XAO Banter Thread

[tech/a]

So, the W4 marking is going to be disproved?

It wont be an invalid count unless
(1) Is taken out. Thats wave 1
A new count would then be valid
It may look like this --also a valid count.



A new higher wave 4 would be marked.

 

[Trembling Hand]

Agree we are nowhere near overbought.

Do you make anything of the divergence which has occurred over the last month?

View attachment 50621

No, thats not divergence the way I read it. I would want to see another 1 cycle at least.

 

[Gringotts Bank]

Longer term lines disrespected. Shorter term lines holding. Top of channel.

 

[Trembling Hand]

Longer term lines disrespected. Shorter term lines holding. Top of channel.

And if that doesn't hold.... there's always another line somewhere.

Time for some new tools?

 

[Gringotts Bank]

Time for some new tools?

Plenty of tools here on ASF

 

[Trembling Hand]

Plenty of tools here on ASF

Indeed, I guess the danger is in the easily influenced or lost start picking up those said tools. Hard too tell whats broken and inadequate when your struggling- i'm sure you'll agree. :

 

[CanOz]

Time for some new tools?

LOL...

The ADX is used as a trend strength tool.

That is one lip smacking sweet looking trend!

CanOz

 

[tech/a]

Plenty of tools here on ASF

Typical---always blaming the tools!

 

[Trembling Hand]

That is one lip smacking sweet looking trend!

Indeed Can it is. But we are not in isolation, as you know. We have been in a general bullish market for some time. Even the fiscal cliff nonsense only rolled 3.5% off the market for a few days. We just wanna go up. It is one of those times when trying to be smart makes you look silly.

it hasn't bent so....

 

[CanOz]

But we are not in isolation

Oh i know, its been an amazing run...there is simply no alternative but equities at the moment. The DAX bracketed and then broke nicely too.

That big spike intraday on the NK Friday was Yen induced...fresh lows

TradeTheNews.com Asian Market Update: Nikkei soars on new lows in Yen - Source TradeTheNews.com

CanOz

EDIT...love the COT panel!

 

[Gringotts Bank]

Nice squiggles guys. :

www.downloadfreesquiggles.com

 

[Trembling Hand]

Nice squiggles guys. :

www.downloadfreesquiggles.com

I'll get to that after i finish looking at,

www.anotherbrokenrandomline.com

 

[Gringotts Bank]

I'll get to that after i finish looking at,

www.anotherbrokenrandomline.com

Your squiggles make money?

 

[Trembling Hand]

Your squiggles make money?

Nah mate I just do this for hobby. One day I hope to be a pro, I'll then be able to quit my job packing shelves at night in the Frankston Coles.

you know what I mean yeah?

 

[Gringotts Bank]

Nah mate I just do this for hobby. One day I hope to be a pro, I'll then be able to quit my job packing shelves at night in the Frankston Coles.

you know what I mean yeah?

You'll get there. Just keep at it. Yahoo Finance is a great resource.

I'm going to bed now. Nighty night.

 

[Trembling Hand]

You'll get there. Just keep at it.

Yeah I know. Just gotta get that one line to work.... forget the 100 random ones that failed before it.

 

[nulla nulla]

Personaly I find it hard to believe that our market (XAO) can sustain the current rate of recovery for too much longer. I suspect that there will be one of two (2) outcomes:

1. A retrace from the 5000 level, followed by a sideways pattern ranging between 4500 and 5000 for several months; or

2. A sharp retrace from the 5000 level of 200 - 300 points followed by an even sharper rise (exhuberant spike) followed by an even more savage correction of 500+ points.

The global money printing exercise is doing little more than defer all the problems underpinning international economies. Until the U.S actualy does something to reduce their debt, we are just watching another bubble form. Naturally the volatility will provide plenty of opportunities to trade the various markets including the XAO.

 

[Gringotts Bank]

Ticky told me a heck of a lot of money flowed into European managed funds over the past month. They're no longer worried about countries collapsing due to their debt. Not that anything has changed with the PIIGS countries, just that sentiment has changed. When one influential group of investors decides they want to be positive (like a change of scenery), others will follow them like sheep. So I'm still waiting for the sentiment to swing back again.

Are we there yet?? I sold the rip now want some dip.

 

[tech/a]

Crunch time.

 

[robz7777]

Crunch time.

View attachment 50699

Should the wave 5s end in the coming week or so what would this signal to you?