Australia 200 (AU200), Trading Plan.I will open buy near 5940 if there will be a pullback
- Price broke up a powerful level
- Daily candle close above it
- The middle-term trend is bullish.
Australia200
Weekly - BWX Limited - ASXLong until Fisher bounce
50 EMA about to cross 100EMA - Long until cross.
Most likely will double top at 4.41.
Rules from daily still apply... except $6 looks unlikely for now.
Highest volume week for a while approx 2 weeks ago.
AUstralia 200 a Short SignalThe price broke down key level 6199 and D1 close under it.
On the chart we see that the price bounced many times from that level and made a fake broke. It is powerful signal that big players are interested in that level.
I look for a short near: 6189.9
S/L: 6218.5
T/P: 6044.7
C.C.L. — Candle created level
C.A.P. — Candle Approved level
F.B. — Fake broke
P. - potential profit in 5 times bigger
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AUSSIE AUSSIE AUSSIE Australia200 Long RR3.72Hello,
lets look at Australia 200.
Critical Zone: 5640 ~70
There has not been much action for Australia 200 this year. With this type of condition, if we stick to the plan, we can all make consistent profits until the pattern ends. As Chinese economy stalls, we will expect to see Australian market stabilizes.
As we can see on the chart, since February 2017, Australia 200 has been trading in two ranges
1) 5670 to 5790 (120pips)
2) 5790 to 5950 (160pips)
the second range only lasted less than two months, for the following three months, AUS200 have been trading between the 5640/ 5790 (150pips)range .
As we speak, Australia 200 is trading at 5665, it is now a good opportunity to enter and target 5785 (120pips), SL at 5617 (48pips) 1:2.4RR
Thank you for reading. Happy trading
