ASX bounced nicely off our first support level at 5390 (61.8% fibonacci extension , horizontal swing low support) where a further rise might occur above this level pushing price up to our major resistance at 5894 (50% fibonacci retracement, Horizontal swing high resistance). Stochastic (21,5,3) is also bounced off support where we might see a further rise in price.
ASX bounced nicely off our first support level at 5390 (61.8% fibonacci extension , horizontal swing low support) where a further rise might occur above this level pushing price up to our major resistance at 5861 (50% fibonacci retracement , Horizontal swing high resistance). Stochastic (21,5,3) is also bounced off support where we might see a further rise in price.
ASX bounced nicely off our first support level at 5390 (61.8% fibonacci extension , horizontal swing low support) where a further rise might occur above this level pushing price up to our major resistance at 5861 (50% fibonacci retracement , Horizontal swing high resistance). Stochastic (21,5,3) is also bounced off support where we might see a further...
AU200AUD Trading Bias: Long *Technical Strategy* Falling Wedge at Support level --> Wait for break and close of falling wedge otherwise no trade <--
ASX is approaching our first support at 5586 (horizontal overlap support, 61.8%, 100% Fibonacci extension , 50% Fibonacci retracement ) where a strong bounce might occur pushing price up to our major resistance at 5908 (horizontal swing high resistance, 38.2% Fibonacci retracement ). Stochastic (89,5,3) is also approaching support and we might see a corresponding...
AUS200AUD Trading Bias: Long Technical Strategy: Inverted Head and Shoulders Wait for strong break and close above neckline
Trading Bias: Neutral Technical Strategy: Fibonacci projections + Support and Resistance calculations to determine future price action. Chart Pattern: Inverse Head and Shoulders
Near 5922 I will open a Sell I think the price will continue down move because long-term trend is broken and turned into a bearish month ago. Also, on the chart, we can see how the price bounced so many times from key level 5943 on Daily chart. It's the best signal that big players protect that level and near that level, we have a low and predictable risk....
FUNDAMENTALLY, AUSTRALIA ECONOMY ISNT BAD AS EMPLOYMENT STATISTIC JUST RELEASED WHICH SUPRISED A LOT OF PEOPLE. TECHNICALLY, IF THIS INDICE STAYS ABOVE 6000, WE WILL REMAIN BULLISH
ASX 200 started a new five Elliott wave structure after the completion of correction in Februrary 2009. It has since completed four waves on a monthly scale and is now running upwards in its fifth wave which is likely to terminate around 6800 and go down to around 4500. Why do I think so? If we zoom in in the period from February 2016 when the fifth wave...
ASX is approaching our first major resistance at 5885.8 (horizontal pullback resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension). A strong drop might occur below this level, pushing price down to our major support at 5692.5 (horizontal swing low support). Stochastic (89,5,3) is also approaching our major resistance and is seeing a bearish...
AUS200 is now testing major resistance at 6072 (Fibonacci retracement, bearish harmonic formation, horizontal swing high resistance) and a strong drop could occur at this level to push price down to 6008 support (Fibonacci retracement, horizontal swing low support). We have to watch our for intermediate support at 6034 too (Fibonacci retracement, horizontal...
*not a trade call* looking for a short till the bottom and long once it reaches the bottom. Shall update as it progresses