ThinkingAntsOk

Trade Idea on AU200 (ASX) by ThinkingAntsOk

OANDA:AU200AUD   Australia 200
Main items we can see on the chart

a) The price is on an ascending Wedge

b) Currently, we can observe a clear corrective Structure (Yellow lines)

c) The next resistance zone we have is a weekly one (light blue rectangle )

d) Based on the technical elements we have our conclusion is: If the price breaks above the corrective Structure, that will give us a high-quality scenario for long trades towards the next resistance zone

e) The Risk-Reward Ratio of this trade is 1 : 2

f) We will move our stop to break even at 6200.00


WEEKLY CHART: (Understanding why we choose that target)
Thinking Ants.
A platform entirely created to improve Traders development.

https://www.thinkingants.com/

Comments

great setups today. thank you for the heads-up.
Reply
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