The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following:
The ASX200 tried to breach the uptrend channel last week for 2nd time but it declined making a double local top exactly at the top level of the uptrend channel like before.
So the first think in mind is the case of the KUMO approaching correction like before.
We have no special candlestick pattern except the long red candlesticks. The index is above the KUMO and above the Kijun Sen (blue line) but under the Tenkan Sen (green line).
There is no special pattern.
There is a divergence on MACD. Short for Kijun Sen first (blue line). Stop loss above the channel.
The ASX200 tried to breach the uptrend channel last week for 2nd time but it declined making a double local top exactly at the top level of the uptrend channel like before.
So the first think in mind is the case of the KUMO approaching correction like before.
We have no special candlestick pattern except the long red candlesticks. The index is above the KUMO and above the Kijun Sen (blue line) but under the Tenkan Sen (green line).
There is no special pattern.
There is a divergence on MACD. Short for Kijun Sen first (blue line). Stop loss above the channel.
