So much negative divergence on XJO currently, it is ripe for a fall. Look how the last three higher highs have been when the MACD was making lower highs.
Let's see what triggers the fall, but with current US market reactions, this looks very soon.
PEPPERSTONE:AUS200 is about to break the resistance trendline. It should be noted that PEPPERSTONE:AUS200 is in a bullish trend on higher timeframes. Currently, there is bullish divergence on 1 hr and break of resistance trendline can potentially lead to bullish price action!
SHORT trade is in order. Trend lines on RSI-14 and CandleStick chart are augmenting each other towards Bearish trend establishment. Therefore, place entry as per Fibonacci retracement at 0.38 for entry. S/L should be previous LH. Set TP as per risk/reward ratio of 1%.
In this video I go over my very simple method of entering trades according to my "Set It and Forget It, No Brain cell" strategy. A few very simple tricks that save a lot of grey hair (or so I think)
AUS200 - Bullish Trend on Daily time Frame
Analyzing previous data, one can see that after making HH, trend retraces to Fib 0.38 always and Fib 0.5 most of the time and Fib 0.61 occasionally. Moreover, bullish trend continues for 10 to 12 days and then re-traces for 3 to 5 days. And then again it resumes its upward trend.
Therefore, two types of trades can be...
The inverse head and shoulders chart pattern is a bullish chart formation that signals a potential reversal of a downtrend. It is the opposite of the head and shoulders chart pattern, which is a bearish formation.2
The inverse head and shoulders chart pattern consists of three (3) troughs: the first and third troughs are roughly equal in depth and are known as...
Always keeping it simple with Multi-Time Frame Highs and Lows, IB's and OB's.
(previous sell levels still marked)
High Level Overview
AUS200 Overall Bullish and is at it's highest high.
Monthly RSI is looking seeking to purchase higher, although, we are due for a pullback on the lower timeframe.
Break of structure could lead to a test of levels...
Hi, a high-risk high reward play on the AU200 with a break and retest of the rising wedge with bearish RSI divergence. If playing along place stoploss above last swing high and wait for a break of trend on lower timeframe will also bring stoploss to breakeven when safe to do so. Good luck 🍀
AU200AUD - 24h expiry
The correction higher is assessed as being complete.
We expect a reversal in this move.
Risk//Reward would be good to call a sell from current levels.
A move through 7725 will confirm the bearish momentum.
The measured move target is 7625.
We look to Sell at 7750 (stop at 7790)
Our profit targets will be 7650 and 7625
Resistance:...
XJO has recently broken out of a rising wedge on a daily. MACD has now also crossed, showing bearish divergence on a daily.
Finally, as at today's close, XJO has completed a head and shoulders pattern on an hourly.
The measured move is 150 points to 7,550 although 7,565 looks a little more realistic.
Stops just above the right shoulder at 7,750.
BBOZ time!
Weekly Idea based on Multi timeframes Highs and Lows, OB's and IB's
Sell Entry is a possible pivot point where price can reject off and continue to the upside.
