# XJO Bullish



## druss (18 August 2008)

Hi all,

I'm a newbie here. Thought I'd share my analysis of XJO for my first post.

I am currently Very Bullish on this. Note the Retest of the neckline on the weekly candlestick chart. This candle is a Bullish Hammer Candle, followed by a Doji.

In my book this is an extremely bullish signal. Only time will tell however.

Target around 5350 - 5400.

Take care.


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## Logique (18 August 2008)

Solid analysis druss.
Fits with my views also.


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## druss (18 August 2008)

Boom Boom Boom.

If can push through 5100 this week. 5350-5400 all the way....


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## skyQuake (18 August 2008)

Chuck volume on that chart mate.


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## druss (18 August 2008)

Here you go mate. Volume and On Balance Volume.


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## tech/a (18 August 2008)

Put this up a few hrs ago in the wrong thread.



tech/a said:


> *Well I disagree.
> Infact my analysis is the exact opposite.*
> 
> Much has been written in the Parent XAO thread.
> I agree with most at 4300-4100 as a possible end of this pattern.




New toossied up chart below.
_Click on chart to expand._


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## CanOz (18 August 2008)

And i posted this here yesterday, so we have a confluence of analysis?

https://www.aussiestockforums.com/forums/attachment.php?attachmentid=23206&d=1218940426

Cheers,


CanOz


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## skyQuake (19 August 2008)

Think druss is just talking about a swing trade, nothing positional. If 46xx fails Ive got 3xxx as longer term wildcard. Happy trading.


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## Dutchy3 (28 August 2008)

I picked up a few CFD's on the close today LONG ... 

If this can hold the current levels I believe accumulating LONG on the run to October ish might be fruitful


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## Wysiwyg (28 August 2008)

Dutchy3 said:


> I picked up a few CFD's on the close today LONG ...
> 
> If this can hold the current levels I believe accumulating LONG on the run to October ish might be fruitful




Hello D3, I`m interested in where you would place a stop loss after the entry with 100+ point daily trading ranges?


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## Dutchy3 (29 August 2008)

Hi W

4800 is a hard stop although I'd start exiting some on the contracts on closing weakness below 4950 ....

My position is a fraction of a full position (25%) as this thing is still well below its 150 DEMA and only a few of my bull signals are triggering.


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## Dutchy3 (29 August 2008)

Still below the 150 DEMA and the ADX yet to swing in support. Took another position towards the close today LONG ...

Not expecting a return to the good old days .... (1992 to 2007) yet there should be a few points in this now


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## tech/a (30 August 2008)

My analysis still remains as above.


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## michael_selway (30 August 2008)

tech/a said:


> My analysis still remains as above.




well DRUUS was right from the first post he wrote in this thread till now

thx

MS


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## tech/a (30 August 2008)

michael_selway said:


> well DRUUS was right from the first post he wrote in this thread till now
> 
> thx
> 
> MS





Timeframe Michael nothing more than different timeframes.

P&F plots a very clear chart on where we are I've put one over here.
https://www.aussiestockforums.com/forums/showthread.php?t=4888


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## druss (30 August 2008)

Quick Materials Sector Chart. 

Resistance ahead in this Sector. Note BHP chart has almost closed the gap down. Volume was relatively high on Friday. Potentially indicating a Pull Back this week.


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## tech/a (31 August 2008)

Agree on BHP


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## Sean K (31 August 2008)

tech/a said:


> Agree on BHP



But if it breaks up, it's a buy to me.

Tech, is that AGet?


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## tech/a (31 August 2008)

kennas said:


> But if it breaks up, it's a buy to me.
> 
> Tech, is that AGet?




Yes it is.---AGet

If it breaks up it will be a short term buy.
However longterm until the analysis of the wave 4 pattern is negated it still remains due for a good sized corrective move to culminate in 5 waves down or "A" then looking for a sustained "B" in the longer pattern.
Of course there are alternate counts.


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## prawn_86 (31 August 2008)

tech/a said:


> If it breaks up it will be a short term buy.
> However longterm until the analysis of the wave 4 pattern is negated it still remains due for a good sized corrective move to culminate in 5 waves down or "A" then looking for a sustained "B" in the longer pattern.
> Of course there are alternate counts.





So your take is about the same as mine:

'It could go up... or down'


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## Porper (31 August 2008)

CanOz said:


> And i posted this here yesterday, so we have a confluence of analysis?
> 
> https://www.aussiestockforums.com/forums/attachment.php?attachmentid=23206&d=1218940426
> 
> ...




Just to put a spanner in the works, here is my preffered count.If this pans out we will get a good bounce from here (maybe above 6000) but ultimately we have far, far lower to go.

The last impulse down is difficult to put a count on just because it is basically straight down.However I have labelled it as a wave 5 .

As usual, yes there are alternate counts, Techs been one of the more likely.


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## tech/a (31 August 2008)

prawn_86 said:


> So your take is about the same as mine:
> 
> 'It could go up... or down'




Can be said of every chart.
However my analysis is pointing me toward a drop in price for BHP.
Wether that is immediate from this point is not currently definative.

Thats what analysis does.
Gives us a starting point or an end for trades.


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## Boggo (2 September 2008)

Another potential leg down perhaps ?

Nearly went short today, didn't quite hit the target.

(click to enlarge)


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## Dutchy3 (3 September 2008)

Sold out this morning. Now netural

Now waiting for a Big White to take out 5150 (Close (say) 5170) to indicate that a better bullish run is on offer.

Will not happen today ....

Might not happen within the next week either which would confirm a greater period of range trading and therefore a netural bias.


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## druss (4 September 2008)

Pulled back right on Resistance.... Watching for Support..... Inverted Head and Shoulders Pattern Potentially forming....


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## skyQuake (5 September 2008)

Sailed right thru on heavy vol, failed retest of 12500 support turned resist. Only gonna trade this from the short side, RR better that way.


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## greggles (20 June 2018)

The XJO closed at 10 year highs today at 6,172.60. There were two previous attempts this year at breaking through 6,150 in January and May, but today it got there.


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