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Asx200

ASX200 Sighting June Lows – 5800Hello Fellow Trader! The US500 and Nasdaq continued their falls and finishing in the red on Friday. The ASX200 also had two consecutive lower low days breaking slicing below 6000 to finish the week also in the red. We could see slight recovery back into the 6000 which is key for the advance, or rejection indicating falls the ASX200 has not seen since June. Key Points: - Price holding below the 200 EMA - Price holding below the 50 EMA - Fibonacci 50% support cluster with target 1 (April Low – June High) - Price holding above the 50 EMA - RSI could break trend and range simultaneously for momentum Key Levels: Support – 5800, 5700, 5610 Resistance – 200 EMA, 50 EMA, 6000 Entry Zone: Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals. Optimal Entry – 5925 Supporting Entry – 5890 Candle Reversals for entry - Bearish Shooting Star - Bearish Engulfing - Bearish Dark Cloud Cover The Risk: As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios. If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital. IF: Price breaks above level 6000 and violates 200 EMA– this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter. Reward / Reward Targets: Optimal Entry 5925 – Target 1 5700 = 3x Reward to Risk Optimal Entry 5925 – Target 2 5610 = 4x Reward to Risk Supporting Entry 5890– Target 1 5700 = 1.5x Reward to Risk Supporting Entry 5890 – Target 2 5610 = 2.2x Reward to Risk
ASX:XJOShort
by tradetheday
2
NOT OVER YET, ONE MORE DAY TO GO & PROTECT 5836 $XJO On 26 August 2020, $XJO was at 6161 and I said we will pull back to the moving averages and a big breakout will come... The 2 day chart have shown us we have broke down to the down side. This week, I said we need to close above 5836 on the weekly to stay bullish. We did that. However, it is not over yet. The 2 day candlesticks DID NOT CLOSE this week , it will close next Monday and start a new candlestick on Tuesday 22/09/2020. Furthermore, we have closed below all three moving averages 20,50,200 and from the past more downside will come in the coming days/weeks. Therefore, Monday will be a very important trading day, Long - Close above 5919 Short - Close below 5836 If close below 5836, the 0.50 Fibonacci Retracement level is my next support....
ASX:XJO
by johninvest17
10
The ASX200 may be setting to head down the slippery slope lowerThe ASX200 is hovering at a key level at 5850, that if broken, will trigger some bears into action. Recent pressure from sellers has picked up off the 6200 area and the uptrend from march has been broken. Many feel that a selloff and reset is on the cards and warranted so it may soon come true. ------------------------------------------------------------- WE TRADE WHAT WE TEACH Check out our recent Live Streams from our profile page!! ------------------------------------------------------------- ** If you enjoy our free content, please support and follow our profile, by hitting the Follow button to get further high quality ideas. ** ** If you are following our ideas any comments and likes are most welcome and will be greatly appreciated ** ** With quality alerts and correct Risk Management, you can learn consistency and grow your account ** ** With quality portfolio management and defined risk levels to help your account grow and achieve steady profit targets while increasing your trading edge. **
ASX:XJOShort
by TradeTheStructure
Medibank Private TD Sequential 9 on Daily and Weekly Chart $MPLMedibank Private testing March low at $2.45, after going ex-div last Wednesday. This week using TD Sequential, we are seeing a 9 on the weekly and yesterday the daily is giving us a 9 us well. Could this be the bottom for Medibank private? Stop loss at $2.45. Company Profile Medibank Private Limited (MPL) core business is the underwriting and distribution of PHI policies through its two brands, Medibank and AHM. It offers Hospital Cover and Extras Cover to customers in Australia as well as health insurance to overseas visitors and students. It also participates in the broader healthcare industry through the provision of integrated healthcare services to Policyholders, government, corporate and other customers.
