This monthly update will analyse the weekly and the daily charts to see the current state of the Australian market.
The Australian Share market started Financial Year 2017/18 with the S&P/ASX 200 (AU200AUD) at 5717. For the month of July 2017, the S&P/ASX 200 was down .18% to finish at 5707.
Below is the weekly chart of the S&P/ASX 200 provided by TradingView for this article.
The S&P/ASX 200 is currently going through consolidation phase. In the month of July, the Australian market started on positive note but by the mid July it pullback to major support at 5640. Currently ASX 200 trading above minor support at 5700.
Below is Daily chart of the S&P/ASX 200 provided by TradingView.
The volatility will increase in August due to start of reporting season in Australia. For the month of August, if S&P/ASX 200 held price above 5700, then we have high probability it will break SKB and bearish cloud and cross 5800 by mid-August. If it goes below 5700 then it may pullback again to 5640 level and may continue its current consolidation phase.
Here is a list of Australia stocks that are completely bullish:
Note: RT Scanner, EII Capital, August 2 2017
Let’s now look for a trading opportunity. Since the market has closed above minor resistance, we want to make sure we trade in the direction of the higher time frames.
In using our scanner to analyse the ASX200, we found the following opportunities in our Multiple time frame email alert.
|
Trading Timeframe |
Bullish |
Bearish |
| 10 Minutes | NEC-ASX, NINE ENT FPO (2) FXL-ASX, FLEXIGROUP FPO (4) A2M-ASX, A2 MILK FPO NZ (2) APN-ASX, APN N&M FPO (4) S32-ASX, SOUTH32 FPO (2) IFL-ASX, IOOF FPO (4) |
SPO-ASX, SPOTLESS FPO (4) GPT-ASX, GPT STAPLED (4) IRE-ASX, IRESS FPO (4) BOQ-ASX, BANK QLD FPO (4) ARB-ASX, ARB CORP FPO (4) |
| 30 Minutes | NEC-ASX, NINE ENT FPO (2) FXL-ASX, FLEXIGROUP FPO (2) A2M-ASX, A2 MILK FPO NZ (4) APN-ASX, APN N&M FPO (2) IFL-ASX, IOOF FPO (2) |
SPO-ASX, SPOTLESS FPO (4) GPT-ASX, GPT STAPLED (2) IRE-ASX, IRESS FPO (4) BOQ-ASX, BANK QLD FPO (4) ARB-ASX, ARB CORP FPO (4) CWY-ASX, CLEANAWAY FPO (2) AWC-ASX, ALUMINA FPO (2) EVN-ASX, EVOLUTION FPO (2) GOZ-ASX, GROWTHPRO STAPLED (4) TME-ASX, TRADE ME FPO NZX (2) GXL-ASX, GREENCROSS FPO (4) JHX-ASX, J HARDIE CDI 1:1 (2) SHL-ASX, SONIC HLTH FPO (2) |
| 60 Minutes | FXL-ASX, FLEXIGROUP FPO (2) APN-ASX, APN N&M FPO (2) BGA-ASX, BEGA FPO (2) |
SPO-ASX, SPOTLESS FPO (2) IRE-ASX, IRESS FPO (4) BOQ-ASX, BANK QLD FPO (2) ARB-ASX, ARB CORP FPO (2) AWC-ASX, ALUMINA FPO (2) EVN-ASX, EVOLUTION FPO (2) GOZ-ASX, GROWTHPRO STAPLED (4) TME-ASX, TRADE ME FPO NZX (4) JHX-ASX, J HARDIE CDI 1:1 (4) SHL-ASX, SONIC HLTH FPO (4) SKT-ASX, SKY NET TV FPO NZ (2) |
| 120 Minutes | NEC-ASX, NINE ENT FPO (2) A2M-ASX, A2 MILK FPO NZ (4) S32-ASX, SOUTH32 FPO (4) BGA-ASX, BEGA FPO (4) |
GPT-ASX, GPT STAPLED (4) CWY-ASX, CLEANAWAY FPO (2) AWC-ASX, ALUMINA FPO (4) EVN-ASX, EVOLUTION FPO (2) GOZ-ASX, GROWTHPRO STAPLED (4) TME-ASX, TRADE ME FPO NZX (2) JHX-ASX, J HARDIE CDI 1:1 (2) SHL-ASX, SONIC HLTH FPO (2) SKT-ASX, SKY NET TV FPO NZ (4) |
| 240 Minutes | NEC-ASX, NINE ENT FPO (2) A2M-ASX, A2 MILK FPO NZ (4) S32-ASX, SOUTH32 FPO (2) BGA-ASX, BEGA FPO (2) |
GPT-ASX, GPT STAPLED (2) CWY-ASX, CLEANAWAY FPO (2) AWC-ASX, ALUMINA FPO (4) EVN-ASX, EVOLUTION FPO (2) GOZ-ASX, GROWTHPRO STAPLED (2) TME-ASX, TRADE ME FPO NZX (2) GXL-ASX, GREENCROSS FPO (4) JHX-ASX, J HARDIE CDI 1:1 (2) SHL-ASX, SONIC HLTH FPO (2) SKT-ASX, SKY NET TV FPO NZ (4) |
| Daily | S32-ASX, SOUTH32 FPO (4) IFL-ASX, IOOF FPO (2) BGA-ASX, BEGA FPO (4) |
CWY-ASX, CLEANAWAY FPO (4) GXL-ASX, GREENCROSS FPO (2) SKT-ASX, SKY NET TV FPO NZ (2) |
Note: Updated July 31, 2017 02:11:07 AM EST
If you would like to learn how to trade like an institutional trader or learn more about our multi-timeframe email alerts, go to www.ichimokutrade.com or email us at info@eiicapital.com
EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and Options Trading has large potential rewards, but also has large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provided on the Blog is for educational purpose.
