Please Read the Australian Index Weekly Report before proceeding....
Expectation that January lows will support the market, and move into a consolidation Weekly timeframe. It is also a Weekly timeframe that is opening on its low, which often favours a 2-3 day counter-trend move upwards and back towards the 3-day highs...
Risk 5972....
Ideally I would like the market to reverse perfectly off the Risk levels and move upwards, but I also know that below and it could be moving down into higher timeframe extreme ranges....5920 (Weekly extremes)
Note:- 5972 is not Monday's 5-day low, it's Friday's, so it's high Risk trading longs below 5972 today..
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