Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in AUS200.
Trend Analysis
The main view of this trade idea is on the 1-Hour chart. AUS200 has been in a rangebound move and is expected to breakout in the short to medium term. Based on the market profile, the range is between 7255 and 7325.
Technical Indicators
AUS200 recently crossed above its short (25-SMA), medium (75-SMA) and fractal moving averages and it is currently at the middle of the range. The RSI is above 50 and is heading higher. Moreover, the KST confirmed bullish move with a positive crossover.
Recommendation
The recommendation will be to go long at market. At the time of publishing AUS200 is trading around 7293. The medium-term target price is observed around the 7400 price level. A stop loss is set at 7200.
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in AUS200.
Trend Analysis
The main view of this trade idea is on the 1-Hour chart. AUS200 has been in a rangebound move and is expected to breakout in the short to medium term. Based on the market profile, the range is between 7255 and 7325.
Technical Indicators
AUS200 recently crossed above its short (25-SMA), medium (75-SMA) and fractal moving averages and it is currently at the middle of the range. The RSI is above 50 and is heading higher. Moreover, the KST confirmed bullish move with a positive crossover.
Recommendation
The recommendation will be to go long at market. At the time of publishing AUS200 is trading around 7293. The medium-term target price is observed around the 7400 price level. A stop loss is set at 7200.
Trade closed: stop reached:
Close: stop reached.