ASX:MPLLong
by johninvest17
The ASX200 is standing on the edge and looking over the cliffThe ASX200 is having a rough day as sellers beat up the bulls. Price has broken the uptrend but is holding above key support for now. A break down below 5850 and we may have a small problem but it will bring some volatility and good shorting opportunities. ------------------------------------------------------------- WE TRADE WHAT WE TEACH Check out our recent Live Streams from our profile page!! ------------------------------------------------------------- ** If you enjoy our free content, please support and follow our profile, by hitting the Follow button to get further high quality ideas. ** ** If you are following our ideas any comments and likes are most welcome and will be greatly appreciated ** ** With quality alerts and correct Risk Management, you can learn consistency and grow your account ** ** With quality portfolio management and defined risk levels to help your account grow and achieve steady profit targets while increasing your trading edge. **
ASX:XJO
by TradeTheStructure
Does the bounce today on the ASX mean the bulls are backThe ASX was hit hard yesterday only for the bulls to come back today and ramp prices back up....it is just like the selloff yesterday was a mistake...or the bulls took the day off. On the flip side, is the spike down yesterday a sign of some volatility to come. Price is now at an important level where we may see either a run back to 6200 or a lower high hold. Both the bulls and bears have a good argument....bears, the economy is struggling, inflation easing, unemployment rate spiked etc....for the bulls...ahh....momentum. As long as the US continue to drive to new highs, expect the ASX to hold in the new range....but if the cracks start to appear in the US, a break of 5886 will be on the cards. ------------------------------------------------------------- WE TRADE WHAT WE TEACH Check out our recent Live Streams from our profile page!! ------------------------------------------------------------- ** If you enjoy our free content, please support and follow our profile, by hitting the Follow button to get further high quality ideas. ** ** If you are following our ideas any comments and likes are most welcome and will be greatly appreciated ** ** With quality alerts and correct Risk Management, you can learn consistency and grow your account ** ** With quality portfolio management and defined risk levels to help your account grow and achieve steady profit targets while increasing your trading edge. **
ASX:XJO
by TradeTheStructure
Beach Energy Limited BPT.AX Extremely Attractive At $1.50Hello Fellow Trader! View: Beach Energy Limited (BPT.AX) coiling above a daily trend break and finding support at $1.50. In the month of August, Natural gas spot price finished up 44% and Oil up 8% to support what could be an undervalued company imbedded in the ASX during a pandemic, leaving most investors in limbo on where to invest their money. Their full year annual report for 2020 stated NPAT (net profit after tax) of $461 Million which was down 18% from 2019, but still provided the business with a 20% return on shareholders equity. BPT dropped 47% in the Covid sell down and is now starting to provide Key Points: Price holding above the 50 EMA Could see the 21 EMA break above the 50 EMA with price action momentum Price holding above Fibonacci 32.8% of prior major range March Low to June High Natural Gas up 44% - Oil up 8% in August Crossed daily trend line Flag pattern for break out Must watch price around the 200 EMA RSI could break trend and range simultaneously for momentum Key Levels: Support – 1.40, 1.50 Resistance – 1.60, 1.70, 1.80 + 200 EMA Entry Zone: Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals. Optimal Entry – 1.50 Supporting Entry – 1.50 – 1.53 The Risk: As traders and investors, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios. If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital. IF: Price breaks below 1.45 and closes below the 50 EMA – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter. Reward / Reward Targets: Optimal Entry $1.50 – Target 1 $1.80 = 3.75x Reward to Risk Optimal Entry $1.50 – Target 2 $2.00 = 6x Reward to Risk Supporting Entry $1.53 – Target 1 $1.80 = 3.4x Reward to Risk Supporting Entry $1.53 – Target 2 $2.00 = 5.5x Reward to Risk
ASX:BPTLong
by tradetheday
ASX:FXL hit by a smooth Criminal 😫🥵👿🚨ASX:FXL has been the dog of the year in the BNPL domain. It has shown no willing to follow its counterparts when it comes to rallying to the moon. However, leaving aside all these moonboys dreams, lets see what the technical analysis has hidden inside the charts. I tried to add few labels to the chart to make it self explainable but I cant miss to point the following: - A rejection to a key point in any market 200MA - An attempt to flip PSAR that worked but the flip level was quickly rejected - An attempt to break out of the pennant structure that was immediately rejected - an epic rejection volume. To me with these points I believe bears are still in control of this stock and until I see signs of breakout I cant tell anyone to buy. For those holding it you can hold as the structure is not broken. The price may be under pressure in next week but until the anchoring point is not broken you can hold. Keys point to watch out on this stock: - price breaking out of 1.320$ level - price breaking above the pennant - price breaking the 200MA and closing a week candle above that level. I will keep an eye on this stock for you and get you alerted when things change. Have a good weekend and keep smashing the likes. XTF.
F
by xtf_ze_trader