ASX200 trade ideas
XJO - no time to panicThe ASX has just broken its ATH on Monday at 7172 (although I'm told if you add in dividends, we're actually quite a bit higher). However, the moves today (and likely tomorrow judging by the US futures), will likely cause some concerns amongst traders. Its a relatively big move (at least for the last couple of months), but in the scheme of things, today is just 1% down.
From what I'm seeing the XJO just slightly above Monday open and around the high point of Friday. Nothing to worry about here.
In addition, the overall trend is still up and the Bollinger bands are starting to expand again after tightening last week.
TO me the ASX actually looks like it has broken out from a range it was stuck in over most of April, this could just be profit taking or a pullback after a big move yesterday. Although I suspect that it's entirely being driven out of fear arising from the US Markets.
All in all, I think these are pretty bullish markers currently.
I'm watching it closely and I think the telling point will be if the 50 day MA is breached at around 6900.
Anyway, happy trading and if you like this post, check out my blog at www.nickthetraderguy.com.
Cheers,
Nick the Trader Guy
Possible AUSSIE 200 fractal. Might not happen, but this fractal is just a much larger version of the start of the 2010 bull run. More dollar printing ahead. People jumping into equities as there's no incentive holding money in the bank. Just a theory, but interesting to see if it plays out.
AU200AUDAU200AUD look at the caption on the previous post.....same topic, but that video had no audio....this video has audio.
AU200 Final chapter on COILS5.10.21 AU200 Final chapter on COILS: I look at patterns, overall market dynamics (admittedly a vague term), structure, and certain tools that I think of as algorithms of the market...and then I have to make a trade decision: buyer? seller? sit on my hands? I am a discretionary trader using market information ( maybe most of us are to various degrees ). Two different trades could use the same tools ( more or less ), trade the same market and make money: one as a buyer and the other as a seller. All the would need is a different trade location. There is a little more to this, but hopefully you get the idea. THIS IS A GOOD REVIEW OF COILS. I would like to add 2 more things to the video: 1) this was not an easy market to trade because it did NOT have good volatility...and that is why this was a laborious process complicated by lots of "work". In a volatile, I find it much easier to analyze and have a better sense of probability. 2) my explanation on this example is of a market that is expanding out of a coil...which means the market could evolve into an easier market to trade. Always think like a buyer AND a seller, and then decide where you have the edge. You cannot trade what you see if you do not know what you are looking at. You are trading in a market of buyers and sellers...and some of those traders are the "smart money" and some of them are the fast money.
Aussie 200 short term sell setupNeeds a 3rd corrective wave down to complete the flat before more upside. Excellent R:R from here. GL :)
AU200 - SHORT > LONGAny form of support is greatly appreciated and helps motivate to publish more ideas for the community.
OANDA:AU200AUD
Important Price: 7040.6
We want to see price move away from this, confirming our move down to 7005.5 . After we see this move happen, purely from a price action perspective we're able to determine a further sell off or SHORT.
What do we need to keep an eye on?
Pay close attention between 7040.6 and 7005.5 as these prices will help us in staying in a short until Target #1 and Target #2.
Target #1 6918.8
Target #2 6818.9
AUS200, sellHow to use TP!
When the order price breaks down Tp1,
you wait for Tp2 and SL moves to Tp1,
so as to secure earnings.
So with Tp2 to Tp3.
When we publish the closing of a position, you close it.
When the order comes to SL, always
consult with us, do not close the order.
Follow your open positions!
Sell in MAY and go away? ASX 200Looking at this monthly chart the price of the ASX 200 INDEX shows we could have a drop in the market for a few months at least starting in May.
The supertrend monthly is down and the price will have to fight at as resistance if it wants to move higher. However historically it has been rejected and a drop lower occurred before it actually climbed over it.
I have circled the area of the 2008 crash as the comparison is similar. The drop happened and the climb was fast until it was near the supertrend and it tested it twice before the market went lower. It actually took 5 years before the market was higher. I believe we are in a similar boat now.
Aussie 200 one more push upPutting in a corrective structure for more upside. Should retest ~7200 (pre-covid ATH).
looks like its down from here As you can see the XJO index is in a rising wedge this is a bearish patten and looking to brake down target is 5800
ASX possible directionMy analysis suggests that we might have a somewhat bullish short term outlook and then short might become possible.
XJO Breakout and scale inMonths of consolidation on the 1d/4hr xjo breaking Apr 6. missed opportunity to go long and add. There was a lot of bearish talk recently but here you go the xjo is moving up for now. see if the weekly chart follows. interesting to note the US E-Mini broke roughly 5 days earlier on the daily. Stalking a few setups within the index so we'll see what happens
AUS200, sellHow to use TP!
When the order price breaks down Tp1,
you wait for Tp2 and SL moves to Tp1,
so as to secure earnings.
So with Tp2 to Tp3.
When we publish the closing of a position, you close it.
When the order comes to SL, always
consult with us, do not close the order.
Follow your open positions!
AUS200: Possible triple topThis one to watch. For new traders its a nice one to try out on a Tradingview paper trading account.
The possible triple top is into a zone of congestion. Price may go up or it may go down - only two directions here.
All you can do is take a controlled affordable loss (aka stoploss).
This is positional play for finding a trend south on a lower time frame.
Disclaimers : This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions and not intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which has a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
