Everyone is talking about the moves in the FTSE100, but the ASX200 is having a moment - we see solid rate of change, the index is still no where near overbought, and we see 4 days of rising range expansion. Momentum is clearly to the upside, which suggests dips should well supported and shallow - hard to be short on timeframes 4hr+ and favour this higher but a...
The #ASX200 index, here on the Daily chart, could be under the threat of a potential Head and Shoulders pattern. It seems as if a lengthy bearish divergence might be starting to play its role here too. If this is to play out, it could be the start for this index losing more than two thirds of its value according to TheDawieSetup.
Hello Everyone,
The long-term bullish sentiment on AUS200 remains intact! Should the price stabilize below the weekly pivot point, a downward movement could precede the anticipated upward swing. Notably, weekly support levels have demonstrated resilience thus far, suggesting a robust foundation.
TradeWithTheTrend3344
AU200AUD - 24h expiry
Price action looks to be forming a bottom.
Short term RSI is moving higher.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 7650 will confirm the bullish momentum.
We look to Buy at 7600 (stop at 7560)
Our profit targets will be 7700 and 7725
Resistance: 7650 / 7675 /...
AU200AUD - 24h expiry
There is no clear indication that the upward move is coming to an end.
Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher.
A lower correction is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 7800 will confirm the...
Hello Everyone,
The AUS200 is showing signs of upward momentum, reaching a fresh weekly peak at 7818.57. There's optimism in the market to challenge the yearly high at 7929.90 and potentially exceed it. The current setup looks promising, but it's worth noting that significant resistance levels lie ahead at 7817.805, 7859.268, and 8107.547.
...
Chart is showing completion of Butterfly pattern. At PRZ we can observe divergence which is also indication of trend reversal so we can take entry according to our trade plan once it start making new ll's and lh's.
A parallel channel, also known as a price channel or trend channel, is a technical analysis tool used to identify and visualize the direction and strength of a trend. It consists of two parallel trendlines that encompass price movement within a specific range over time.
Here's how a parallel channel is constructed:
1. **Upper Trendline:** This line connects the...
Everything has mentioned in the chart.
Buying divergency on 4H time frame.
Hammer on demand Zone
Buying volume increasing
Target the current supply zone.
wait for price to get to the demand zone again.
thank you for reading.
Buy above 7656
And Target 7795
Risk reward in your favour
Don't make complecated
Keep simple you can put your trade 1 ,2, 3 time but buy only above 7656
Keep giving small sl
ASX 200 Index (XJO) closed yesterday sitting on major support line @ 7603.
Long-term higher highs have previously been established since 2021 indicating overall positive market growth.
Hello Everyone,
The AUS200 has recently breached numerous support levels and is now approaching the yearly support and pivot point. However, buyers are beginning to enter the market. Despite this recent drop, the overall sentiment remains bullish, and a turnaround is anticipated shortly.
TradeWithTheTrend3344
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!
