Continuation of 28/08/14 Analysis --- This index is still in the uptrend. As previously mentioned, both lines above (uptrend and horizontal line) should serve as support, though it is better to trade at the uptrend support because it has a lower price. But what is important is how the price reacts in these two levels. As can be seen in the chart, the price...
Pair trade: Long Australia vs Short UK
The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following: The ASX200 tried to breach the uptrend channel last week for 2nd time but it declined making a double local top exactly at the top level of the uptrend channel like before. So the first think in mind is the case of the KUMO approaching correction like...
Price has been rejected twice at the resistance of around 5658, first by shooting star follow by evening star 10 days later. Market has closed in Sydney. So today is the follow through of the bearishness with yet another big red bar! See you at the bottom of the channel
The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following: The ASX200 extended the uptrend movement last week but it declined last Thursday making a local top exactly at the top level of the uptrend channel like before. So the first think in mind is the case of the KUMO approaching correction like before. . We...
This index has nowhere to go but up. The uptrend line which served as a support line and a horizontal support line are shown in the chart. These two lines and the price action that will take place near these lines are important for us to know where the market is going and the right time to trade. We know that the market is going up but we do not want to buy at a...
Playing down. It is either BC or some kind of retrace down. Not bearish yet, but a correction is possible. Hence the trade.
By 5658 it could be all over... going short with stop 5670 targetting low below 2000 then go long "forever"
This week we will see the EMA (50,100,200) and MACD,RSI for various diagrams. The S&P/ASX 200 Index (STI) Daily Diagram Technical Analysis Training shows the following: The ASX200 index has made a correction decline and then (last week) it reacted on EMA 100. Last week it crossed EMA 50. ASX 200 is on a bull market because EMA 50 is above EMA 100 that is above...
The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following: The ASX200 declined in last week's sell off towards to KUMO. So the first think in mind is the KUMO and EMA200 Support. MACD is bearish and RSI too. We have no special candlestick pattern except the long red candlestick of -1.34% like a week before. The...
It will be great if on Monday price could go a bit lower so I could open Long position with Target 5550. Very small position, Reasons^ Daily cloud is still very bullish and I think we have fallen a bit too much to fast. Also we crossed the supporting trend line, it was not convincing enough on daily. Price will need to correct towards 5530-5550 ( or more ? ) to...
The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following: The ASX200 extended the uptrend movement last week but it declined in last Friday's sell off towards to 0.5 of Fib. So the first think in mind is the case of correction ending at 0.5 of Fib or not. MACD is bullish above the zero line and RSI too but both...
The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following: The ASX200 extended the uptrend movement last week. This is the 4th time that ASX200 test 5524 and it closed at higher high last Friday. So the first think in mind is 1.618 of fib as next target. MACD is bullish above the zero line and RSI too. We have...
The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following: The ASX200 index has made a bullish reaction exactly above the KUMO cloud last week. This is a new effort for uptrend between 5374 and 5523 that index consolidates from April 2014 until now. The daily diagram shows bullish trend. On the other hand the 5536.70...
The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following: The ASX200 index has made a short term bullish development above the KUMO cloud last week. Now the resistance has been broken. The daily diagram shows bullish trend. On the other hand the 5536.70 resistance level has tested 3 times before. So the first...
The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following: The ASX200 index has made consolidations into the KUMO cloud last week. Now the resistance line has met the SPAN A of KUMO (green line) and both can be strong resistance or a new support if the trend is going to change. The weekly diagram shows neutral...
It's looking likely that the potential selling climax from last week is going to be confirmed. Good Risk/Return trade potential here.