I'm not normally one for pointing out patterns before they're close to trigger, but this ASX (XJO, AUS200 whichever you follow) has a beautiful H&S pattern emerging having now made a distinct lower high from the 5600 area. It will be interesting to see how it handles the overhead resistance this week but I'll be watching this like a hawk if we see further downside...
After a quite month on the sideline, all my indicators are pointing to LONG. Why? Election is almost finish. MACD is on a BUY Stoch is on a BUY
The trend is now up, and we have a weekly 'Time at mode' signal pointing to 22.59 as the target. Risk is a drop under 19.37. You can buy dips, or speculate on copper, or on FXA or AUDUSD as well. Steel/Iron ore is also looking great, which makes this a sure buy. Shares of X or STLD would be a nice buy as well. Good luck, Ivan Labrie.
Completed Bullish Bat Pattern on the AUS200 Hourly Chart. List of confluence Trend line is holding really strong Double/Tripple bottom shows strong support Pattern is completed at 886 and quickly bounced. Hourly Candle shows strong buyers/bull
RESISTANCE AREA AT 5674 SHOULD PUSH BACK PRICE FROM THAT LEVEL. THERE ARE A NUMBER OF PLACES ON THE CART WHERE PRICE WAS RESISTANCE AND BECAME SUPPORT AFTER THAT. PLACE A SELL LIMIT AT 5674. STOP LOSS IS 5803.
AUS200 testing strong zone 5430-5462, Watch out for bearish evidence and a potential move to the downside from this major zone.(target 5180). Happy Trading
The month of August was a sell off market, and September have dropped Monday all the way to 5150. But now, with 2 technical analysis confirmation, I am confident in going Long, aiming the 5600. Things to have in mind during September" 1. SUPER Thrusday 22nd of September, the USD FOMC rate decision, expect a lot of volatility, and secure your positions....
AUS200 Safe Trades;
See chart for description on what I see
Reason for Entry as described in the chart.
Its been 14 days since no one have updated a chart, that could means that everyone is making money. BUT lets get ready for 4-5 weeks of volatility with the Australia reporting season kicking off on Wednesday. I am still long from 5420 , aiming at 5800 by the end of the year. Here is a link to the days each big company will be reporting. www.commsec.com.au Here...
Last Down Wave Possible before reversal expected. Short the Breakout from Triangle Downside Target 1 : 1.03129 SL: 1.054
This is not good, time to exit my long position, and wait for a Retest at 5238 or 5129. or USA Interest Rate on July 26-27. But I will go back long, if it breaks 5420
Still waiting on a decision on who is going to be the next PM, it have been 5 days since the election finished. Expect huge rally after the announcement of the PM This is the same Graph from MAY, still holding on to my trend line I Bought in last week at 5086 with target 5445
Still the same chart from last week.
Just a follow up on my chart of which I entered LONG at 5086 on Monday. I have posted this same chart 3 times now and I have not been wrong. Next Monday we will have a New prime Minister in Australia, expect the Market to jump back all the way to 5400 Good luck trading.
Possible selling opportunity from the Daily supply zone above marked above current price. If prices does fall from the zone, there is no opposing demand till roughly 500 pips away