AUS200 in Bullish Trend
AUS200 is in bullish trend making HHS and HLs. The chart is in upward trend on daily and hourly chart. I have chosen 4H time frame for analysis. There is a bearish divergence along with bullish hidden divergence and hidden divergence is stronger than regular divergence. Also for confluence sake, the SMA of 10, 20 and 50 are in the trend support and the static support is also very strong as it was a strong resistance and SR flip occurred. It is complimenting the trend line. The Fib retracement for downward trend has also exceeded 0.618 level considering the trend to be a weak one for downward movement.
The Signal is:
EP: 8124.86
SL: 7980.71
TP: 8269.01
The Signal is:
EP: 8124.86
SL: 7980.71
TP: 8269.01
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