My Current Active Open Trades: AUDUSD, AUDNZD, EURGBP, EURCHF, EURPLN, GBPNZD, XAUTHB
ASX 200 – Looking To Sell At Multi-Year Resistance (weekly chart)
Continuing it’s impressive bull run since Q1 2016, the ASX 200 is marching towards a multi-year high around 6K. This level was last reached in 2015, and has held since 2008.
I believe there will be some profit taking at this level, and thus a trading opportunity to short, while playing both sides. Meaning if the short holds, we’ll keep the trade open, but if the 6K level breaks, we’ll look out for a BOPB setup.
Only a weekly close above 6K would switch my price action structural bias to bullish MT. Downside I’d be looking to …... Keep reading