My previous Finlogix AUS200 index short analysis and trade plan has exited in a stop loss:

https://www.finlogix.com/analysis/20240229/aus200-intraday-analysis-and-trading-plan-for-february-29-2024

There is no major Australian economic report this Friday.

Re-assessing AUS200’s high timeframe candles:

Yearly Candle: Last check was a Green Long Lower Shadow now a Green Hammer

Monthly Candle: Previous close is a Green Long Lower Shadow current is a Green Body

Weekly Candle: Last check was a Small Green Doji current is a Green Body with Tail Wick

Daily Candle: Yesterday close and today are both Green Body

A pretty explosive start of the March after the previous 7720 high got broken. The AUS200 index has printed series of new all time highs during the intraday’s first two 4H candles.

The yearly candle has changed to a bullish green hammer since last check yesterday.

Good opening for the March candle as well.

There is a renewed buyers’ strength. The multiple weekly Doji candles I mentioned in last night’s analysis have resulted for a new up wave move.

It looks like any selling attempts were immediately bought back and the index is ready for higher price discovery for the month of March.

There is a new bullish 4H FVG established intraday after the previous 7720 ATH resistance trendline got broken successfully.

Despite of this, I am not going to FOMO and enter a long position. I am still a bearish based on the current fundamental and macroeconomic conditions.

Further odds to the upside as there might be a higher all time highs. Plenty of willing buyers that are overwhelming the markets. I will wait for the extension of this greed as buy side liquidity is the market target.

The 8000 level is the new psychological to keep an eye on.

I will maintain as a stubborn bear as I am.

AUS200 Intraday Analysis and Trading Plan For March 1, 2024

Mar 01 2024

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