We had a nice long here. And with the correct stop, one could join with a market order as pullbacks rarely come up when trends are this fierce. I have no idea what the fundamentals are. And I careless. Im just trading my setups.
From the first chart, if target 1 and 2 is reached.. It will potentially complete a C Leg for two potential patterns to form. If so, then I would look for evidence for a reversal back up and confirm if price completes the D Leg to complete the pattern. If the two patterns complete, then i will look to enter short.
From the first chart, if target 1 and 2 is reached.. It will potentially complete a C Leg for two potential patterns to form. If so, then I would look for evidence for a reversal back up and confirm if price completes the D Leg to complete the pattern. If the two patterns complete, then i will look to enter short.
High Probability Setup: 2 x Advanced Patterns Ratio Confluence Harmonic Pattern (Symmetry) Price testing at or around Major structure (Support Resistance) Entry to Short at or around 5058 and 5096 Initial Targets around 4962 and second targets around 4884 Stops at 5147 Potential entry down at target 2 for a rally up
FX:AUS200 Despite the major bullish trend with another harmonic ending around the 6500$(Long-Long Term), there's a bearish Gartley Pattern that can work as another "bullish impulse" at the real end... GARTLEY Point B: 61.8% can not touch 78.6% XA Point C: 38.2% to 88.6% AB Point D: 78.6% XA 127% ext AB Target: TP1 38.2% AD TP2 61.8% AD Safe Trades;
Expecting a down movement to trend line tonight with news to guide direction.
FX:AUS200 CRAB Point B: 38.2% to 61.8% XA Point C: 38.2% to 88.6% AB Point D: (wait an oversold condition and eventual rsi divergence to buy it) 161% ext XA 224% to 316% ext AB Target: TP1 61.8% CD TP2 127% CD Safe trades; open.spotify.com
AUS200 is going in a complex correction and there is a good chance that it will go up significantly next week. We inter this swing trade today with 3.58 risk/reward ratio and we close our longs once leg C = leg A Happy trading :)
Major resistance -5270 (trend line joining 5409 and 5296) ASX has made high of 5283 and declined till 5232 (50 day 4 HMA) and started to recover from that level.The index is consolidating around 5270 and is trading around 5265. Any break below 5232 will drag the index till 5215/5200 level. Short term weakness only below 5160. On the higher side any break...
With a low test close testing a support area and the ascending trend line , and rejecting the 0.382 Fibonacci level as well as the 50% retracement line , this a long continuation trade with a preliminary target at the next resistance level. Entry above high of low test bar and stop loss below low of low test bar.
the aus200 has broke though and closed below the trend line on the 60min chart, this is in line with the overall trend on the higher time frame. I have a target of 4973 using my system with a stop just about the highs for a 1:1.5 return. but this will all depend on the opening tomorrow as to if this trades R:R is still favourable . please note this is not a buy...
Candle Signal: Shooting Star Implication: Bearish Invalidation: Closing above the candle High Warning: It is strongly recommended not to count on candlestick signals only for trading, use it in conjunction with other technical and fundamental tools. Subscribe to www.thefxchannel.com
Wyckoff 2 rules source: stockcharts.com GDP below long-term average of 3%, low spending, unemployment increasing, weak currency,... Economy system need to be reformed otherwise there wont be a "markup" (typically, that's seen first in financial risk-taking - like borrowing to invest in assets such as shares or existing property rather than the expansion of new...
1. Near R1 resistance 2. MA crossover 3. 76.4 fib level resistance 4. Over bought Stochastic. All indicators call for short. Follow our game plan.