FX:AUS200   S&P/ASX index of Australian listed shares
1089 16 15
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
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Related Ideas

lpernetta PRO
2 years ago
I agree and I believe it is not the only one. The S&P500, e-Mini and Dow are starting to show signs of weakness as well. 4xforeaster (David) published an idea for a possible crash of the Japan 225 to a 2000 value index.
If true, markets are in for a ride not just a small / regular retracement.
Reply
jonatsgonats lpernetta
2 years ago
But but but but QE infinity? Waaaaaaah. Kidding aside, Australia and Germany may be the reality of markets but those with infinite QE will have a hard time pulling back.... US has banks buying treasuries, Japan has QE All In
+1 Reply
lpernetta PRO jonatsgonats
2 years ago
The issue with QE is that when everyone does it, it ends up having no real purpose/real result whatsoever while maintaining the underlying problems. When BoJ announced a surprised QE a few days ago, all comments were on Draghi and his need to do more than what he had announced as well. Constantly giving more and more sweets to children only makes them fatter. However you cannot keep giving sweets. When you stop because you cannot afford it, you end up with a major crash.
Reply
The trade is active
+1 Reply
RobTaylorForex
2 years ago
Technician... You are a genius, a humble genius... So many good calls I can't count, I just know when you post something there is probably a 90% chance you'll be right. Thanks for sharing all your ideas, I always look forward to new ones!
+1 Reply
Technician TOP RobTaylorForex
2 years ago
Thans kind of you, I really appreciate those kind words.
+1 Reply
Casey_Yeo
2 years ago
Seems like another good call here.
Reply
Technician TOP Casey_Yeo
2 years ago
:).. Still target is pretty far, you know, markets winners could turn to a losers quickly.. but lets hope not.
Reply
Casey_Yeo Technician
2 years ago
I definitely know that! All my trades suffered that fate last week. :D
Good luck on this trade mate!
Reply
Closed my short at 5380
+1 Reply
Are we heading to targets on this one guys?
Reply
HamedAghajani PRO Technician
2 years ago
Hi. I believe so. Australia is behaving very differently from European and American Indices. But it looks like it is resuming the bearish trend.
Reply
First target
+1 Reply
manijeh.kazemi.33 Technician
2 years ago
thanks
Reply
HamedAghajani PRO Technician
2 years ago
Did you re-enter the trade?
Reply
Technician TOP HamedAghajani
2 years ago
No buddy, i didn't unfortunately...
Reply
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