Day two: our Australia 200 trade

My buy signal was triggered on Friday, with the index trading around 5220 at the time of writing. With the index now at 5320, the position has worked fairly well and is in the money.

I would personally close the long position on the ASX 200, given the holiday break. It’s also worth pointing out that on the daily candles, good supply has been seen around the September pivot and the daily candles has printed an inverted hammer, which could indicate the buying has dried up.

My sell signal has not effectively been triggered, so those wanting to ride out the trend and wait for the MACD (blue line) to cross back below the signal line (red line) can do so, while others may leave a stop under yesterday’s low of 5253.

Australia 200

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