ASX 200 - Pre Market Thoughts
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Summary: Buy off the 7420 area for 15 to 20 points.
Certainty: Moderate. Somewhat likely unless market tanks downwards.
Chart: 5 min AUS200 for today.
Notes: Outer levels reached, Monday’s are often good for buy setups.
The market opened higher to where the target was going to be, the move happened before trading opened unfortunately. No trade setup is valid unless the market touches 7351 for a buy.
Entered the market around the 7351 level for a small trade (around 7 or 8 points. Was happy enough with a small win given the market wasn’t setting up perfectly and the probability wasn’t huge. The market later went below the entry point. Small wins with limited risk were important here, these are not long term trades.