AUS200
Black Friday RallyCongratulations to those how made money over the Presidential Election.
Now I will just wait for ThanksGiving and Black Friday, here we should see the market Rally to the magical 5400.
Where is the market going to end by the end of the year:????
5500 or 5624?
A very premature but possible outcome for those down under!I'm not normally one for pointing out patterns before they're close to trigger, but this ASX (XJO, AUS200 whichever you follow) has a beautiful H&S pattern emerging having now made a distinct lower high from the 5600 area. It will be interesting to see how it handles the overhead resistance this week but I'll be watching this like a hawk if we see further downside in this index!
Election timeAfter a quite month on the sideline, all my indicators are pointing to LONG.
Why?
Election is almost finish.
MACD is on a BUY
Stoch is on a BUY
EWA: Australia is a longThe trend is now up, and we have a weekly 'Time at mode' signal pointing to 22.59 as the target.
Risk is a drop under 19.37. You can buy dips, or speculate on copper, or on FXA or AUDUSD as well.
Steel/Iron ore is also looking great, which makes this a sure buy.
Shares of X or STLD would be a nice buy as well.
Good luck,
Ivan Labrie.
AUS200 Bullish Bat pattern completed. Completed Bullish Bat Pattern on the AUS200 Hourly Chart.
List of confluence
Trend line is holding really strong
Double/Tripple bottom shows strong support
Pattern is completed at 886 and quickly bounced.
Hourly Candle shows strong buyers/bull
AUS200 SELL TRADERESISTANCE AREA AT 5674 SHOULD PUSH BACK PRICE FROM THAT LEVEL.
THERE ARE A NUMBER OF PLACES ON THE CART WHERE PRICE WAS RESISTANCE AND BECAME SUPPORT AFTER THAT.
PLACE A SELL LIMIT AT 5674.
STOP LOSS IS 5803.
AUS200 testing Resistance zone, Watch for Bearish Price ActionAUS200 testing strong zone 5430-5462, Watch out for bearish evidence and a potential move to the downside from this major zone.(target 5180).
Happy Trading
Finally some action " LONG"The month of August was a sell off market, and September have dropped Monday all the way to 5150.
But now, with 2 technical analysis confirmation, I am confident in going Long, aiming the 5600.
Things to have in mind during September"
1. SUPER Thrusday 22nd of September, the USD FOMC rate decision, expect a lot of volatility, and secure your positions.
2.Australian's footy finals is on the 1st of October, that means, the market will rally the Friday and the Monday after the finals, (this happens every year)
3. Expect some news from the USA election.
Good luck trading.
Reporting season in Australia to begin soonIts been 14 days since no one have updated a chart, that could means that everyone is making money. BUT lets get ready for 4-5 weeks of volatility with the Australia reporting season kicking off on Wednesday.
I am still long from 5420 , aiming at 5800 by the end of the year.
Here is a link to the days each big company will be reporting. www.commsec.com.au
Here is my Harmonic trading post that I uploaded 2 months ago.
We are in a Bull market in Australia unless something happens in RIO's Olympic.
AUDNZD : Last Wave Downside. Target $1.031Last Down Wave Possible before reversal expected.
Short the Breakout from Triangle
Downside Target 1 : 1.03129
SL: 1.054
Ohhh Nooo, Shooting Star, Not Again.This is not good, time to exit my long position, and wait for a Retest at 5238 or 5129. or USA Interest Rate on July 26-27.
But I will go back long, if it breaks 5420
Waiting for Australia new PM Before RallyStill waiting on a decision on who is going to be the next PM, it have been 5 days since the election finished.
Expect huge rally after the announcement of the PM
This is the same Graph from MAY, still holding on to my trend line
I Bought in last week at 5086 with target 5445
BREXIT IS OVER, LETS LOOK TO THE FUTURE NOWJust a follow up on my chart of which I entered LONG at 5086 on Monday.
I have posted this same chart 3 times now and I have not been wrong.
Next Monday we will have a New prime Minister in Australia, expect the Market to jump back all the way to 5400
Good luck trading.
AUS200 DAILY SELLING OPPORTUNITY Possible selling opportunity from the Daily supply zone above marked above current price. If prices does fall from the zone, there is no opposing demand till roughly 500 pips away
