The AUS200 reverses my June 7 bullish analysis after, 7700 level is a must hold area for the bulls.

My short trade plan last June 7 has exited in another stop loss:

https://www.finlogix.com/analysis/20240607/aus200-intraday-analysis-and-trading-plan-for-june-7-2024

Extending my lose streak to 8 with no win record.

There are no further Australian high impact economic reports today after Employment Change and Unemployment Rate data came out yesterday.

Re-assessing AUS200’s high timeframe candles:

Yearly Candle: Last check is a Green Long Lower Shadow now a Green Long-Legged Spinning Top

Monthly Candle: Last check is a Green Body with a Slightly Longer Tail Wick now a Red Long Upper Shadow with a Small Body

Weekly Candle: Previous close is a Green Body with a Longer Head Wick current is a Red Body with a Longer Tail Wick

Daily Candle: Previous close is a Red Long Lower Shadow with a Medium Body current is a Red Body

Note: I’m using Tradingview.com under the AUS200 pair in BlackBull Exchange to thoroughly re-assess these high timeframe candles.

The AUS200 index this week cannot retain its previous gains which has totally nullified my bullish call last week.

While looking weakened throughout the  current trading week, intraday is still holding the important 7700 level which has been the key for 3 days now.

In the chart above, current price is still trading within the 61.80% fib retracement level based from May 30 swing low to June 7 swing high move.

There was an attempt towards the deeper and more discounted 78.60% fib level last Tuesday that helped surge the price to almost 7790 before plunging down again.

From here, price can further drop if the 3-day 7700 support level gives up.

My previous long trade plan has enjoyed a positive open PnL for a few hours only before price reversing back downwards before triggering its stop loss on Tuesday.

I’m supporting dips below the 7700 support level, putting a stop loss at 7600 only while targeting the 8000 psychological level again as my take profit exit.

I’m still hopeful for a new 2024 high record.

All trade ideas I share are my own views and for my own trades only.

Copy trading and trading directly involve risks.

AUS200 Intraday Analysis and Trading Plan For June 14, 2024

Jun 14 2024

Take Profit +4.04%

Holding time 28d4hr

7689.60

Entry price

8000.35

Take profit price

1

1