First thing to note is that we have a bearish breakout below the ascending trendline on the 1hour timeframe. Additional RSI is suggesting selling pressure with the bearish divergence.
== Game Plan ==
Wait for a pullback as outlined on the chart to enter a sell targeting a 3:1 risk to reward.
Most major markets have been breaking All-Time-Highs.
Momentum is still strongly bullish.
Currently in a Bullish Outbreak, occurring after two same-sized retracements (represented by congruent grey rectangles).
No indication of reversal, expecting price to continue hitting new highs.
Preparing for Long positions after appropriate candlestick close.
Keep an...
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the...
CAPITALCOM:AU200 chart mapping/analysis.
ASX grinding higher into EOY, benefitting from relative strength in global commodities & precious metals.
Trading scenarios into EOY:
Continued commodity strength + US bullish momentum = rally into 23.6% Fib / ascending trend-line (light blue dotted) confluence zone.
Rally would coincide with re-test of bearish...
ASXAUD was in bullish trend and was making HH and HL. Divergence on RSI appeared on hourly chart. Rising wedge formation was formed. Now instrument give breakout of the Rising Wedge pattern downside. Most probably, trend reversal is expected.
Due to prevailing market structure bearish continuation can be expected from AUS200 provided 7320 is not violated.
Hunting bearish entry structures to follow price short.
the price came from weekly demand zone and in daily time frame is above 20 and 50 moving average, in 30 timeframe broken market structure and formed a new uptrend. and i think it will reach 7650 on the long run.
In our previous analysis we mentioned how 7000 was an important level in the ASX market and how the breach of the level could trigger a shift in the market sentiment to bearish and signal continuation of the overall downtrend. Round numbers are of significant psychological importance and act as areas of interest attracting a lot of liquidity including stop and...
With only 5 trading days left before the monthly close; 7000 will be an important psychological level to watch. A strong break and close below 7000 could potentially trigger shorts and the resumption of the overall down-trend which could see the Aussie sink lower between today`s session into early next week?
Bears Make Money; Bulls Make Money; Pigs Get Slaughtered!
Pattern – Continuation HL
Support – 7035
Resistance – 7100
Hi, and thanks for checking out today's update. Today, we are looking at ASX200 on the daily chart.
Today's video asks if the ASX200 will confirm a continuation price pattern we are watching develop on the daily price chart. Buyers look okay after holding support and forming a bullish bar in today's...
Since breaking below the 7125 zone on Sept the 21st; Price as now revisited the zone for the 2nd time, and again, failed to close above it creating what would seem to be a Double Top formation. As we slowly approach the end of the Month, it will be interesting to see if the bears will once again step in and drive the market lower with a red candle close for...
