Ravi2409

Ravi2409

Tech Is strong at the moment across most indices, we have a bullish flag formation here with nice consolidation above the $9.40 resistance area, building strength for a move up to all time high of $10.35 and then perhaps higher.

Ravi2409 Updated 

Xero is pretty much the closest thing Australia has to "big tech" and is looking pretty good to retest all time highs of $90. We are comfortably sitting above 20 and 50 MA's on all timeframes and we have a nice bull flag forming at the $80 resistance level. A clear break above the resistance will solidify a clear buy signal for me with a target of $90 and stop loss at $78.

Ravi2409

Potential opportunity to short if it breaks through support. My targets - take profit at 2.10 final target at 1.80

Ravi2409 Updated 

Nearing the end of the pattern, watching carefully to see which way it breaks... need to see a sustained break in either direction before entering a trade

Ravi2409 Updated 

I haven't seen anyone else post it so thought I'd give it a go, the rising wedge pattern is a common formation in bear markets, the closer price moves within the formation to the apex point, the more likely a breakdown will occur and we are close this point as seen in the chart... We have been respecting this pattern really since the start of the rally which...

Ravi2409

So obviously a huge rally today, call it bullish all you like but in my opinion it was the opposite, in fact what we have been seeing for the last 2 weeks has perhaps been the bears gaining strength and the rally running on empty, sucking in as many bulls as possible before the next leg down, this is backed up by RSI and MACD divergence on the 60 & 120 minute TFs...