$APT.ax possible short term resistance with chnl resis further away
ASX200 has broken out of a bullish flag pattern.
The ASX has created a head and shoulders pattern and is capped by a negative trend line. This provides opportunity to sell with a stop loss above 6210 and the target area of 6140.
It has completed a retracement back up to 6274 (0.886% fib level) of the move down from 30/08/2018 to 21/12/2018. It is now forming a H & S pattern on the 4 hour chart. Watch for a break of the neckline on bearish sentiment or a bounce back up if the neckline holds. Current RSI below 50
Not much evidence to suggest we can break above these ranges. Could be trading within them for several months.
ASX200 is currently correcting to its local support off the back of an overextended bullish move and collapsing stochastics. The most probable event is we see price retest local support, before a pause for consolidation and then a break lower towards major support. We expect major support to hold for long entry, provided the world macro environment stays stable,...
The ASX has formed a shooting star on the weekly candles. We are now awaiting confirmation, this weeks candle will need to decline and close below last weeks candle. We can then look for targets of 6100 and 6000.
After falls in the index in the last quarter of 2018, we have see a rally back into the sell zone(87.5% fib). My target would be around the 5000 handle, which is nearthe 75% fib level on the monthly chart . This area is where the bulls should turn up, as the index is in a very strong bullish trend on the monthly chart.
Not much more to say . tough entry buying a breakout , safest would be to wait for the breakout higher and buy first pullback/retest of the breakout levels around 69ish.
Completion of reporting season which followed after the financial sector royal commission. Will start to see profits taken from this months small rally before a second chance of accumulation will present to target the prior top
- A relentless push to the upside, from a near perfect tweezer bottom - At a critical level of Supply now, indicators are near topped out also - RSI at 73 and the MACD histogram starting to dwindle, it would seem a reversal, or even a significant enough pullback is due - Swing low to high reveals our Fibonacci Retracement levels for possible moves in price.
Looking at the ASX on the monthly chart Seems like a never ending 10 year bull market *Years calculated since last retrace in 2008 to current 2019 is 11 years. We are coming to the end of another 10 year market cycle (or GFC) *I've added an AB=CD (in blue) to price to project where D will end. I've also cloned price for a better visual. *Target objective is...
SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1-2 Weeks Actions on - A – Activating Event Market will meet resistance in zone @68.90 - ..... and fall to @ 58.00. In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 58.00 ASX:ASX...
This company has a high Price to Earnings ratio (33.72) relative to the sector (15.18). However, this can be explained as the stock is very strong fundamentally. Newcrest has a very low debt to equity ratio (26.7%) for the size of the company (17.498bn). We can compare this to ASX:ASL Ausdrill, another gold company that closely tracks the global spot price of...
I am expecting current levels are suitable for sell and for short position. I am very pessimistic about the global stock markets, and thinking that this asset bubble will burst soon. So you need to protect yourself from coming crash.
ASX is approaching our first support at 5807 (61.8% fibonacci extension, 23.6% fibonacci retracement, horizontal pullback support) and a strong bounce might occur below this level pushing price up to our major resistance at 5928(61.8% fibonacci retracement, horizontal swing high resistance). Stochastic (89,5,3) is also approaching support and we might see a...
KGN BULLISH CLOUD BREAK TRADE - ICHIMOKU CLOUD. - FOLLOW THE RULES EACH TIME AND LETS WATCH IT UNFOLD. -- ICHIMOKU TRADING SYSTEM MOMENTUM BASED TRADE --- ENTRY $4.60 -. NO TARGET LETTING IT RUN AND EXIT ON KIJUN SEN BREAK OR FRACTAL BREAK. -- MY STOP LOSS IS JUST BELOW TOP OF THE CLOUD. - WILL UPDATE AS IT PROGRESSES. CHEERS *NOT TRADING ADVICE TO BE...
ASX is approaching our first resistance at 5838 (100% fibonacci extension, 78.6% fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 5601 (50% fibonacci retracement, 61.8% fibonacci extension). Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price should it...