The Aussie Stock Market All Ords has seen price break down through the 20 and 50 MAV and has tested both as resistance.
So looking for the market to make a retracement .
Entry - now
Stop - above 50 MAV around 6800
Target - around .618 fib of 6000.
Risk Reward = 3
# Time culmination off the 2007 Top, 2009 Bottom and 2015 Top
# Double Top 2007
# Top of price channel off 2009, 2016, 2018 Bottoms and 2011 and 2015 Tops.
# Monthly RSI 70.35 - highest since 2007 Top.
# Breaking the Dec 2018 bottom trend line.
An opinion only - DYOR.
Markets are in distress presently with the US - China trade war.....
All markets will be effected as these two giant economies strand off...
Looking for a short on the Aussie index after a bounce...
Entry - defined by the 50 MAV and a potential .50 fib retracement region.
Target - 200 MAV = representing long term fair value for this index
Stop - above the...
We have potential reversal (Bearish divergence) in the all ords. Just as we enter the reporting season. (Financials + Materials make up close to 50% of index) Materials have already turned bearish and with banks to report soon for the first time since the royal commission findings it looks like we are headed lower. I'm thinking we might have better opportunities...
I have sold off all capital and moved to BBOZ 2x Leveraged SHORT TMF. high risk but i live for the biscuit!!
massive amount of bearish div. across multiple time frames on RSI
large long term distribution pattern (megaphone or expanding / diverging wedge)
new ATH on index
fractalised bearish patterns.
parabolic year to date, floundering and failing housing...
The All ords is pushing towards multiyear highs. An entry is considered in direction of trend .
1. Entry - just above the high of the recent inside bar ( mother candle)
2. Stop - below major support at 6770 ( and below current candle wick)
3. Target - .618 fib extension
Risk Reward 3.5
Keep an eye on the ALL ORDS as price is @ the all time high from 2008.
we know what happened after this...
It is a psychological resistance level, be alert for a trend change or continuation..
stochastic and RSI on the weekly are coming into high territory.
Don't give back to the market, have a plan in place.
The aussie stock market is ramping up after the feds comments last friday.
Also we know that the aussie stocks pretty much follow the US market very closely. If there is a rally overnight in the US we should rally today in AUS.
We have a nice INV HS here with a clear break in down trend on the Daily chart. We could rally up here over the next few months to test...