ASX Morning call 16th August

Yesterdays plan was to buy a dip at the open to target the gap left from the divi. I honestly thought price would be slow and boring and take hours but was done in less that an hour for a tidy profit.

Its expiry day today. After an overnight rout the ASX has retraced yesterdays move. We have already retraced the overnight rout by 38% so dont think there is anymore upside and today will most likely be digesting what happened if anything.

I am looking for expiry moves up to the pivot and down to S3 overnight lows unfilled closing gap 6255 for a buy. Generally the pre-open from 9:50 will provide the range and size of the move and the cash break should trade that move and fade. Expiry takes 10mins and the could start to retrace after 5mins or 15mins. Its really random and I have a few methods to enter but prefer to load up when I see 15mins of trade 30-40 points from the pre-market low of high range.

Lets see what we get.