I applied Bollinger bands to this monthly chart of
BBOZ and you can see for the last 12 months,
the bands have been narrowing. This is a classic signal
that the price has stabilised and due for a breakout.
Now the question is ... in which direction?
Lets take a look at the macro...
Every mf asset class is over inflated and yes nominal
interest rates have...
With markets only recently turning kaput, and the "crisis" looking inevitable, I am long on BBOZ. This ETF is not for the faint hearted and has significant bleed, but more the risk, more the reward.
At a broader perspective, I am looking for at least a 100% upside from the bottom, which I feel was reached at $3.15. This is based on previous reaction of BBOZ...
Aussie Inverse ETF.
Been in and out of this ETF. taking another position now.
There is downside risk but coming into earnings season I am bullish (downside risk to general equities)
Charting a decaying asset isn't usual practice but if you can determine some S & R levels it can be beneficial.
2WEEK chart shows
bollinger bands narrowing in a small range.
this typically signals a breakout is about to happen,.
I expect BBOZ to move sidways in this narrow band
range for some time.
but when the XJO crashes.. expect BBOZ to break
strongly to upside.
BBOZ still clealy in a bear market as the RBA
is sponsoring the XJO higher.
it works until it doesnt.... thiss...
daily chart formation is looking good.
price is holding @ support and an inv.
h +S pattern could appear soon.
fortnightly chart looks as though buying support
has come into play in the last couple of monmths.
RBA might change direction and hit the brakes
on its free money policy. Petrol is already breached $2/Litre.
irrational exubrerance is showing in the markets.
central banks got your back right?
believing governments will look after your interests is
like believing a prostitute loves you.
time to speculate on a short position
This weekly chart shows the ASX200 is still on it's way up in the longer term. When you switch it to the daily BBOZ will likely go up meaning the
ASX GOING DOWN.
If prices reject $7.95-$8.11 than more likely keep going down, ASX UP
Weekly: Bearish points!
The Candles are riding the Bollinger band downward.
Prices are under the midline of the Lin Reg
The MFI used...
We are about to have a big drop in the Stockmarket. Anytime now.
The Bollinger band squeeze cannot get any tighter really and the price is sitting on the midline acting as support.
Once we get into the upper Linear Regression (blue) than it will be eminent. We are already there on the daily.
short the stockmarket or long BBOZ
All eyes on this inverted H&S formation for a breakout (4 hour chart). This will also indicate that the index is turning down. There is currently no indication whether the downturn is a temporary retracement or permanent
I may well have pulled the trigger too early, purchasing BBOZ on the 21/04/2020 for a price of 12.26 per share. I will need to see a break of the Ichimoku cloud on the 1 HR chart and a higher lower before I'm bullish on BBOZ, a stop loss has been set at $11.89.
hey traders,
still undecided on bboz. theres more than one option. you're quiet literally guessing. hoping upside for the majority. smart enough not to be deceived by the possibility of downside
$BBOZ Daily Chart - Daily candle is a shooting star indicating a reversal, at a previous resistance zone with diverging RSI. This adds to the conviction of a potential change in direction. We have also not seen a retest of the breakout levels, so caution is advised
Closed below the downtrend.
Several weekly and monthly levels have been already tested before.
If we close above the downtrend in the coming week, expect the price to reach the untested weekly levels.
Massive fiscal stimulus over the weekend and the Dow closing on the green on Friday might keep the Bears down earlier in the week, but the bad news and the panic...
