XJO ASX 200 - Taking a breather at 6000 XJO ASX 200 - Taking a breather at 6000 -
Top of trend channel
Rejecting 200 SMA
Hitting 61.8 Fib retracement level
Indicators looking to start turning down towards cycle low
Australia
XAO - downtrend to new lows aheadXAO just reached 0.618 retracement of primary wave 1 down and completed the counting of five waves for the completion of intermediate wave C. For higher confirmation a move below 5,600 would almost eliminate the contrary odds. The next move should be in direction to levels below 4,500. If prices continue to rise a next target would be 6687, before the trend turns down. FOLLOW SKYLINEPRO TO GET UPDATES.
ridethepig | Australian Yields breaking out? Smells like it...I would have preferred it if Aussie Yields could have sought the break for the close last week, the decision to hold up here, rather than forcing the pass is notable that Yield curve control is really coming through. Which is an appendage to the following position in AUD:
Those aiming for this macro swing position are effectively trading the artificial Fed control over USD supply side . As long as the printers are on full blast, the move from Fed towards a more lenient Yield curve control playbook will be done in broad daylight, as I have been saying for some time, they were faced with a decision as to whether they wanted a stronger currency or stronger equity market. After witnessing the Whitehouse policies being funded by Keynsian economics it is a disaster for confidence in the LONG RUN for the US. Capital is beginning to slowly migrate towards Europe and Asia. Get used to China and Russia having a larger seat at the table; hence we need to keep a close eye on Australia - China relations as the elephant in the room.
What is important in the positional play is not the attack, but rather how price responds at support levels. We are wanting to only add exposure in periods of consolidation, calm waters. Do not let the loud noise and sharp spikes affect your decisiveness.
AUDUSD Supply & Demand setupTwo setups, one short term, one long term aligned with the macro outlook.
On the short term front I'm trading the last significant supply zone with a tight stop. This is more of a risky trade with a tight stop.
Long term we trade the supply which broke the 10y low with some coronavirus news. Expecting this to be steel resistance, nevertheless used a more conservative stop. Aiming at the demand zone below 0.65 in this setup.
AUDUSD, probable correction ahead, before trend to new highsThe Aussie dollar is at the final stages of minor wave 1. It should probably arrive closer to the upper channel line in wave (v) before entering into a correction. If price crosses down the middle line of the channel it is a sign that the correction has started. The most probable target for the correction is the range 0.64 - 0.624 FOLLOW SKYLINEPRO TO GET UPDATES.
XAO - last leg of counter trend rallyXAO is tracing minute wave v, which is the last leg that will complete intermediate wave C and also primary wave 2. The most probable target for the end of this move is at 6,202. After this price should decline during primary wave 3 down to new lows. If price crosses down 5,700, the odds are that primary wave 3 has already started. FOLLOW SKYLINEPRO TO GET UPDATES.
AUSTRALIA200| INTRADAY BUY TRADE📈| VWAP BOUNCEHypothetical scenario:
Entry = White line (@MKT)
Stop = Red Line
Target = Green Line
Stay tuned for the updates.
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This post is solely for educational purposes and does not constitute any form of investment / trading advice.
So Much Hot Money Is Coming into Australia, What Happen Next?America situation and Hongkong situation make people worry reactively. Money come to a relatively safe place Australia, Will people invest those money into stock market?
Anyway, the market need a rest for some kind.
XAO - opportunity for more than 7% of returns in up to 30 daysMinor wave C counter trend rally is under early stages of developing, after its formation odds increase after the cross up of the minor A level. The most probable target before the trend turns down again is the range between 6027 and 6322. FOLLOW SKYLINEPRO TO GET UPDATES.
NTO Nitro Software LimitedThe Next Docusign and runnerup to Adobe has recently been offered on the ASX, Price will most likely retrace to 1.53 or even test but not stay at 1.47.
The STC oscilator may reach 0 before the next leg of going long. ASX:NTO
XAO - Australian All Ordinaries - retracement happeningAlthough the long term trend is down for XAO, there could be gains opportunities along the way in shorter time frames. We are now seen an Intermediate ABC pattern that should complete primary wave 2 when it's complete. We may see a wave B retracement between 4800 and 4900 points before gain opportunities arise in the intermediate wave C up. FOLLOW SKYLINEPRO TO GET UPDATES.
GDI (Australia) - Opportunity for more than 20% short-term gainsGDI Property Group, owner of some of the best office buildings in Australia seems to be tracing the early stages of intermediate wave ( C ). Most probable target is at 1.285. If prices cross down 0.98, this scenario will be reviewed. FOLLOW SKYLINE TO GET UPDATES.
XAO - ASX All Ordinaries - 5 to 15% returns during next 10 daysXAO seems to be tracing a primary wave B up of a cycle corrective wave b. It just began minor C up. We may see the index delivering 5 to 15% of returns during the next 10 days. FOLLOW SKYLINEPRO TO GET UPDATES.
AUDUSD - small correction before new highsAUDUSD ie tracing the early stages of a primary C wave up that should lead prices to around 0.80 in years to come. Short-term opportunities will happen as the next one that should appear when minor wave 2 is complete. The most probable next target is at 0.60 before prices increase again. FOLLOW SKYLINEPRO TO GET UPDATES.
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
GET READY! Aussies may have a problem. Price is struggling below ATR line.
Probability south is 55% (45% for the north). How far south if it moves, is another matter.
Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile, and you lose your money, kindly sue yourself.
XJO - Monthly Candle - ABC Elliott Wave Correction Taking Place?XJO - We have what looks like a classic elliott wave correction taking place. At this point in time an XJO Elliott wave ABC correction is a higher probability than a V shape recovery. Will this play out, I have no idea.
AUDCAD What to Look Out For Going After the WeekendThe price is oscillating here between a zone of support and a zone of resistance. Going into the weekend these are the most important areas to look out for.
We can see that the price bound off the 0.5 fib level just now with a really strong green candle. In general there seems to be an upward move happening on AUDCAD with a small slowdown in the last few days.
I will give a bullish advice here, and expect that after a small retracement the price will break through the resistance.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
