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ASX200 Short term Setup.ASX200 - Short term - We look to Sell at 6115 (stop at 6141) MACD is on a edge of a sell signal. Early optimism is likely to lead to gains although extended attempts higher are expected to fail. Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. 6120 continues to hold back the bears. Bespoke resistance is located at 6120. A higher correction is expected. We expect prices to stall close to our bespoke level (6120). Our profit targets will be 6032 and 6004 Resistance: 6100 / 6120 / 6140 Support: 6070 / 6030 / 5990
OANDA:AU200AUDShort
by Signal_Centre1
ALL ORDINARIES – An Expected MoveBeen speaking about this Index Heavily, this movement is to be expected & I’ll explain why. - This Demand Zone that we are moving through today was a 4H Demand Zone, it was Low Quality, meaning there is levels underneath it that are formed on Market Pivots, which yield Higher Quality Demand Zones - There are a number of Levels in the way of the Main Demand Zone at 5700 - Most notably the 23.6% Fibonacci Level, this area lines up nicely with liquidity to the left where we have multiple respected daily candles & wicks - This would be the most logical High Timeframe level to look towards, which the 23.6% Fibonacci Level acting as nice support for XAO. - We’ve got a decent amount of room on the indicators, Steamroller, CCI & RSI to facilitate a move in that direction also. - Our in-house developed Unicon Indicator was telling us there was an increasing bearish bias forming at the 6250 level (Orange Arrow) and that is being maintained with this break of the Demand Level. Looking towards that 23.6% Fibonacci Level in the immediate term. GET INVOLVED ↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓
ASX:XAOShort
by Unity-Trading-Group
1
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 trend is your friend, Go long until this breaks. It did $XJOWe closed below the trend line last week, can we get above it this week??? If we fail to do so, more selling will come and this could go for several days or weeks. The RSI indicator is still showing a downtrend and if we close below last week's low this week, (5893) it will trigger a sell signal with the TD sequential indicator. Furthermore, the MACD indicator is about to fire a sell signal... Therefore, be careful trading this week. Maybe, it is a good time to take some profits ...
ASX:XJO
by johninvest17
My Bearish view of ASX200 and When to enter for the Long Term.For those that use the "Fib Speed Resistance Fan", our XJO hit 0.25 and retraced. Could we retrace back to the 0.382 in the coming days/weeks? Also, I wish I have found this earlier!! This has correctly forecasted the support line during the March lows. Furthermore, a good entry point for investing in the long term is when the " William R" is below the yellow and is rising from the bottom. The last three times this has picked the bottom! I will be watching these indicators at the next sell-off.
ASX:XJOShort
by johninvest17
2
XJO ASX200 Update - Bear Flag Pattern We have gone up 20%+ since 23 March, this is likely to be an oversold bounce or "dead cat bounce" in technical terms. Since 90% of Shops are still close, Corona Virus is still in the headlines around the world and death rates are not showing signs of slowing down. Therefore, it is very unlike that the bottom is in and we are exiting this bear market in the short term. By looking at the short term chart, we can see a BEAR FLAG pattern forming for ASX200. I am expecting lower levels and we drop toward the gap. (4700-4800)
ASX:XJOShort
by johninvest17
1
My worst case scenario for ASX200 $XJO Hello investors and traders, Warren Buffett famously said, "Be fearful when others are greedy and greedy when others are fearful." I have seen this quote everywhere on social media last few days/week. Retailer investors are being so GREEDY right now and buying stocks because it is cheap...This tells me we are nowhere near the bottom. Learning from bitcoin, market bottoms when people are in depression and give up on investing because they are scared or have no money left. As mentioned last week, we need to close above the 200 MA LOW on the monthly chart in order to have a chance of a quick recovery (4885). Currently we are below this line, so let's prepare and assume we have close below this. Here is my WORST CASE scenario for ASX 200. We start the 3-9 TD sequential correction phase and head towards 2500. The catalyst for this to happen is an Australian recession or even a depression. What would you do if this is the case? What are you going to do to protect your portfolio/wealth?
ASX:XJOShort
by johninvest17
1
ASX200 $XJO Are we heading for a bear market? Good Evening, investors and traders, the Asx200 $XJO went lower again due to market uncertainty with the coronavirus. Last week, I said if we breach the 50 moving average, the first level of support is around 6300-6400. The market went straight down to 6259.9 on Monday and traded sideways between 6259-6500 for a few days and eventually making a new low of 6216 at Friday's close. Next week, I am watching 5800-6100 as a very important area of support. (Currently, I do forecast a dead cat bounce from there) Furthermore, the ASX200 $XJO must close above or near the 200 MA (red line). If not, we are more likely heading for a bear market. One important thing to keep in mind is that the VIX is at a bearish high reading. This tells the mid-large fund organizations such as investment banks and hedge funds to reduce risk and exposure in their long/short portfolios. The good news is that we do have a TD 9 coming for the Vix and this signal a likely top for the short term. Therefore, like the hedge funds and investment banks, I am still only risking a small amount of money in the market. I will go big again WHEN the Vix is below 15 and price level can close above all moving averages. At the moment this price area is around 6666-6800. Glossary: VIX The S&P/ASX 200 VIX Index ( XVI ) calculates the amount of volatility expected in the market over the next 30 days. • High readings indicate uncertainty ( bearish ) 20-30 • Normal readings suggest a slight bullish bias 15-20 • Low readings indicate low volatility ( bullish ) and strong investor confidence. <14.99 Bear market A bear market is a condition in which securities prices fall 20% or more from recent highs amid widespread pessimism and negative investor sentiment.
ASX:XJOShort
by johninvest17
2