week20 ASX h4 closes below 2 months low , resisted by 52weeks level

week20 ASX h4 short from 52 weeks level 120515

h4

price has crashed for 2 weeks , closing below 2 months low and 52weeks level high.

recent consolidation does not look easy for price to return up. Looking for more continuation down.

Depending on how conservative it will be, Stop Loss to be palced above either 1st or 2nd level of resistance.

D1

week20 ASX D1 Resisted 120515

Day chart shows the current resistance is at. The attractiveness of this short will be due to the tight SL as price seems to be respecting this 52weeks Res cluster.

updated 170515

Price remains supported and short position did not work out.  Unsure of the next move now as it is sandwich between both resistance n support. As a chartist/trader , there is always an option to pass something unclear for clearer picture.

https://www.tradingview.com/chart/AXJO/6W2Ypotb-ASX-Price-reaches-a-52weeks-support/

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