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CWLTH BANK NYR3QUTCC

CWLTH BANK NYR3QUT

104.190AUDD
+0.790+0.76%
At close at 06:10 GMT
AUD
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CBAPM trade ideas

what if 67.70 support failsi don't see major support if 67.70 support fails, in that case price would go all the way down to around $60.10. next considerable support zone are 67.50, 65 - 64 then 62 - 61. May be good strategy for long position is to buy in stages. stage 1: 67.70 zone stage 2: 65-64 zone stage 3: 62-61 zone. P.S: please note these are my personal notes for my future refernce and by no means trading advise to anyone. please do your own research before entering into any trade.
AShort
by AsimMirza786
Elliott Wave in a chopping situationI think I can see Elliott Wave pattern but not sure how it's going to happen in current market situation. I think the trend is still upwards (which is great) but for next few days price will swing between support & resistance 72.300 and 74.50. since today's run was reasonably good after 5 days of price correction. I would be keeping an eye on tomorrow's market situation especially how it opens and closes. I think we should expect next bull run soon.
ALong
by AsimMirza786
1
good support at 72.300As I noted in my previous idea, that it's going to get support at 72.300, which it is getting at the moment. As it can seen in hourly chart. At this point it is still in upwards channel but it it falls below support level it can possibly fall below the up trend channel and come down below 72.00. with current market sentiment it's bit difficult to decide to make a trade. I think I will wait see see how it looks like at market closing. Please note these are my own notes for my reference and by no means trading advise to anyone. please do your own research before entering into any trade.
A
by AsimMirza786
3
Potential long opportunityIn the weekly chart we can see that the highs in the chart is testing previous resistance points as indicated by the green arrows. However with only one retest as indicated by the little yellow arrow on the right and then it was rejected I would recommend further retests before we can confirm a breakthrough. The volume is also declining and we have potential for it to fall back to $53 which was also the resistance for 2010-2012. The RSI seems likely it would pivot but once again would need a confirmation as one breakthrough seems unlikely to last. We are also not seeing a recovery in MACD so I would recommend a wait and see mentality till there is confirmation the resistance will be breached. For entry point I recommend waiting till another retest fails and drops back down again. *This is in no way trading advice, simply an opinion
ALong
by SpudSquad
3