Asxshort
The Trend Is Your Friend, more selling to come for BUBS AUST?Trade the trend, "the trend is your friend".
All three indicators MACD, RSI and CMF are pointing downwards which tells me this stock can break the support line.
Thus, going down fast!
We could go as low as 85 cents at this stage.
A good buying opportunity coming soon.
I will keep it on my watchlist.
$AGH ALTHEA looking bearish We closed below the 200 MA today and with the death cross coming...
The stock price doesn't look good...
Australian SP200 looking for a drop. ie: short AustraliaPitchforks are handy for predicting future trend directions. The longer term has been directed by that big upward facing pitchfork over the last few years, but I have a feeling once this upper resistance level is hitexpect to see some serious headwinds. Aussie bond yields are dropping like rocks at the moment and the currency is failing against all peers. Plus every Hedgefund manager and his dog are lining up to short the Aussie housing market which is at levels that no other part of the world is experienceing. In terms of commodities, of which Australia’s economy is made up of the exports thereof, all are dropping except for the one that is most crucial; iron ore. However, I cant see how the price of this can remain high for too much longer. If a drop happens there expect a rough landing for Australia; if im not mistaken about 40% of Australia’s economy is based on iron ore exports to china, and a further 30% of the economy after that is the housing market.
So looking back at the technicals, if this peak is not to turn into support, I’m tipping a drop and then a fall in line with that smaller pitchfork. Trade accordingly.
BHP Resistance and Support zonesAs you can see the price is getting very close to the fibonacci zones drawn on the chart. We can expect to see a pullback to the lower box if we do not break above the upper resistance box. That being said If my short does not go to plan and we break above we are targetting higher highs. Check out my youtube channel at aweeboneshTV for more ideas :D
ASX - Limitedupside with Head and ShouldersOANDA:AU200AUD
ASX200 - Intraday - We look to Sell at 6693 (stop at 6713)
The dip was bought and the rally sold resulting in the market posting little net change. An overnight positive theme in Equities has led to a higher open this morning. A bearish Head and Shoulders is forming. Trend line resistance is located at 6708. The previous swing high is located at 6705. Bespoke resistance is located at 6993. The formation has a measured move target of 6460.
Our profit targets will be 6490 and 6460
Resistance: 6673 / 6693 / 6760
Support: 6611 / 6490 / 6460
ASX approaching support, potential bounce!ASX is approaching our first support at 6238.2 (horizontal swing low support, 50% Fibonacci retracement, 61.8% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 6306.1 (horizontal swing high resistance).
Stochastic is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
ASX approaching support, potential bounce!ASX is approaching our first support at 6238.2 (horizontal swing low support, 50% Fibonacci retracement, 61.8% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 6306.1 (horizontal swing high resistance).
Stochastic is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
ASX approaching resistance, potential drop! ASX is approaching our first resistance at 6230.9 (50% Fibonacci retracement, horizontal overlap resistance where a strong drop might occur below this level pushing price down to our major support at 6151.0 (100%, 61.8% Fibonacci extension, 76.4% Fibonacci retracement, Horizontal pullback support)
Stochastic is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
ASX approaching resistance, potential drop!ASX is approaching our first resistance at 6226.6 (horizontal swing high resistance, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 6146.0 (61.8% Fibonacci retracement , 61.8% Fibonacci extension , horizontal overlap support).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
ASX approaching resistance, potential drop! ASX is approaching our first resistance at 6226.6 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 6146.0 (61.8% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap support).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
ASX approaching support, potential bounce! EURCAD is approaching our first support at 6102.4 (horizontal overlap support, 23.6% fibonacci retracement) where a strong bounce to our major resistance at 6226.6 (horizontal swing high resistance, 61.8% fibonacci retracement) might occur.
Stochastic is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
ASX set for Trend Reversal. Bearish Divergence WeeklyHi all,
as you can see on the weekly time frame (also monthly) we are witnessing positive price action for the ASX. Although positive price action is generally celebrated, it needs to be backed up with positive movements in relative strength, which in this case is not happening.
