect the ASX to hold in the new range....but if the cracks start to appear in the US, a break of 5886 will be on the cards. ------------------------------------------------------------- WE TRADE WHAT WE TEACH Check out our recent Live Streams from our profile page!! ------------------------------------------------------------- ** If you enjoy our free content, please support and follow our profile, by hitting the Follow button to get further high quality ideas. ** ** If you are following our ideas any comments and likes are most welcome and will be greatly appreciated ** ** With quality alerts and correct Risk Management, you can learn consistency and grow your account ** ** With quality portfolio management and defined risk levels to help your account grow and achieve steady profit targets while increasing your trading edge. **
ASX:XJO
by TradeTheStructure
XJO still fighting the 200MAThe Australia stock market is still fighting to rip up the 200MA which so far has been a challenge. I expect the market to zoom up very quickly when this 200MA is breached. To me it is now or never for this market to prove its strength. we are in the apex of what looks to be end of an ascending triangle. Keep an eye on this chart as we see new ATH on the Wall Street. This charts shows all the info I will be brief with my post today and as I said last time it is not a good time to buy until the market shows stamina to stay above 200MA. Have profitable trades and dont forget to gong the likes.
ASX:XJO
by xtf_ze_trader