Captain_Walker

AUS200: NO SLEEP - POPCORN AND PIZZA TONIGHT!

GLOBALPRIME:AUS200   SPI200 Cash CFD
No sleep for me tonight - and I'll be feeding on popcorn and beer! πŸ€£πŸ˜‚ Maybe a pizza or two. πŸ•πŸ•

The set up here looks like a good short coming up. (Note the brutal disclaimers).

1. There is big trouble with Chinatown all over the world. Something about China banning shares on some American exchange - or something like that. The Dragon Index took a nose dive, and that reverberated into the Tech100. (See snapshot below - and check the news).
2. The Aussies are usually delayed in reacting. I don't know why. Maybe they're asleep due to some time zone effect when the action has happened. The current reaction is slow, on one 4H candle but the price action is better seen on 5 to 15 min time frames.
3. What happens with the Aussies - and I've seen it too many times - is that they wake up and go "OMG!" Then they panic buy or sell.
4. Normally the big action starts around 00:30 to 01:00 UK local time. As the Aussies open their exchange fully, there is usually some serious price action on 5 to 15 min time frames. Usually if sudden movement happens in that half-hour that sets the stage for what'll happen next in terms of direction - but expect big whipsaws between 00:30 and 02:00 AM. Whipsaws are nice if you know what you're doing. If you don't stay out!
5. The Aussie track both Tech and DJI for sense of direction. Well, as USTech has been clobbered, I expect the Aussies to run scared. Hello - I could always be wrong. This is shared experience - not advice!
The smartest people so far are the Germans. The DAX took a pump south already. Now they're consolidating and thinking what to do next.

Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
Comment:
Comment: It was a lovely sleepless night! Thankfully there are many more ahead! LOL. I'll catch up on sleep on the weekends. πŸ€£πŸ˜‚
FED balance sheet 42% of GDP @ 2020-01-26. Does money have value anymore? [Different perspective on the virus https://youtu.be/NjTdvALChwk ]

Comments

Fair play, looks like a cracking short.
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@Lorreo, Go for much smaller time frames if shorting. See example of 3 min time frame below.



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