ASX 200 Technical Analysis - Tuesday, July 13

(Video length 00:48:33)

  • Technical Analysis Elliott Wave ASX200, CBA, ANZ, BHP, RIO, FMG, IRON ORE, COPPER, CRUDE, AUDUSD GOLD  NCM DXY STO WPL
  • ASX 200 Technical Analysis Bullish corrective pattern completed with the first impulse wave upwards as Wave (i). Expect Wave (ii) Wed and Thursday and Friday bullish in line with the bullish weekly cycle.
  • Today I also look at the Woodside WPL and Santos STO for long trade setups. Resource stocks like BHP RIO FMG are moving up in line with the Elliott wave analysis.
  • Trading Levels: ASX200 Support on the Minor level, top of Minor Group1 and Sub group1 7330 creates long trades
  • ASX200 Elliott Wave: Wave iv) The Wave iv) is being dragged sideways by the finance sector, so a deeper understanding of the pattern in the finance sector is important.
  • ASX200 Trading Strategy: If you have long trades then the Stop Loss needs to go under the 7200 while we wait for the Wave iv) correction to complete and move higher.

 

Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...

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