ASX200 - Long term distribution here on the weekly as price trades above and below the Kijun sen.
Aussie Broadband in consolidation. Notice the weekly price action is in distribution around the point of control. It is holding for now. Will watch this develop and see when the breakout comes. Momentum is showing weakness however it's important to wait for the breakout and reassess. Leave it up to alerts for now.
Waiting for a green monthly close and a weekly breakout. will be back to add in the bars in time. Will see how it goes.
No clear direction for FMG for now, give it time to develop and come back to add the bars. Waiting for a break either way. there is upside momentum on the daily but we are still below the zero line and the weekly stoch is not crossed up. Hurry up and wait as they say. Giving consideration to exchange rates and Iron ore price.
Telstra showing weakness here, waiting on a price break below support. will come back after some time to add bars to see how this goes.
4hr continuation here on New Hope Corp. Valid swing entry/scale in. All ASX coal miners showing strength as energy supply shortens up in Europe and Asia. Interesting to see this is showing a divvy soon. Will see how it ends up.
Yancoal looking parabolic. strong volume profile supporting price action. waiting to see whether this continuation sticks. Monthly MACD has been coiling for a very long time. YAL is a massive producer of Aussie coal.
Righto so what I want to follow here is the action on the 1d chart, atm I am waiting to see what happens. I will be back to add the bars in after some time. no entry here yet, I am waiting for - MACD cross down, price break down and the kijun to turn down. XJO is counter trend today on the 4hr so I need to keep in mind. Consider sentiment and use discretion as it develops
Months of consolidation on the 1d/4hr xjo breaking Apr 6. missed opportunity to go long and add. There was a lot of bearish talk recently but here you go the xjo is moving up for now. see if the weekly chart follows. interesting to note the US E-Mini broke roughly 5 days earlier on the daily. Stalking a few setups within the index so we'll see what happens