AUS200 Symmetric triangleAUS200 index looking at triangle build-up and could be signs of huge pressure building on the bullish side
AU200AUD trade ideas
AU.XJO Continuation Wedge - Bullish possible outcomeAU.XJO Continuation Wedge - Bullish possible outcome
Asx 200 Short positionI believe ASX 200 could be go down upto 4K in coming weeks.
I have short the position at @5960 and will book my profit @ 5100 - 5300
Share your ideas
Thanks
ASX:XJO still in the uptrend This chart should be self explanatory but as a chartist i cant do without a comment.
XJO is still in the uptrend on the weekly chart. Last week and early this week it has come to retest the uptrend line which acted as support in conjunction with the 0.5fib and pushed the price up again.
Weekly psar is still showing uptrend and lsma still in uptrend on a weekly TF.
One concern so far is the 200WMA aligned with the historic resistance around 5969$. And daily psar is not positive yet.
I will keep you posted if anything changes as I always keep an eye on these markets.
Keep smashing the likes and stay tuned to my “Stock of the week” new episode this Sunday.
Stay safe and nice weekend.
XJO aka ASX still in the uptrendThis chart should be self explanatory but as a chartist i cant do without a comment.
XJO is still in the uptrend on the weekly chart. Last week and early this week it has come to retest the uptrend line which acted as support in conjunction with the 0.5fib and pushed the price up again.
Weekly psar is still showing uptrend and lsma still in uptrend on a weekly TF.
One concern so far is the 200WMA aligned with the historic resistance around 5969$. And daily psar is not positive yet.
I will keep you posted if anything changes as I always keep an eye on these markets.
Keep smashing the likes and stay tuned to my “Stock of the week” new episode this Sunday.
Stay safe and nice weekend.
Ignore this, pretty lines6750 +- 50 Aug 1st calls
Noticed eerily strong hits with a 40 year fib from jan 1980.
Fib comparison between 1980-2020 and Feb 2020 crash.
Macro vertical trends, cant be bothered doing horizontal analysis right now (they're a pain), so can't get a definite date.
6771 by early august.
ASX200 breakout build-upASX200 pricing within a range.
This is generally a really good indication of a potential strong build-up for a breakout.
Watch out for any fake moves and find opportunities to follow the trend.
19/06/2020Today market moved as expected, we have recently changed environment by making lower lows compared to recent moves. A W formation was created on the 4 hourly between the 12th and the 16th. I really want to see the market close on either the 0.382 FIB or preferably the 0.5 FIB which would provide strong confluence and support at this level. I will watch closely around the 0.382 to see if there is a shift in market sentiment and the rally will continue to make higher lows and higher highs. The wick from the first half of today I expect to get filled in the next day or two. 3855 would be ideal for me to feel safe to hold long term from here. DYOR, all IMO.
6497 - A possibility if the 0.382 FIB is the only once reached.
AU200AUD 2nd Elliot Wave Symmetrical Triangle PatternMy first target has been hit and its looking like another symmetrical triangle pattern may be forming. Price remains bullish over the 20dma and 50dma. This is a good place for consolidation under the 200dma to store enough energy to break through. There is a gap that isn't shown on this chart in the general target zone to be filled as well.
Next entry for stocksImpulse, correction, hope to see it come back to the 0.5 FIB. Also close the neckline of the W formation. IMO, DYOR.
R.I.P Australian Economy. - ASX forming evening star on daily.Can the governments prevent the asx from falling? that is the real question.
Bears are in control.
Crash 2.0 incoming, unless they fire up the money printers.
REFER TO WALL STREET CHEAT SHEET
XJO - Updated EW count XJO is in 5th wave of down cycle. It has completed WXY corrective up cycle from major bottom in 2 hr time frame. The drop from last swing high in 30 min time frame is impulse and within its 5th wave. In futures of XJO it dropped in A impulse wave down, which is not still confirmed in XJO Index. Wait for little more price action, which decides the next correction. In futures it made new low and getting divergence in indicator too. Will see how it moves in Index now.
AUS200 Long Baby!Area of confluence on 4hr D and W tf. Look for the setup at 9-12 utc+10 tmrw.15m chart
AUS200 buy limit pendingThe image explains it. AUS economy making a strong recovery, RBA maintaining economic conditions and will be responsive going forward. Not currently seeing AUD strength as an issue.
AUS200 retraceafter a long awaited breakdown in bullish pressure, expect more downside as negative sentiment clouds the market
