Please read the Australian Index Weekly report before proceeding....
7:00 amDown trending market, opening below most major support levels, and probably opening outside the 5-day dynamic range @ 6231 (bearish)
Favouring 'gap' trading:- longs into 6259 & 6278...
The lower Daily open will probably try and move upwards based on the 'large gap', but how it reacts after this is going to determine whether this week is an UP Weekly timeframe (Weekly Report)
Risk level is 6231 (5-day lows).. high risk trading longs outside this level...
Most swing patterns occur inside the 5-day dynamic range patterns, outside this range and the potential to continue with the down-trend is a high probability towards January lows
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