ASX200 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
The hourly chart...
After breaking the weekly structure downward, AUD 200 has been in upward correction phase for a couple days while forming bearish Flag on 4hr TF. We can see downtrend continuation once it has retested the previous demand zone now turned supply zone as well as completing its 50% correction which also lies in that area. I will be looking for a Short Entry near the...
AU200 has just completed a 5 count reversal on the daily.
Market has just taken out all new stops in June/July.
This is an indication to go Long
First target would be in the top third of the box
Thank you
In my previous analysis on AUD 200, we met our First Take Profit levels
Our first TP level was coinciding with key Fib levels and as expected, we are finding selling pressure there.
So I decided to go down to 4 hours charts, and to see if there is any cue there to see the expected direction.
Following observation,
1. I drew a trend line on the RSI and a...
In this video update, we take a look at the AUD200 index and how the price is benefitting off of AUD weakness.
Price smashed through recent support levels and looks to continue on its path higher, however, we have a significant
resistance level above which may prove tricky for the price to break. If we do see further upside, the market will likely
head towards...
ASX is approaching our first support level at 5390 (61.8% fibonacci extension , horizontal swing low support) where a strong bounce might occur above this level pushing price up to our major resistance at 5961 (50% fibonacci retracement , Horizontal overlap resistance).
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.
