Australia 200 - just an idea

14 thg 10, 2020

Australian index seems to be in a very stable trading channel (since May) - but it looks like it might break out. It has a lot of upside potential - with the top of the 12 years trend channel quite high above and also the long term resistance (double ATH) being around 6950.
Plus Australia has dealt with the covid-19 pretty decently and has no spikes in cases and lockdowns on the way. (unlike Europe). I think this fact also plays its role in the recent uptrend.
So if it breaks above I consider this a feasible long term investment.

14 thg 10, 2020

Ghi chú

It might actually turn the opossite direction and the channel bottom -

14 thg 10, 2020

Ghi chú

Now it is the time when decision comes.

14 thg 10, 2020

Ghi chú

rejected exactly at the top of the trading channel. Will retest once more for sure. We will see. I am long.

10 thg 11, 2020

Ghi chú

Got out and now struggles at major res/sup - still possible more upside. My longs closed - waiting for better entry