Unity-Trading-Group

ALL ORDINARIES – An Expected Move

Short
ASX:XAO   ALL ORDINARIES
Been speaking about this Index Heavily, this movement is to be expected & I’ll explain why.

- This Demand Zone that we are moving through today was a 4H Demand Zone , it was Low Quality, meaning there is levels underneath it that are formed on Market Pivots , which yield Higher Quality Demand Zones
- There are a number of Levels in the way of the Main Demand Zone at 5700
- Most notably the 23.6% Fibonacci Level, this area lines up nicely with liquidity to the left where we have multiple respected daily candles & wicks
- This would be the most logical High Timeframe level to look towards, which the 23.6% Fibonacci Level acting as nice support for XAO .
- We’ve got a decent amount of room on the indicators, Steamroller, CCI & RSI to facilitate a move in that direction also.
- Our in-house developed Unicon Indicator was telling us there was an increasing bearish bias forming at the 6250 level ( Orange Arrow) and that is being maintained with this break of the Demand Level .

Looking towards that 23.6% Fibonacci Level in the immediate term.

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