Making the XJO thread great again.
I could not trade yesterday but plan was to look for fund and institution buying in the major blue chips but looked pretty lack luster to me with them all slightly down. That sort of market behavior on a Monday indicates no-one is buying. Next plan was to look for some serious selling in the first 10mins of trade and continued for the first hour down to Fridays lows where my plan was to sell a break of 6255 for 10 points which eventually gave way into the afternoon all the way down to 6220. Well done if you like that price action and got on to any shorts.
Tuesdays can be tricky because they can often reverse Monday and funds can start buying or selling as the index moves in their favor.
Today I will look for a quick move to the pivot in the first hour of trade for a sell at 6250 - 6257 area. Stops will need to be above yesterdays high at 6280.
I have a 4hr chart and can see price has dropped back into the range adjusted for IG's bullish premium currently 7-10 pips. So if the upper range holds today might trade back down to the 200 ema area in the next few trading days.
6196 is a buy for 10 points today and a big move to 6310 would also be a sell for 10 points.
![]()
![]()
- Forums
- ASX - By Stock
- XJO
- ASX Morning call 17th July
ASX Morning call 17th July
-
- There are more pages in this discussion • 35 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
|
|||||
Last
8,013.4 |
Change
31.000(0.39%) |
Mkt cap ! n/a |
Open | High | Low |
7,982.4 | 8,030.3 | 7,982.4 |
Featured News
XJO (ASX) Chart |