AU200 managed to reject the 50 percent very nicely. Structure remains bullish. As long as price does not break the level marked with the rectangle and closes below, the structure will remain bullish and long opportunities could be taken.
AU200 has just completed a 5 count reversal on the daily.
Market has just taken out all new stops in June/July.
This is an indication to go Long
First target would be in the top third of the box
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in AUS200.
6.8.21 Review of strategies for equities vs futures Part 2 looking at more difficult patterns on Bitcoin and DOCEUSD; Follow up on AU200AUD expanding triangle. ( i made misstatements.... if you know what support and resistance is...you will catch my "slips of the tongue.
The Australian index is breaking out of the recent range.
It coincides with the long momentum in China (as you may know, Australia has a lot of dependency with China).
I'll be looking for the pullback.
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Might not happen, but this fractal is just a much larger version of the start of the 2010 bull run. More dollar printing ahead. People jumping into equities as there's no incentive holding money in the bank. Just a theory, but interesting to see if it plays out.
5.10.21 AU200 Final chapter on COILS: I look at patterns, overall market dynamics (admittedly a vague term), structure, and certain tools that I think of as algorithms of the market...and then I have to make a trade decision: buyer? seller? sit on my hands? I am a discretionary trader using market information ( maybe most of us are to various degrees ). ...
Any form of support is greatly appreciated and helps motivate to publish more ideas for the community.
Important Price: 7040.6
We want to see price move away from this, confirming our move down to 7005.5 . After we see this move happen, purely from a price action perspective we're able to determine a further sell off or SHORT.
What do we...