HELLO GUYS THIS MY IDEA 💡ABOUT AU200 is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the Seller from this area will be defend this SHORT position..
and when the price come back to this area, strong SELLER will be push down the market again..
DOWNTREND + Support from the past + Strong volume area is my mainly reason for...
ASX200 - Intraday - We look to Buy at 6785 (stop at 6715)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
We are trading at oversold extremes.
Buying at market offers good risk to reward ratio.
Preferred trade is to buy on dips.
Our profit targets will be 6980 and 7020
Resistance: 7020 / 7160 /...
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Have...
AU200 has reached .382 from th large swing.
It looks oversold and has also reached a 1.272 ext and a 2 from previous swings.
The target would be the .382 of the last swing lower.
We can look for some buying that may be the beginning of a short reversal. There's not enough buying just yet but we should keep an eye on this.....
Let's begin with the monthly - we can see the market has aggressively rejected the top of trend line after creating new all-time high at 7600 zone.
The Strong support is down at 6800 zone - previous all time high.
The monthly suggests we may see more selling.
AU200 has made the top of 7650 and recently retest it, making double top pattern.
Double Top usually considered as a bearish sign and the said instrument shift its trend from bullish to bearish.
Currently AU200 is likely to be in distribution phase and its base support lie on 7130. If this horizontal level is taken out, bears will be active in it and the...
AU 200 has just completed an expanding triangle at the 5 count.
We are also at support and we can see failures to make new lows.
We should look to go long here.
If we aim for the 1.272 our target would be at the 7789 mark, there will be bumps along the way!
No clear direction yet for the Au200 although Higher time frame trend remains bullish but price is trapped into a consolidation phase. Needs to break to either side in order for a possible trade opportunity to be given.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in AUS200.
Trend Analysis
The main...
Purple = weekly
Blue = Monthly
Orange = Daily
Hello Traders and Analysts,
The following analysis will be in depth to explain the out look of the Index and
Based on what merit?
Being a commodity based currency we need to analyse the US and commodities as Australia a produce of raw materials.
The Australian economy is commodity based but also well suited to...
When we look around the world, it often feels like the sky is falling if you tune into financial media. Well here, we look at the charts and see if we can find trends. We have a new breakout in an important commodity economy. Australia! Let’s have a look at the chart.
So here we have Australia going nowhere since June. Tons of failed breakouts with the wicks not...
In my opinion, at least. Could have one more wave down but it looks pinned to this high timeframe level that has been a key mirror level in the past. A break could send it soaring.
![XJO: Australia [ASX 200] - 2021 weekly chart](https://s3.tradingview.com/a/aKwy4cPT_mid.png "Australia [ASX 200] - 2021 weekly chart")
