ASX - Downward Pressure Resumes - Look Out BelowDue to a decisive break out of the channel it can be assumed that the wave II correction is over and we should expect wave III to commence.
It appears that the ending diagonal in wave II ended on the 17th of April.
A break below the start of wave i or 5070 should confirm this.
A stop should be placed above 5599.
XJO trade ideas
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
XJO and the BOTH SITES.As we can see, we don't have a really clear entry yet, but anyway we will wait for it! if this wedge decides to break for downside we will wait the retest in the demand zone to make the best entry, the same in the topside so be focused and put some alarms in the both possibilities