Timonrosso

AU200 Showing strong upside to 8,414 with a warning

Long
OANDA:AU200AUD   Australia 200
Reverse C&H formed on the AU200.
We had a very weak break above the neckline showing the bulls are not as strong as they ought to be.
This comes with a Warning because if you zoom out you'll see an even larger Box formation (range traded area).
One can place a stop loss but I would put it below the entire C&H to stop the chop.
7>21>200
RSI>50
Target 8,414

SMC
SSl Order Block below the Box Formation and Rev Cup and Handle where SM comes in and sweeps Sell Side Liquidity from Long traders who get stopped and shorters who went short.

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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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