The ASX has hit the bearish market hard in march 2020. It was able to recover in a matter of months. Most markets take a long time to recover. The ASX was able to hit the resistance line.
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Sun Tzu Art of War :
You can be sure of succeeding in your attacks if you only attack places which are undefended. #
Typically, at least half of Australia's barely exports would be bound for China............
The tariffs, based on dumping and farm subsidy claims, would end Australia's $1.5 billion barley trade to China......
Barley is...
Idea for ASX
Multiple ascending scallops
using fibonacci spiral for a support which is also a .236 retracement from the top formed
I've made a few ASX ideas lately but i'm Australian so i feel it suits.
This is a very long term chart!
Showing the potential bearishness is an ascending scallop
The leg of the scallop has been extended so far that momentum has decreased and bearish momentum has been engaged
I am very bearish on Australian stocks.
First time using fib circles :)
Look at this monthly wick it’s dying to bounce up 1st of April is the new wick all the stimulus etc,etc,
#ASX200
#BTC
buckle up this market has a bounce incoming
Manipulated global panic cause the largest and most devastating destruction around the world and this market gonna go boom somehow 🧐
I’m somewhat dissapointed and a little saddened by the fact...
We are in a much worse situation than the GFC. I think we have a way to go yet and will see this thing playing out for months to come as businesses default, housing crashes etc. The Bottom is way off. Just ride the way and play the ups and downs.
hey traders,
no divergence present. trend-line still valid. alot of people are freaking out (aus television) could just be a running flat... still not a fan of the daily macD growth. lets see how it plays out
regards,
TM
Likely close below the 200MA on the weekly chart will lead to further downsides as the alligator indicator opens up bearishly. Also currently sitting under the ichimoku cloud, providing a resistance. We could be on the brink (early stages) of a recession.
HUGEEEE TRADING OPPORTUNITY
This is going to pop up for the stimulus package in Australia, I don’t particularly care about this but I am looking for an indicator for BTC and if BTC is still following traditional markets there is a huge bounce incoming
Weekly chart showing a very possible upwards direction
I’m guessing whenever Scott Morrison releases his...
ASX looking very dangerous here
AB=CD objective hit
Price has reached the 1.618
Price has moved higher but volume is dropping off
Indicators sowing its overbought
With an impending GFC upon us, it would surprise me if we see a drop to the 618.
Potential short opportunity, can be seen to be hanging under the resistance line, with an immediate death cross on the daily chart in play, these are usually more effective on the weekly chart but we will see how it plays out. Aussies spending too much money on toilet paper..
The market has slipped nearly 13% from its peak in Aug 19. Chart shows several times that the price action has displayed fake breakouts.Now, we see a pin bar outside the bearish trend line. It is likely to fall back into the bearish trend line next week and may even goes further south to the direction indicated.
Alternatively, it could gain some support at 79.15...
Notice after the gaps been closed, the price action kept hovering around this price level,
making it a strong support level.
Last 2 red candles are highly bearish, pin bars and likely to falls back to the support level again.
SELL
