I'm no charting expert however this seems glaringly obvious. Formation of a triangle squeezing price for the next bar or two and there should be some movement, in this case I'm predicting movement upwards. Keep an eye on volume, if there is more than avg volume it solidifies the upward trend in the short term. Disclaimer: I entered approx Nov 2022 at AUD 24 and...
ASX 200 - Westpac descending triangle breakout. High probably pattern. Target is set at 21.60. STO is low so entry price between 22.60 and 22.90. Expect levels around the 20.60 level as a take profit. Volume: pretty low showing lack of support. RSI: The new low has been confirmed by a new RSI low of 34. STO: STO is low so it may be possible to enter a little...
ENTRY: 20.70 SL: 21.52 TP: 20.22 - ADX<25. Would like to be higher. - Daily RS +ve - Daily FFI +ve - Weekly RS -ve - Weekly FFI +ve - Moving averages are aligned. - Price breakdown from uptrend line on 26 Sep 2022. - Entry based on today breakdown from previous low (20.78) and >3% rebound off 10EMA but would like volume to be higher.
WBC TA. Ride the wave. Don't be in hurry to buy and not too late too.
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...
30 year trend broken in March. Not sure if we retest March lows, but at least another 5%-10% to go
Probably it will take some time to recover. I think it will be a good opportunity to buy at $16.98 and sell at around $18.50. P.S: Please note these are my own notes for future reference and by no means trading advise to anyone. Please do your own research before entering into any trade.
There are so many reasons to go long on WBC here. Just a few: At this price WBC is massively undervalued. WBC just broke above its local trend. WBC pays huge dividends. Australia has beaten COVID-19. Get on it doggon it
westpac bank has been completely gutted buy the covid19 mania.... literally feels like 2002 out here ........... gonna catch a long on this soon but no indication of reversal yet
Westpac getting close to a critical level and if we go below the yellow line, we could assume that was a dead cat bounce and Westpac is heading back sub $24.
WBC has had a nice rally upwards after hitting support but now we see a big hurdle for WBC which is the .618 fib zone.
Having formed the inverted H & S pattern NAB is consolidating the breakout and has the potential to move higher. WBC and NAB could easily share the same chart as the price action is virtually identical. An inverted H & S pattern is not very reliable and this is not investment/financial advice.
$WBC Westpac LT H&S forming but ST near completion. Risk of spiral down