Could AUSTRALIA lead the synchronised global market crash???The global markets have been rattled over the past year with many issues which don't need repeating however recently there was major banking scandals in Australia with Westpac (ASX:WBC) having breached the money laundering laws 23 million times. This chart is very interesting from a technical standpoint as it shows big selling pressure at a key resistance level over a very long time; 12 years to be precise. Over the weeks the sellers have continued to come in with pressure at the major resistance zone. This week showed a nasty amount of bear volume coming in. The question is will it continue?? We don't know yet as always but ill just say that a double top on the weekly chart is one of the most powerful sell signals you can see from a technical stand point.. so I am looking to get short and have already moved my super into cash as a precaution because the downside risk is very high in my opinion. What I'm waiting for is simply the weekly chart to turn into a negative trending territory for a longer term trade. For a shorter term trade the daily chart we possibly has an entry right now as the bears came in and broke the trend and now we have come back and retested. Good luck Muchos Gracias Shortby giltwenty2
AUS200 Watching for Downside ConfirmationSelf Explanatory no trade here quite yetby Christopher-JamesUpdated 4
XJO: ASX 200 Index TAThe Index breached 6765.90 in today's session and now back to its previous high at 6804.00. The overall short to medium term trend is bullish with reasonable price swing range of high tops high lows pushing prices within the price channel to the upside. The Index could continue to its next target at around 6840.40 if it stays above 6804.10. Support is at 6765.90, 6741.70, and 6705.40.by Rotuma6
Big Decision Time for XJO ASX200 Next Week? $XJOThe TTM Squeeze indicator attempts to identify periods of consolidation in a market. ... The dots across the zero line of the TTM Squeeze indicator will turn RED, signifying this period market compression. So breakout or a sell off next week for $XJO? hmmm, we are close to a breakout or a double top...MACD and RSI are looking bullish at the moment. by johninvest17Updated 6
AUS200 Longthe AUS200 movement have become more complex I don't believe the upside has finish due to the larger correction we came from I believe we are now creating a complex WXY pattern with Y being an Expanded Flat Due to how price is moving it is a possibility on the larger time frame we are creating an Expanded B wave Flat Therefore targets are not as optimistic as previous thought. Price may reverse between 6830-6830 Longby Henryq5
AUS200 LongWe had a nice impulse from our previous analysis We are now creating a Running/Expanded flat Longby HenryqUpdated 5
AUXAUD Head and Shoulder ?!Interesting to see HAS in index lol. Are we having a daily Head and Shoulder on AUXAUD?Shortby tonick2221
4Hour chart on AUD200In my previous analysis on AUD 200, we met our First Take Profit levels Our first TP level was coinciding with key Fib levels and as expected, we are finding selling pressure there. So I decided to go down to 4 hours charts, and to see if there is any cue there to see the expected direction. Following observation, 1. I drew a trend line on the RSI and a break below may indicate change in current upward move and may showcase caution and further analysis 2. The price action may just be creating a head and shoulder pattern, generally at market tops, indication price may exit downwards, but its too early as the right shoulder is not ready yet Keep a close eye on this chart. If you like it, please share a thumbs up and your comments will be highly appreciatedby LoveForChartsUpdated 4