Already long, low risk high R:R trade, target to start adding to my longer term short is around the possible 5.0 pattern completion
Stop is directly below the last two days lows, not giving it much room as it will either retrace now or if it fails it will likely breach the lows to take out stops first and there is always another opportunity to get back in...
I know this is slightly late, however this trade is active on my side and i am looking to take profit from the start of this impulsive leg. At around 6964.92 area, i will be looking to trail my stop to 7123.57 and continue from there in order to try and capitalize on this move down!
Hello guys, I expect a mega ascending triangle breakout on the level of 7033. Probably it will keep its bullish ride to the top of the triangle, and then it will drop, so i'd wait to open it. we just need a confirmation, and then I'll open it at the breakout point with a target on 6887
Good morning traders,
The ASX has reached a key level failing to break above the inclining channel.
There is currently a bearish divergence on the RSI followed by an inclining wedge formation.
With global indices looking very fragile at the moment due to the Coronavirus, Impeachment and earnings season in the US, the ASX could follow suit.
Any comments are welcome!
Clear break out with a really strong impulse move.
It’s been over bought with 2 technical pattern on H4 there is a double top waiting to be broken and a H&S.
A clear break of 7040 will see more move to the downside.
AUS200 GOING SHORT WITH THE LAW OF QUASIMODO COMPRESSION + LIQUIDITY AND ALSO FAKE OUT ZONE TO WIPE OF SELLER AND HIT THE BUY STOP OF THE BUYERS BEFORE THE PAIR START GOING DOWN , THIS WILL BRING GOOD PIPS TO THE TAKE AND MIGHT HOLD FOR THE REST OF THE YEAR AFTER ENTERING THE TRADE
The S&P/ASX 200 index (also known as the XJO) is the main benchmark for the Australian equity market (replacing the venerable All Ords as the industry standard). The index is made up of 200 of the top stocks, which boast a total value of around $1.1 billion (end of March 2010).
