All about trade wars yesterday. Wanted to get short in the first 10mins if the price was below cbol but market participation was low, small bars and reversals were setting up every 5min bar to go long and never confirmed. Really tricky to judge the PA and be confident the price was going to continue down or reverse.
Today I am going to look for reversals in the first hour around overnight highs, cbol 6246. Stop needs to be above yesterdays high. If it does rally without a reversal signal selling 6296 area will be good.
XJO is not negative till it gets below 6195 and a buy around around 6158 should be good for 10 points.
Thursdays are often volatile and a possible spike at the futures or cash open is possible and I will sell a spike up to 6246.
Back in the range 6150 to 6250. I will let you know if I see anything setting up.
ASX Morning call 12th July
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Last
7,829.7 |
Change
66.500(0.86%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,763.2 | 7,832.3 | 7,763.2 |
| XJO (ASX) Chart |