Price is approaching to August 2018 High - that is power level. The huge chance that price will bounce from it.
I wait on fake broke of 6381
Potential profit could be in 5 - 10 times bigger that a risk
The price broke down key level 6199 and D1 close under it.
On the chart we see that the price bounced many times from that level and made a fake broke. It is powerful signal that big players are interested in that level.
I look for a short near: 6189.9
C.C.L. — Candle created level
C.A.P. — Candle Approved level
F.B. — Fake broke
LONG TERM VIEW AUS200.
I AM NOT INTERESTED IN BUYING IT AS IT WILL BE VERY SLOW MOVE BUT DOWNSIDE WILL BE FAST AND AMAZING. WILL BE INTERESTING IN SELLING IT AROUND 6900.
TRADE WITH YOUR OWN STRATEGY.
TRADE WITH CARE
Australian index is loosing steam since 10/01/18. Today it reached support zone where we could see buyers jump in in continuation of the bullish trend. If it breaks below we will see probably strong selling and perhaps trend change.