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Australia 200 CFDAustralia 200 CFDAustralia 200 CFD

Australia 200 CFD

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AUS200 trade ideas

ASX200 daily- Rising Wedge+failed to break 38.2% Fib retracemASX200 daily- Rising Wedge + Failed to break 38.2% Fib retracement. According to Thomas Bulkowski "Rising Wedges, especially for downward breakouts, are some of the worst performing chart patterns. Downward breakouts have an unacceptably high failure rate and small post breakout declines. Also, throwbacks and pullbacks occur 72% of the time." Breakout for Rising Wedges: Can be in either direction, 60% of the time downwards.
ASX:XJOShort
by platinum_growth
Short Analysis on AU200 ( ASX ) 2 timeframes / By ThinkingAntsOk Main items we can see on the 4HS chart: a) From the Historical Higher High at 7200 the price made a bearish movement and found support at 4800 b) From there we observed a bullish movement towards the Broken ascending trendlines of the previous ascending motive waves c) The structure that we can see is a Wedge Pattern doing a pullback to the previous ascending trendline d) We saw a breakout of the wedge pattern and a corrective structure next to it e) Our Forecast is that there is a major resistance zone at 5600 -5650 and we will expect a bearish movement towards 4700-4800 WEEKLY CHART:
OANDA:AU200AUD
by ThinkingAntsOk