lets look at Australia 200 .
Critical Zone: 5640 ~70
There has not been much action for Australia 200 this year. With this type of condition, if we stick to the plan, we can all make consistent profits until the pattern ends. As Chinese economy stalls, we will expect to see Australian market stabilizes.
As we can see on the chart, since February 2017, Australia 200 has been trading in two ranges
1) 5670 to 5790 (120pips)
2) 5790 to 5950 (160pips)
the second range only lasted less than two months, for the following three months, AUS200 have been trading between the 5640/ 5790 (150pips)range .
As we speak, Australia 200 is trading at 5665, it is now a good opportunity to enter and target 5785 (120pips), SL at 5617 (48pips) 1:2.4RR
Thank you for reading. Happy trading