ASX200 daily- Rising Wedge + Failed to break 38.2% Fib retracement. According to Thomas Bulkowski "Rising Wedges, especially for downward breakouts, are some of the worst performing chart patterns. Downward breakouts have an unacceptably high failure rate and small post breakout declines. Also, throwbacks and pullbacks occur 72% of the time." Breakout for...
ASX200 Daily fails twice to clear 38.2% Fib Retracement. Also, only completed 1 of three parts of 1-2-3 trend reversal requirement. Time will tell if the 2 and 3 will be completed.
Seems to me like Australia market is still in an uptrend. But be careful with the never recessing economy because housing market could be a problem. Good Luck
TWIXUSD STW may have chance to go lower. If TWIXUSD cross below the red upward trend line. TWIXUSD STW will go lower and lower.