ASX200 drops like a stone so short position looking good

Trade Management ASX200

 

ASX200 Index

The ASX200 as fell out of bed as expected and recently broken down through weekly support. Although we unfortunately cancelled the alert, for traders that use and ‘End Of Day’ exit, you would have shorted the ASX200 at 6158 and feeling pretty good now. Time for a partial exit at current levels (at market) and drop the remaining stop loss to 6060 and lock in some further gains. Price could easily drop to test 5718 where it may be prudent to close the remaining and call it a day.

 

Index Code : ASX200

Current Price : 5943

Previous Sell Entry Level (Trigger Level) : 6158

New Buy Exit Zone (Stop Loss) : 6060

50% Partial Exit (Target) : At market 5943

Status : Trade Management (Not Held Alert)

 

 


Original Alert 25/9/18

New Sell Entry Alert ASX200

 

Time Frame : Daily

 

ASX200 Index

The ASX200 is starting to look weak so we are happy to get short and see where the action takes us. Happy to sell on a push lower through 6158 and hold the stop loss at 6219. If price pushes higher prior to entry through 6219, we will cancel the alert and re-assess the action. The short is also a nice hedge if price really gets a move on lower as global sentiment is still negative. A sell can also be traded on the STW on the ASX through 5835.

 

Index Code : ASX200

Current Price : 6174

New Sell Entry Level (Trigger Level) : 6158

Potential Buy Exit Zone (Stop Loss) : 6219

Status : On watch for a Sell entry trigger