The ASX Ltd is on a very strong bullish monthly streak having gained over +25% in 2019 alone. It appears to be trading inside a 20 year Channel Up that displays all phases of a Bubble (aggressive rise, blow-off, consolidation) from Higher Low to Higher.
Currently it is near the end of the bullish leg towards a new Higher High (peak) which is projected within...
Australia hasn't suffered from a recession in more than two decades. Its stock market highlights this fact as it has risen 1400 percent since 1999, a feat which no other major equity market in the world is even close to accomplishing.
Hi all,
as you can see on the weekly time frame (also monthly) we are witnessing positive price action for the ASX. Although positive price action is generally celebrated, it needs to be backed up with positive movements in relative strength, which in this case is not happening.
As you will see on the chart published, despite the positive price action we...
Looking at the ASX on the monthly chart
Seems like a never ending 10 year bull market
*Years calculated since last retrace in 2008 to current 2019 is 11 years. We are coming to the end of another 10 year market cycle (or GFC)
*I've added an AB=CD (in blue) to price to project where D will end. I've also cloned price for a better visual.
*Target objective is...
SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe - 1-2 Weeks
Actions on -
A – Activating Event
Market will meet resistance in zone @68.90 - ..... and fall to @ 58.00. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 58.00
ASX:ASX
Trade...
Not much more to say .
tough entry buying a breakout , safest would be to wait for the breakout higher and buy first pullback/retest of the breakout levels around 69ish.
The Australian Stock Market index is looking very bullish, due to the double top pattern forming on the lower timeframes. The higher timeframes also signify a rally, which sets the mood for this trading signal. I would wait to see how rice would react to the 61.50 level, which represents an institutional level, and was also tested previously Then an entry would be...
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - M
Timeframe - 6-12 Months
Actions on -
A – Activating Event
Currency Pair creating a higher second top . Currency pair will move south from current levels to the @40 level
B – Beliefs
Market will be rejected at @current levels and move towards the first Target 1 level @ 40 level.
ASX:ASX
Happy...
We could see a potential sell trade close to the resistance, which has been tested in the past from both sides. After that, price may continue in it's rally by bouncing of the ascending trendline, and going further up as shown. The price has already broken descending channel and therefore we just wait for a retest and then buy the market
hey guys,
I'm forecasting ASX to drop and complete the c wave part of the structure before going back up. This drop will be very impulsive (as c waves are generally impulsive in nature) it coming near the low before going back up.
Regards,
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ASX
