Get started

Australianstocks

ASX200 Sighting June Lows – 5800Hello Fellow Trader! The US500 and Nasdaq continued their falls and finishing in the red on Friday. The ASX200 also had two consecutive lower low days breaking slicing below 6000 to finish the week also in the red. We could see slight recovery back into the 6000 which is key for the advance, or rejection indicating falls the ASX200 has not seen since June. Key Points: - Price holding below the 200 EMA - Price holding below the 50 EMA - Fibonacci 50% support cluster with target 1 (April Low – June High) - Price holding above the 50 EMA - RSI could break trend and range simultaneously for momentum Key Levels: Support – 5800, 5700, 5610 Resistance – 200 EMA, 50 EMA, 6000 Entry Zone: Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals. Optimal Entry – 5925 Supporting Entry – 5890 Candle Reversals for entry - Bearish Shooting Star - Bearish Engulfing - Bearish Dark Cloud Cover The Risk: As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios. If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital. IF: Price breaks above level 6000 and violates 200 EMA– this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter. Reward / Reward Targets: Optimal Entry 5925 – Target 1 5700 = 3x Reward to Risk Optimal Entry 5925 – Target 2 5610 = 4x Reward to Risk Supporting Entry 5890– Target 1 5700 = 1.5x Reward to Risk Supporting Entry 5890 – Target 2 5610 = 2.2x Reward to Risk
ASX:XJOShort
by tradetheday
2
Beach Energy Limited BPT.AX Extremely Attractive At $1.50Hello Fellow Trader! View: Beach Energy Limited (BPT.AX) coiling above a daily trend break and finding support at $1.50. In the month of August, Natural gas spot price finished up 44% and Oil up 8% to support what could be an undervalued company imbedded in the ASX during a pandemic, leaving most investors in limbo on where to invest their money. Their full year annual report for 2020 stated NPAT (net profit after tax) of $461 Million which was down 18% from 2019, but still provided the business with a 20% return on shareholders equity. BPT dropped 47% in the Covid sell down and is now starting to provide Key Points: Price holding above the 50 EMA Could see the 21 EMA break above the 50 EMA with price action momentum Price holding above Fibonacci 32.8% of prior major range March Low to June High Natural Gas up 44% - Oil up 8% in August Crossed daily trend line Flag pattern for break out Must watch price around the 200 EMA RSI could break trend and range simultaneously for momentum Key Levels: Support – 1.40, 1.50 Resistance – 1.60, 1.70, 1.80 + 200 EMA Entry Zone: Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals. Optimal Entry – 1.50 Supporting Entry – 1.50 – 1.53 The Risk: As traders and investors, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios. If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital. IF: Price breaks below 1.45 and closes below the 50 EMA – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter. Reward / Reward Targets: Optimal Entry $1.50 – Target 1 $1.80 = 3.75x Reward to Risk Optimal Entry $1.50 – Target 2 $2.00 = 6x Reward to Risk Supporting Entry $1.53 – Target 1 $1.80 = 3.4x Reward to Risk Supporting Entry $1.53 – Target 2 $2.00 = 5.5x Reward to Risk
ASX:BPTLong
by tradetheday
Fosterville South Exploration - A +450% IPO in less than 30 daysWhat an IPO, what a run! The tight share structure of the company (25% of the company is owned by the Management and founders) sent the stock to $4.6 today. After the incredible Kirkland Lake story, the Fosterville region is more than ever keeping its reputation of creating lots of money. What about value? Is this stock interesting from a fundamental standpoint? The answer is "I don't know", the lack of information on the company and especially on its structure does not yet, make it a sure bet for the long term.
F
by Lahbabi
Australia! A Bogans ParadiseHello Traders, Looking at the chart we can see price has been in a well defined channel for the last 10 years. It has taken that long for the price to crawl back up to the previous 2007 top and I mean crawl. From an Elliot Wave perspective these are some unhealthy looking waves with deep retracements each time basically invalidating the EW principle. Either way, you can see some kind of 5 waves impulse pattern. The price reached the previous market top which just so happened to coincide with the top of the channel. The price has tried again to push higher but failed and now looks like a double top and is printing bearish divergence on the RSI. Can they just keep pushing this with QE? I think we all know by now the economy is floating on a debt time bomb. Australia's housing market is one of the biggest bubbles out there which has been fueled through terrible financial practices. I think this economy is going Down Under! Bearish on stralia.
OANDA:AU200AUDShort
by WickHunter
ASX: Australian stocks in need of a stronger pull back.The Australian stock market (AXJO) is currently rising after a strong pull back that took place in July. This rejection happened because the market reached its All Time Highs of October 2007. Despite the rather strong selling manner in which it was conducted, we believe that this sell sequence is not over yet and a stronger correction is needed. The reason for this perspective is that the very same long term pattern on the 1W time-frame has been spotted back in 1994, when the ASX again pulled back after testing its (then) All Time High. The selling only stopped when the 1W MA200 came in for support. We are expecting a similar price action and even though the correction on 1994 was more than -20% we expect this time just the 1W MA200 to be enough to support and initiate then next long term bullish leg. Use this pattern according to your own risk tolerance and strategy but this is our approach for the right time to re-enter this market. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
ASX:XJO
by InvestingScope
Possible WSI ASX Long Position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1 - 3 weeks Actions on - A – Activating Event Market will find support in zone @ Current Levels - .... and move to the 0.040 . In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 0.040 ASX:WSI Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 0.040 Target 2 @ .... Risk/Reward @ 1.5.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
ASX:WSILong
by SMPTrader