Technician
Short

S&P/ASX: Bearish Australia!

FX:AUS200   S&P/ASX Index
1094 16 17
I believe the S&P/ASX200 is set for a major setback. Especially if the index closes this week below 5475. Lets see how it goes, i will keep updating.

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My best regards,
Technician

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
I teach my experience conclusions in 10+ trading strategies. PM me for details and cost.
First target
+1 Reply
thanks
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Did you re-enter the trade?
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Technician HamedAghajani
No buddy, i didn't unfortunately...
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Are we heading to targets on this one guys?
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Hi. I believe so. Australia is behaving very differently from European and American Indices. But it looks like it is resuming the bearish trend.
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Closed my short at 5380
+1 Reply
Seems like another good call here.
Reply
Technician Casey_Yeo
:).. Still target is pretty far, you know, markets winners could turn to a losers quickly.. but lets hope not.
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Casey_Yeo Technician
I definitely know that! All my trades suffered that fate last week. :D
Good luck on this trade mate!
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