AU200 Downside - House of cards.I lately published a SPDR500 short idea as interest rates and inflation are both on the rise in the US.
There is currently a knock on effect in global markets, and this textbook technical short trade exemplifies it.
Au200
AU200 - LONGAU 200 has just completed an expanding triangle at the 5 count.
We are also at support and we can see failures to make new lows.
We should look to go long here.
If we aim for the 1.272 our target would be at the 7789 mark, there will be bumps along the way!
AU200 OpportunitiesAU200 managed to reject the 50 percent very nicely. Structure remains bullish. As long as price does not break the level marked with the rectangle and closes below, the structure will remain bullish and long opportunities could be taken.
AU200 No clear direction yet. Overall trend remains bullish.No clear direction yet for the Au200 although Higher time frame trend remains bullish but price is trapped into a consolidation phase. Needs to break to either side in order for a possible trade opportunity to be given.
AU200 - 5 COUNT REVERSALAU200 has just completed a 5 count reversal on the daily.
Market has just taken out all new stops in June/July.
This is an indication to go Long
First target would be in the top third of the box
Thank you
AU200 - SHORT > LONGAny form of support is greatly appreciated and helps motivate to publish more ideas for the community.
OANDA:AU200AUD
Important Price: 7040.6
We want to see price move away from this, confirming our move down to 7005.5 . After we see this move happen, purely from a price action perspective we're able to determine a further sell off or SHORT.
What do we need to keep an eye on?
Pay close attention between 7040.6 and 7005.5 as these prices will help us in staying in a short until Target #1 and Target #2.
Target #1 6918.8
Target #2 6818.9
Australia 200 Index - Convergence sell trade using price actionTaking a look at the Australian 200 Index, we have seen a good potential short term trading opportunity for a Sell.
As you can see from the 15 Minute chart we were watching to see what price did if it reached the 6000.0 level as this could potentially show a rejection here because its a psychological level in general.
This alone is not going to present a high probability trading opportunity so we look to the price action and the structure of the movement getting there that can help give us a clue.
Price was in an ascending channel on the way up which then turned into a more tighter ascending channel inside the larger one. This structure in price showed 3 hits on both of the channels topsides (marked with blue and pink arrows) creating two bearish 3 drive patterns in the process. What increases the probability here is that both of these patterns also converged and lined up with the 6000.0 level.
Once we saw price start to show signs of weakness and move lower we just had to be patient and use the lower inner trend line of the smaller channel as our trigger for the short trade if this trend line gets broken to the downside which occurred nicely.
For trade management we want to place a stop just above the 6000.0 level and the highest high and live with the result while taking profits along the way as price keeps going lower.
ASX200 / Corrective structure and target on the next ResistanceMain items we can see on the chart:
a) The price is above the ascending channel
b) There we can see a small correction after the new higher highs
c) If the price breaks above the corrective Structure we will assume a continuation movement
d) The target will be the next Resistance zone
AU200Welcome to this analysis on AU200.
Australian stocks have been in a bullish trend since March.
Looking at the 12HR chart, It looks like it just broke out of a month-long symmetrical triangle consolidation which should act as a continuation pattern in this case.
The target of the pattern is around 6380$ as long as the price holds above the support of the pattern.
There is a long term horizontal resistance and an Order Block around the target zone in the 6300$ to 6400$ which has confluence with the patterns target. The price can get to those levels as long as it stays above 5900$.
This trade idea has 4.5 Rewards to the Risk ratio.
Good luck trading.
#Australia 200 #Long #Bullish #Shark #PatternBullish shark pattern near completion on the Australia 200 index.
T.P.1) R/R = 1.35%
T.P.2) R/R = 2.4%
Trade Idea on AU200 (ASX) by ThinkingAntsOkMain items we can see on the chart
a) The price is on an ascending Wedge
b) Currently, we can observe a clear corrective Structure (Yellow lines)
c) The next resistance zone we have is a weekly one (light blue rectangle)
d) Based on the technical elements we have our conclusion is: If the price breaks above the corrective Structure, that will give us a high-quality scenario for long trades towards the next resistance zone
e) The Risk-Reward Ratio of this trade is 1 : 2
f) We will move our stop to break even at 6200.00
WEEKLY CHART: (Understanding why we choose that target)
Short Analysis on AU200 ( ASX ) 2 timeframes / By ThinkingAntsOk
Main items we can see on the 4HS chart:
a) From the Historical Higher High at 7200 the price made a bearish movement and found support at 4800
b) From there we observed a bullish movement towards the Broken ascending trendlines of the previous ascending motive waves
c) The structure that we can see is a Wedge Pattern doing a pullback to the previous ascending trendline
d) We saw a breakout of the wedge pattern and a corrective structure next to it
e) Our Forecast is that there is a major resistance zone at 5600 -5650 and we will expect a bearish movement towards 4700-4800
WEEKLY CHART:
AU200 is a bearish movement coming? by ThinkingAntsOkUse this as a guide for developing your view of the situation:
Main items we can see on the 4HS chart
a) The price made a pullback on the broken weekly Chanel
b) The Pull-back structure is broken
c) Currently, the price is on a flag pattern
d) We expect a bearish movement towards the next Support zone if the price breaks with a clear candlestick the Flag Pattern
AU200 going up Ascending triangle breakout, similar to many other asset class at the moment, there's major shift of sentiment going on.
###This is not an investment advice, trade with care with your own risk!###
Daily Analysis on AU200 ( ASX ) by ThinkingAntsOkUse this as a guide to develop your view of the chart.
Main items we can see on the Daily Chart:
a) The main structure is an ascending channel
b) After the price reached the Weekly resistance zone, we saw a huge sell-off on the index.
c) Currently, the price is on a massive support zone
d) From there we expect a pullback to the broken ascending channel
e) From an Elliott Wave perspective, the movement we are expecting is a B wave (correction)
Weekly Analysis on AU200AUD / ASX 200 by ThinkingAntsOkUse this as a guide to develop your setup.
Main Items we can see on the Weekly Chart:
a)The price is against a significant reversal zone with the possibility of making a double top pattern.
b)At the same time, the price is inside an ascending channel since 2009 and currently is against the upper trendline.
c)If these two technical points work as resistance for the price, we expect a bearish movement towards the lower trendline of the ascending channel.
d)This Chart works with an analysis purpose only. If you want to develop a setup based on this, you should go to lower timeframes such as one day / 4hs and define your Entry filters there.
"ASX: long vision in the short term" by ThinkingAntsOk4H Chart Explanation:
- Price bounced on the Support Zone.
- Price broke the Descending Trendline.
- Now, it has potential to move up towards the Resistance Zones.
However, in the Long Term we have a short view. Take a look!
Weekly Vision:
Daily Vision:
Updates coming soon!
"ASX in new highs since 2007: what's next?" by ThinkingAntsOkDaily Chart Explanation:
- Price is against the Weekly Ascending Trendline.
- Price is on a Micro Ascending Trendline.
- Bearish Divergence on MACD.
- If price breaks the Ascending Channel at 6740, potential to move down towards the Support Zone at 6400 and, then, to the Bottom of the Ascending Trendline at 5620.
Our Weekly View support this idea. Check it out!
Weekly Vision:
Updates coming soon!
AU200Price is making new highs while momentum peaked on the 25th of February.
This warns that the rally is not sustainable.
A reaction back down to test the channel is likely and a closing below with failure to get back above would be quite bearish.
