Shorting the Housing Bubble in Australia, page-129

G'day folks,

WEEKLY CHART chat..... Remember, this is "my" point of view..... You can always have yours.....

Being fair here..... We are JUST in the line of the divide today..... Which was expected by me working on today's trading.... I've encounter a bit of interest on the stock with buyers but, I have also have my counter parties adding to their/our own shorts.....

Long term is INTACT IMHO..... we've got the Australian Housing Bubble.... we've got the world economics, we've got the US Debt Ceiling meetings coming up, we've got North Korea economic outcome playing games....

Short term is a TIE IMHO..... We’ve got on my chart example a "tentative"... a try to break the strong DOWNTREND on the WEEKLY CHART for the last 2 weeks.... please refer to the candlestick chart with the colours red and green......
EOW - end of week, tonight in OZ land we’ve got a TIE..... It’s on the line... and it's trying hard as.......... IMHO.... which I do not blame on the ones wanting a break on the trend... fair enough... but, it does not quite work that way.... only IMO......

I can confirm my theory because I can rely on the chart mirroring with what I call one of... if not the best indicator combination with candlestick charts..... Obviously, if you use a different type (line, bars, heikin ashi, area, renko, kagi, point & figure, etc...) you must adjust and find your best indicator....

STOCHASTIC is on the money mirroring the chart IMHO.... it's not bullish..... It’s not bearish... it's neutral....it's a TIE.

Next week I would like to see a close at $4.18's..... Not much to ask for... but... very interesting on my big picture......

My next major target is $4.03's ...... I will not go on with my other 3 next major targets now. But, they will come to the thread and forum within weeks/months.....

CHART:




Have a great weekend all,

cheers

T10