AUS200 - WILL THEY RECOVERTeam, I am going LONG AUS200 at 8180-85 ranges
with stop loss at 8165-60
Target at 8212
target at 8226
Once it break above 8203, bring stop loss to BE.
Aus200buy
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It could be now or never for ASX 200 bullsI suspect it could be a case of now or never for ASX bulls.
Whilst it suffered its worst day in 9-weeks on Thursday, this could be part of an ABC correction and the 200-day MA is nearby as a probably support level, even if it breaks lower today. Futures markets shows heavy volume occurred around yesterday's lows (bears piled in around the lows) yet sentiment could rise if a debt ceiling deal is reached as reported, forcing a short-covering rally.
Yesterday’s low sits around a 50% retracement and 61.8% projection level, and there is a volume cluster around 7122 during the strong rally which could provide support. Furthermore, RSI (2) is oversold.
The bias is bullish above 7090 (below the 200-day MA) and for its next leg higher to begin.
ASX 200 bulls eye another crack at 7300 (Australia 200 CFD)The possible 'sympathy bounce' towards 7300 highlighted last week played out nicely. Whilst we're on guard for bearish momentum to return as part of the seasonal 'sell in May and go away', we retain a bullish bias over the near-term.
Prices have since pulled back from those highs and price action on the intraday chart appears to be corrective, in the form of a falling wedge (a bullish continuation pattern). It's forming a base around the 38.2% Fibonacci level and above the 50% retracement line, whilst RSI (14) is forming a bullish divergence.
- From here, bulls could consider bullish setups above 7226 in anticipation of a move higher
- The bias remains bullish above 7220
- The wedge pattern suggests an upside target near the base of 7300
Sympathy bounce for the ASX 200?Whilst prices are expected to open lower, we’re on guard for a small countertrend bounce. A bullish hammer formed on the daily chart at the lower Bollinger band which found support at the 50% retracement level and 200-day EMA. A bullish divergence has formed on the RSI (2) within the overbought zone. A break above yesterday’s high could potentially see it retest the 7275 low, or the monthly pivot point around 7300.
If we managed to bounce that far, we'd then look for signs of weakness for a potential swing trade short, given weak sentiment for global stocks and the tendency for stocks to underperform around this year due to "sell in May and go away" seasonality.
A break of yesterday’s low assumes bearish continuation.
AUS200Dear friends, what we are going to see in this post is why I'm waiting to go long on AUS200.
Price was travelling in the downward direction in the 4h time frame and now it is the verge of a breakout. As it is a breakout for the first time from the downward parallel channel, price will reverse as there is a supply zone at 7146.00 to 7183.80. Even though price is near to the 8h supply zone still price is coming from the strong demand zone. Now you can see there is a heavy buying pressure. Whatever AUS200 goes towards the supply zone still it is coming from a strong demand zone. So, shorting at this time is little is a bit risky but small profit can be expected. Don't expect too much. Just book the profit if you are shorting and sit quietly for the price action. Because it is very important to stay protected our capital in the stock market.
If you look at this chart the price has a strong support to retest to go upside. Trend is down in the lower time frame, and it is up in the higher time frame. As we all know that higher time frame controls the lower time. So, if you want to go short, yes you can. But don't expect too much. Price may or may not go up quickly. But all I expect is that the price will go down to take a strong support and then go up. If you are a breakout trader and you're on the verge of the market high, then you can plan your risk accordingly.
The current supply zone will prevent the price from going up. The traders who have taken the long position entrap bulls. Everyone rushes to open a long position as the price is going up rapidly. But after opening the long position the price starts to fall after the frenzy that heats up our head. If the price of this script starts falling, then the best place to open a long position is at 7029.00 or 6921.00.
Look at the chart attached for a better clarity. Avoid buying in haste. Perhaps 7110.00 is a good place to buy this stock if it closes above 7200.00.
But it is wise to follow your risk management before taking entry.
I love to share my ideas. Feel free to revise the text and provide feedback. It makes it so personal and improve us in better ways.
Thanks & Regards,
Alpha Trading Station
Disclaimer: This view is for educational purpose only & any stock mentioned here should not be taken as a trading/investing advice. We may or may not have position in the stocks mentioned here. Please consult your financial advisor before investing. Because Price is the "King of Market".
FXOPEN:AUS200
How to catch a falling knife?!!!We are oversold on the indices and will be looking for a bounce...dnt know if its just temporary relief or the bottom....I dnt care actually I will just carve up my piece of the meat:)... buy stop at 6475. . . . .(already pocketed gains from the short see attachment)
AUS200 LONG - Buy Entry - H4 ChartAUS200 LONG - Buy Entry - H4 Chart
Buy @ Market or Buy @ Break of 7394.78
Symbol: AUS200 - SPI200
Timeframe: H4
Type: BUY
Entry Price: Buy @ Market or Buy @ Break of 7394.78
TP - Resistance @ 7768.01
Last High - TP - Resistance @ 7648.47
TP - Resistance @ 7537.31
Resistance @ 7394.78
MN Support @ 7304.74
PP Y1 - Pivot Point Yearly @ 7191.90
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Aus 200 LONGAfter a bullish flag and break, the AUS200 has started to retrace to Support
This is an interesting area to BUY as there are a couple of wick rejections at the 7380 area
Using the bullish the momentum price may reject off this level again and then move to the upside to our highs.
Buy @ 7380’s
Stop @ 7365.1
3:1 RR
AUS200 Technical Analysis, Australian DollarAustralian dollar is looking bullish form the past few days By making it's higher high's and higher low's it give us attention to buy it from this level.
This is our technical analysis about Auzi Dollar for the week ahead.
If you like this idea don't forget to like and comment!
AUS2200, Elliott Analysis. This index had an upward trend in the past always, and has not grown much after the recent fall (due to the Corona virus).
Low risk and I expect it to grow well.
AUS200 Long Buy the Dip1h Chart shows price to be reversing with confluences: broken bearish tl, set new higher high and higher low, support at 1h 50ma, support at previous resistance area. Targeting the 127% and 161% in extension
AUS200 short term trade opportunityCurrently in a range forming a flag on hour chart.
Potentially another move up.
However, bigger picture looks like its due for a deeper correction at some point.
Order to be cancelled if not trigger before Monetary Policy Meeting Minutes 11:30am Melbourne, Australian Time.
AUS200 H1 Potential short term long move.AUS200 currently in a Sideway action and I've been able to identify a couple BAT patterns.
1st Bat pattern give me the confidence that it had worked.
2nd one (if it ever reaches the D leg) will be the one I will enter the trade.
No pending orders.
