The Australian dollar rallied above 0.72 and was immediately rejected. But it still holds the above the daily trendline. Potentially this rally can be extended to 0.73. Buyers have to protect their positions with tight stops. Commercials (based on COT) keep adding to their short positions, the cycle is turning to the downside. That makes me believe a selloff is...
If we see a risk on sentiment reflected in the Australian stock market today we could see the AUS200 push to new quarterly highs. This setup provides a risk/reward of 2, with a generous stop size.
The monthly is looking interesting to me here. -Broken out of a possible demand zone -Clearly broken downtrend on the RSI and stoch 1M and starting to look positive for a swing I think its logical that AUD JPY has a attempt to go to 80 cents here at least. This is not a call to say buy now it will go up with a instant 10% increase lol.. It can pump but looks...
Hello Trader! AUS200 index is in accumulation at 0.618% Fibonacci Level which is a Key level in Fibonacci retracement. If it breaks this pattern upside it will hit 0.786% Fibonacci Level and if it break it downside it will hit the next support area. Don't Forget to Hit the like button if you find it helpful and informative and follow to catch every wave correctly...
Reversal can still happen from this resistance !!! Place your Stop Loss just slightly above this resitance....
NenStar Pattern Formed in AUS200 TP 1 -- 5900.13 TP 2 -- 5918.03 SL -- 6199.72
As we recall the first breakout lower from stock market tops just started from Australia. AUS200 now alongside DJIA is the first one to nearly break rising wedge resistance and lead orchestrated reversal lower.
If price closes below the blue line we enter sell
Area of confluence on 4hr D and W tf. Look for the setup at 9-12 utc+10 tmrw.15m chart
AU200 Evening Star (Bearish Reversal) 13:25:59 (UTC) Fri May 29, 2020
No loss no gain. This is a risky position, obviously. I do not know if it will fall or head north. My estimate is for the south. Heavy losses may be involved. Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied or implied. Heavy losses can be expected. Any previous advantageous performance shown...
AUS200 Short - Stop Loss Moved to 2R @ Last Swing High
Technical Analysis - Using peak and trough progression, Wyckoff Method and chart pattern analysis
Short AUS200 Re-distribution Wyckoff - Intraday 15 min
Price is struggling below ATR line. Probability south is 55% (45% for the north). How far south if it moves, is another matter. Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make...