As you will see on the chart published, despite the positive price action we experienced a lower high on the RSI, which during an uptrend can often be an early indicator for a trend change. This is commonly known as an RSI Bearish Divergence.
Due to this, I am opening a long term short position in which I expect significant downside movement, and since being so close to the recent weekly high, I only have to risk a minimal % of my position.
Anyone who follows me will know that these are my ideal trading set ups and I will more often then not open positions when these set ups occur.
ASX - A few reasons why this market is cooked.I can see a lot of things happening here, a very interesting chart indeed.
I am expecting a break of this mini head and shoulder pattern shortly which should spark huge selling in Wave 3.
ASX 200 - In trouble After falls in the index in the last quarter of 2018, we have see a rally back into the sell zone(87.5% fib).
My target would be around the 5000 handle, which is nearthe 75% fib level on the monthly chart . This area is where the bulls should turn up,
as the index is in a very strong bullish trend on the monthly chart.
ASX Top HeavyLooking at the ASX on the monthly chart
Seems like a never ending 10 year bull market
*Years calculated since last retrace in 2008 to current 2019 is 11 years. We are coming to the end of another 10 year market cycle (or GFC)
*I've added an AB=CD (in blue) to price to project where D will end. I've also cloned price for a better visual.
*Target objective is showing to hit the 1.445 fib extension
*I've cloned the 2008 GFC pull back and added it to the top of price for a projection of where price may pull back to.
*The fibs from A to B retracement hit the 618 fib and with the clone setup from C to D also fit the 618 retracement which also happens to ling up perfectly with the trend line.
*Volume has dropped off significantly
*OBV has created a W indicating price wants to go higher
*Bearish divergence in the Histogram
*Will is embedded and stupidly over bought
*RSI is also showing bearish divergence
*VPVR is also showing that its in single ticks
*The 200ma is also sitting around the POC of VPVR at $35
*With a GFC inevitably lurking around its only a matter of time before this bull comes to an end.
* Don't forget to hit that like button and follow me on Trading View for more chart analysis :)
ASX approaching support, potential bounce! ASX is approaching our first support at 5807 (61.8% fibonacci extension, 23.6% fibonacci retracement, horizontal pullback support) and a strong bounce might occur below this level pushing price up to our major resistance at 5928(61.8% fibonacci retracement, horizontal swing high resistance).
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
ASX approaching resistance, potential drop! ASX is approaching our first resistance at 5927.6 (horizontal swing high resistance, 50% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 5694.0 (horizontal pullback support, 61.8% Fibonacci extension, 50% Fibonacci retracement.
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
ASX approaching resistance, potential drop! ASX is approaching our first resistance at 5838 (100% fibonacci extension, 78.6% fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 5601 (50% fibonacci retracement, 61.8% fibonacci extension).
Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
ASX approaching resistance, potential drop! ASX is approaching our first resistance at 5790.8 (horizontal swing high resistance, 23.6% fiboancci retracment, 100% fibonacci extension) where a strong drop might occur pushing price down to our first support at 5655.3 (38.2% fiboancci retracement, horizontal overlap support).
Stochastic (89,5,3) is also approaching resistance where we might see a corresopnding drop in price.
SHORT ASX approaching resistance, potential drop!ASX is approaching our first resistance at 5788 (100% fibonacci extension , 50% fibonacci retracement , horizontal swing high resistance) and a strong drop might occur below this level pushing price down to our major support at 5389 (100% fibonacci extension , 76.4% fibonacci retracement , horizontal swing low support).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
ASX approaching resistance, potential drop!ASX is approaching our first resistance at 5788 (50% fibonacci retracement, 100% fibonacci extension, horizontal swing high resistance) and a strong drop might occur below this level pushing price down to our major support at 5389 (100% fibonacci extension, 76.4% fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
ASX approaching support, potential bounce! ASX is approaching our first support at 5314 (100% fibonacci extension, 78.6% fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 5695 (100% fibonacci extension, 38.2% fibonacci retracement, horizontal swing high resistance).
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
