Trade Idea: Sell Australia 200
Reasoning: Bearish engulfing forming on daily chart, Stalled at resistance and turned lower under Ichimoku cloud on 4-hour chart.
Entry Level: 6494.5
Take Profit Level: 6254.5
Stop Loss: 6554.5
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There...
AU200 has reached .382 from th large swing.
It looks oversold and has also reached a 1.272 ext and a 2 from previous swings.
The target would be the .382 of the last swing lower.
We can look for some buying that may be the beginning of a short reversal. There's not enough buying just yet but we should keep an eye on this.....
On the H4, with price moving above the ichimoku cloud and within the ascending trenddline, we have a bullish bias that price will rise from the buy entry at 7154.3 in line with the 61.8% fibonacci projection to the take profit at 7366 in line with the overlap resistance level and -27.2% fibonacci expansion. Alternatively, price may drop from the buy entry to the...
Australian shares are expected to start the day lower tracking overnight losses on Wall Street. Energy crisis statement just released. Queensland businesses are calling for a state government rebate to offset surging power bills.
AU200 H4 Breakout
The main view of this trade idea is on the Daily Chart.
After declining approximately 12% over the last two week, the Australia 200 index began a symmetrical triangle setup pattern. The resistance trend line was calculated with the lower highs of 7660 and 7345 while the support trend line was calculated with the higher lows of 6750 and 6915. It...
Hello traders, according to my graphical analysis of AU200AUD, there is a high probability of a decline towards support level showing on the chart .
thank you for watching the analysis, it will be great when you support it with a like, follow me for more market analysis.
Most of the indices are looking pretty bearish across the board.
Here for the ASX, after the bearish impulse phase down, price had formed into an ascending channel reversal, and a "M" structure at the top.
These are good sign of bearish development, that could continue the bearish trend.
Last Friday we also see price commit to the downside more...