ASX200 breakout build-upASX200 pricing within a range.
This is generally a really good indication of a potential strong build-up for a breakout.
Watch out for any fake moves and find opportunities to follow the trend.
AUSTRALIA200CFD trade ideas
19/06/2020Today market moved as expected, we have recently changed environment by making lower lows compared to recent moves. A W formation was created on the 4 hourly between the 12th and the 16th. I really want to see the market close on either the 0.382 FIB or preferably the 0.5 FIB which would provide strong confluence and support at this level. I will watch closely around the 0.382 to see if there is a shift in market sentiment and the rally will continue to make higher lows and higher highs. The wick from the first half of today I expect to get filled in the next day or two. 3855 would be ideal for me to feel safe to hold long term from here. DYOR, all IMO.
6497 - A possibility if the 0.382 FIB is the only once reached.
AU200AUD 2nd Elliot Wave Symmetrical Triangle PatternMy first target has been hit and its looking like another symmetrical triangle pattern may be forming. Price remains bullish over the 20dma and 50dma. This is a good place for consolidation under the 200dma to store enough energy to break through. There is a gap that isn't shown on this chart in the general target zone to be filled as well.
Next entry for stocksImpulse, correction, hope to see it come back to the 0.5 FIB. Also close the neckline of the W formation. IMO, DYOR.
R.I.P Australian Economy. - ASX forming evening star on daily.Can the governments prevent the asx from falling? that is the real question.
Bears are in control.
Crash 2.0 incoming, unless they fire up the money printers.
REFER TO WALL STREET CHEAT SHEET
XJO - Updated EW count XJO is in 5th wave of down cycle. It has completed WXY corrective up cycle from major bottom in 2 hr time frame. The drop from last swing high in 30 min time frame is impulse and within its 5th wave. In futures of XJO it dropped in A impulse wave down, which is not still confirmed in XJO Index. Wait for little more price action, which decides the next correction. In futures it made new low and getting divergence in indicator too. Will see how it moves in Index now.
AUS200 Long Baby!Area of confluence on 4hr D and W tf. Look for the setup at 9-12 utc+10 tmrw.15m chart
AUS200 buy limit pendingThe image explains it. AUS economy making a strong recovery, RBA maintaining economic conditions and will be responsive going forward. Not currently seeing AUD strength as an issue.
AUS200 retraceafter a long awaited breakdown in bullish pressure, expect more downside as negative sentiment clouds the market
XJO end of 13/06/2020. Opening green next weekFinally, a pullback we've been waiting for.
XJO was running way too fast and pullbacks are healthy in the long term. The pullback came right at the 0.618 FIB level.
Tested the 200MA and will be interesting to see if we hold the 200MA next week.
RSI is still relatively overbought but as the pullback was so sharp, I expect a green day on 16/06/2020 Monday.
Apart from the technicals, other reasons for the pullback include
1. Fears of 2nd wave
2. End of financial year profit-taking
3. Federal reserve grim outlook
4. Riots
Next week will be a decisive week in determining which direction the market is headed. The overall sentiment is optimistic but the market does not care.
Next bullish target is 6380 level.
All the best if you went Long on Friday on short-medium term positions.
My Bearish view of ASX200 and When to enter for the Long Term.For those that use the "Fib Speed Resistance Fan", our XJO hit 0.25 and retraced.
Could we retrace back to the 0.382 in the coming days/weeks?
Also, I wish I have found this earlier!! This has correctly forecasted the support line during the March lows.
Furthermore, a good entry point for investing in the long term is when the " William R" is below the yellow and is rising from the bottom.
The last three times this has picked the bottom!
I will be watching these indicators at the next sell-off.
ASX 200After smashing through resistance and the key 6000 level a few days ago, XJO touched the long term upward sloping trend line beginning March 2009, before quickly falling back below 6000 and back below support and subsequently bouncinb off 0.218 fib level
Few key levels to watch but prefer a downside bias here.
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
The trend is your friend, Go Long until this breaks $XJO ASX200The trend is your friend,
Our stock market dropped because we hit the top of this regression channel again.
Yesterday, I said I am expecting a pullback back to 5700-5800. It happened.
I am staying bullish until this channel fails.
