AUS200 trade ideas
$XJO, promising future aheadCharting is really in the eyes of beholder, there is no fix rule to say how the price must comform to our opinions/preferences.
1. i will start the charting with a channel where the past 3 years of price movement being localizing around the MEDIAN line of the channel.
This charting is so macro that whatever event in the past and future have been factored in
I foresee (in my own humble opinion) that in next 6-12 months, ASX 200 index will be able to break above the resistance of around 7645 to propel higher in the upper section of the channel resistance
Next immediate target in 2-4 years will be around 8845.
*and i have to factored in the potential flash crash to wash up the weak bull in short term before it springs back up
Next Chart will show another way of drawing my channel
Will ASX find buyers at market?ASX200 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
A lower correction is expected.
The bias is still for higher levels and we look for any dips to be limited.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
We look to Buy at 7410 (stop at 7370)
Our profit targets will be 7510 and 7540
Resistance: 7600 / 7800 / 7910
Support: 7400 / 7315 / 7200
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
AUS200 SellI normally wouldn't trade this instrument, but as I was watching a trading program they had mentioned and shown this chart as a potential sell setup. I decided to pull the chart up and analyze it and before you know it, I was planning my short position.
Initially, resistance had been initiated by a shooting star candle on March 7 of this year and then was tested and confirmed various times after that (between April 12 - June 20). Today, there was another successful test and rejection reconfirming resistance yet again. I'm now short with my stop above the highest retest high (April 17) and I am looking for a potential first target at the 7000 area. Very simple and straightforward. Let's see how it plays out.
ASX200 Review...Where to from here?A look at the price action for the Australian ASX200 Index.
The recent price action has been very choppy and directionless leaving both bulls and bears scratching their heads. I expect that this uncertain theme will continue in the short term with the mid to longer term action largely range bound.
In the short term, I expect to see a swing lower and if recent price action is any indication, we will see the recent low taken out. This suggests a 4% move lower from current levels around 7260.
If we see the Global macro environment deteriorate, I expect to see share prices across the board come under pressure.
ASXA new day .. new analysis .. right?
Today we look at ASX, which is in the Australian market index.
Price was moving inside his trading range, but recently, there has been a strong candle in the downward movement.
Look how easily the price is coming down but going up takes some time.
Now the price broke the support, but we are in the sold area in RSI .. so the price has to come up and acquire more liquidity and then continue going down. Here is what we can expect.
PS - price choose the second scenario, and now we are waiting for the signal to enter sell positions ..leave your thoughts and comments and let's see your opinion.
set to open marginally higher Australian shares are set to open marginally higher on Tuesday, likely boosted by gold and mining stocks on the back of strong underlying prices, while investors exercised caution ahead of a key U.S. inflation reading later in the week.
The local share price index futures (YAPcm1) rose 0.6%, a 2.0-point premium to the underlying S&P/ASX 200 index
XJO
close. The benchmark fell 0.5% on Monday.
ASX to see a temporary move higher?ASX200 - 24h expiry
Buying pressure from resulted in prices rejecting the dip.
The current move higher is expected to continue.
Short term bias has turned negative.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although we prefer to sell into rallies close to the 7190 level.
We look to Sell at 7190 (stop at 7230)
Our profit targets will be 7070 and 7010
Resistance: 7215 / 7305 / 7435
Support: 7010 / 6825 / 6660
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
The swing low could be in for the ASX 200 (XJO)The ASX 200 suffered its worst day in 10-week on the final day of May, thanks to weak China PMIs and month-end flows. The first day of June posted a very minor (almost sheepish) gain, but with a positive lead from Wall Street and SPI futures higher by ~0.66% overnight, the ASX is expected to extend its rise from the lows.
The fact that the lows formed around a 61.8% Fibonacci ratio 7070 support level alongside a bullish RSI divergence could bode well for bulls over the near-term. From here the bias is bullish above last week's low and for a move to the 7200 area, within the channel. But as the channel appears to be corrective in nature then we also see the potential for it to head for (and break above) the 7300 highs.
But as we're a period of the year notorious for fickle price action and lower trading volumes, traders might be wise to remain nimble and seek smaller moves unless a large macro theme arrives worthy of expecting broad-range expansion for global markets.
ASX to find sellers at trend line?ASX200 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
The hourly chart technicals suggests further upside before the downtrend returns.
We look to sell rallies.
We look to Sell at 7220 (stop at 7270)
Our profit targets will be 7095 and 7065
Resistance: 7305 / 7435 / 7600
Support: 7120 / 7010 / 6825
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
ASX in a trend of lower highs.ASX200 - 24h expiry - We look to Sell at 7210 (stop at 7260)
Posted a Double Bottom formation.
Neckline comes in at 7133.
We are trading at overbought extremes.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
The 200 day moving average should provide resistance at 7210.
Our profit targets will be 7085 and 7010
Resistance: 7215 / 7435 / 7600
Support: 7010 / 6825 / 6660
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.