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S&P/ASX 200 Index Cash CFD (AUD)

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SPI200 trade ideas

Small Rejection of Major LevelWe discussed this market yesterday and the major resistance level price had moved higher into. The rejection of the level we were expecting has now come and price formed a solid bearish rejection candlestick. It is rare that price will move directly into a major support or resistance level and break straight through it without some sort of rejection first. Now we have seen that rejection we can look to see if this level will break. If we can get a break higher we can begin hunting long breakout trades that would offer potentially higher reward trades.
FX:AUS200Short
by TaherJalili
XJO finally bullish or dead cat 🐈 bounce?🚨🚨For the first time in 6month, XJO aka ASX200 has spent 3 days above 200MA. Bulls should be dancing as this unprecedented at least for the last 6 months. I will try to be brief with today’s TA. Lets analyse bull cases: - PSAR daily and weekly pointing to the bulls court - price above 50 and 200MA - LSMA and QLSMA both pointing up and price above their lines - price above historic resistance 5960 I think this is bullish at least for now. Bears case: - price still not able to break the 6200 resistance I think, the market is quite interesting atm and with US elections coming soon, we need to be careful with every position we take and keep out SL tight. I will keep you posted as this market may give juicy profit when your enter at the right time. Stay safe and dont forget to smash the likes. XTF
ASX:XJOLong
by xtf_ze_trader
Major Resistance Now in PlayWe discussed this market yesterday and how price was looking to move into the major daily chart resistance. Price has now made this move and is looking to attempt a breakout. This is a major level for this market and it could present multiple trading opportunities. We could expect at least some resistance here, however a breakout higher would offer higher probability trades. A breakout higher would expose more free space for price action to move into and a potentially more explosive move.
FX:AUS200Long
by TaherJalili
ASX200 Short term Setup.ASX200 - Short term - We look to Sell at 6115 (stop at 6141) MACD is on a edge of a sell signal. Early optimism is likely to lead to gains although extended attempts higher are expected to fail. Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. 6120 continues to hold back the bears. Bespoke resistance is located at 6120. A higher correction is expected. We expect prices to stall close to our bespoke level (6120). Our profit targets will be 6032 and 6004 Resistance: 6100 / 6120 / 6140 Support: 6070 / 6030 / 5990
OANDA:AU200AUDShort
by Signal_Centre1
Can Price Form Fresh Highs?This market is now making a strong move higher into the important daily resistance level. Whilst we could expect to see some resistance at this level, if price breaks it, then it could open the door to a much larger move higher. This level is pretty significant because if it breaks, then it would see price move into a new six monthly high. This level is also almost bang on the 61% Fibonacci retracement point from when price started selling off at the start of the year. This presents as a major watch in the coming sessions.
FX:AUS200Long
by TaherJalili
THE AUSSIES: WAKE UP GET READY!This is a 12H setup - like the weather - showing the case for a potential reversal south. Features: 1 - zone of congestion in what looks like a PRZ 2 - an alternate ABCD pattern. 3 - price just below 12H ATR line. Contrary to the received wisdom ABCD patterns do not have to be a precise pattern with a 61.8 retracement of initial limb. It can be a 78.6. In fact there are a whole range of ABCD patterns. The important issue from my observations is that AB is roughly equal to CD. As prices on most tradingview charts are mid-point we can't expect high accuracy. As usual this setup does NOT mean that price has to reverse. There is about a 51% chance of reversal south in my estimation. That leaves 49% chance for continued movement north. Keep that in mind and remember that you can't win without risking a loss. Make it an affordable one. Disclaimers : This is not advice or encouragement to trade securities. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected. 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.
FX:AUS200
by Captain_Walker
1
$XJO Daily (Long & Short strategies)Which way will XJO go??? I feel many investors are on the edge of their seats, whether cash or holding, there's this underlying sense of unease as the markets could swing either way at any moment... So ask yourself, and answer in the comments below if you like: a) Will we continue to melt-up and diverge from the economy? b) Will markets crash back down and catch up with the economy? c) Will we track sideways, become comfortable not knowing which way its going to swing, then bamm? e) Are we just waiting for a catalyst, Say Trump catching C-19, or the elections...? Either way, I have charted a Long & a Short play each with their own patterns, confirmations, supports & resistance. I would very much like feedback & suggestions as i'm new to charting and keen to learn Cheers,
ASX:XJO
by Spade_of_Aces
12
Choppy and SidewaysThis market has turned to chop in recent sessions. As the attached daily chart shows; the bulls and bears have no clue who is in control. Price makes a move higher, only to be crunched back lower in the next session. This is a market (and similar looking markets) I am avoiding until we get a clearer price action picture and when there is far less risk of being whipsawed out of any trade position. Until then, if we are looking to trade in these sorts of markets we run the very high risk of getting whipped out even if we pick the correct direction.
FX:AUS200
by TaherJalili
ASX200 weakness is squeezing on bulls but will we see a selloffThe ASX200 has rolled over since the last alert and holding lower highs. Price is at an important crossroads now as it holds above 5970 and below 6010. A break up through 6010 will get the bulls excited and lead to a push up to 6200. A hold below 5925 and move down through 5970 will trigger further selling and pressure lower as buyers are forced to close out. We favour the sell side so will be watching for an entry of further weakness but either way, the next few days will be important. ------------------------------------------------------------- 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:XJOShort
by TradeTheStructure
2
Australia 200 Index - Convergence sell trade using price actionTaking a look at the Australian 200 Index, we have seen a good potential short term trading opportunity for a Sell. As you can see from the 15 Minute chart we were watching to see what price did if it reached the 6000.0 level as this could potentially show a rejection here because its a psychological level in general. This alone is not going to present a high probability trading opportunity so we look to the price action and the structure of the movement getting there that can help give us a clue. Price was in an ascending channel on the way up which then turned into a more tighter ascending channel inside the larger one. This structure in price showed 3 hits on both of the channels topsides (marked with blue and pink arrows) creating two bearish 3 drive patterns in the process. What increases the probability here is that both of these patterns also converged and lined up with the 6000.0 level. Once we saw price start to show signs of weakness and move lower we just had to be patient and use the lower inner trend line of the smaller channel as our trigger for the short trade if this trend line gets broken to the downside which occurred nicely. For trade management we want to place a stop just above the 6000.0 level and the highest high and live with the result while taking profits along the way as price keeps going lower.
OANDA:AU200AUD
by DavidVillagra