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XAO Technical Analysis

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Re: XAO Analysis

kennas said:
So jai, is this some sort of Gann analysis here?

I wonder where we'll go today?

;)
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My No-Gann & Billy Elliot systems are signalling a rise............

From the early morning lows...... Now which one and what time....
 
Re: XAO Analysis

Actually very disappointed in that rally into the US close we had the set up of some real fear and give up when the dow was down 700 odd points.

Oh well. Now we get just another down day.
 
Re: XAO Analysis

TH,

Did you get any sleep last night??

It is relevant because I have noticed a change in my trading performance in the past due to a bit of sleep deprivation.

Just something for all traders to be aware of in the age of 24 hour markets.

When performance changes and you start thinking it was just a bad day, it could be partially the sleep factor.

brty
 
Re: XAO Analysis

Trembling Hand said:
Actually very disappointed in that rally into the US close we had the set up of some real fear and give up when the dow was down 700 odd points.

Oh well. Now we get just another down day.
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Yeah that was disappointing, these orderly declines are becoming a little boring. Now if the RBA only goes 25 bps today and waffles on about inflation we could get another sell-off in the arvo.
 
Re: XAO Analysis

brty said:
TH,

Did you get any sleep last night??

It is relevant because I have noticed a change in my trading performance in the past due to a bit of sleep deprivation.

Just something for all traders to be aware of in the age of 24 hour markets.

When performance changes and you start thinking it was just a bad day, it could be partially the sleep factor.

brty
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LOL. Yep I'm pretty aware of the mind going nutz from lack of sleep. In a previous life I owned bakeries. Ive done my fair share of 36 hour shifts :bloated:

But when its raining cats and dogs from a cloud with a silver lining you got to make hay. :70:
 
Re: XAO Analysis

dhukka said:
Now if the RBA only goes 25 bps today and waffles on about inflation we could get another sell-off in the arvo.
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No waffling there, looks like the RBA are on the case. This is like watching the same movie over again, remember those euphoric Fed rate cuts? How effective were they in the end?
 
Re: XAO Analysis

dhukka said:
No waffling there, looks like the RBA are on the case. This is like watching the same movie over again, remember those euphoric Fed rate cuts? How effective were they in the end?
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We've bounced and run off about the area we should have IMO Dhukey.

Lots of support where the US markets are now as well. At the worst we'll get choppy trading for a little while here IMO.

First real area for having a nibble at bottom drawers for me...
 
Re: XAO Analysis

dhukka said:
No waffling there, looks like the RBA are on the case. This is like watching the same movie over again, remember those euphoric Fed rate cuts? How effective were they in the end?
Click to expand...

This is obviously a classic pump and bump in the futs.

Criminal!! When is Kev 747 going to out-law buying the futs?? :p:
 
Re: XAO Analysis

The cut has also give the Nikkei, Kospi, as well as the little old market in the US a big kick along.

LoL tail waging the dogie.
 
Re: XAO Analysis

Story going around that the big banks are working in unison to reduce rates world wide to improve the credit markets which is why the Aus Reserve reduced 1% instead of the anticipated .5%
 
Re: XAO Analysis

TheAbyss said:
Story going around that the big banks are working in unison to reduce rates world wide to improve the credit markets which is why the Aus Reserve reduced 1% instead of the anticipated .5%
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Yeah, I've heard that too. We might finally get some meaningful international cordination gong here now to get out of this pothole.

Probably Aus was good place to start with our banks in better position than most... which brings me to...

OzWaveGuy said:
The XAO continues to drive down, and should now become more aggressive now that it is has entered Wave iii of (iii). The previous alternate count for wave c completing wave ii should be well and truly out of the picture.

There was some discussion last week that wave (IV) up in the diagram appeared to be impulsive (5 waves) that would have allowed further upside potential. It turned out not to be the case, and if fact was a double zig-zag correction. One giveaway (after further analysis) was the wave structures in wave (IV) operate very tightly between parallel lines - pointing to a corrective wave versus an impulse wave. Almost all impulse waves fall outside the parallel lines quite considerably. In many cases what looks like a "perfect" elliott wave where all points (5) touch the parallel lines are in fact double (or triple) corrective waves.

In the short term, Wave (V) appears to be subdividing and will become the extended wave count, suggesting further downside action before a correction plays out and will form wave II circle up. The aggressive downtrend will then continue (for some time).
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Hey, OzWaveGuy... a few days ago I contemplated a five count down leg too, but I'm still leaning toward the Expanded Flat wave one reversal scenerio on my indicators.

Just looking at your chart what do you think about a zig zag wave b, ie wave b bottom about todays low?
 

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Re: XAO Analysis

chops_a_must said:
We've bounced and run off about the area we should have IMO Dhukey.

Lots of support where the US markets are now as well. At the worst we'll get choppy trading for a little while here IMO.

First real area for having a nibble at bottom drawers for me...
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my call chops regardless if u want it or not ..........

this aint the bottom , we have not seen the low as yet BUT this SHOULD be a nice lil sucka rally , very tradeable very suckable ...

not gunna call a base number as in my book its currently unforseeable BUT will stick neck and nuts out saying we havent seen it yet

cheers

a non bottom found nun
 
Re: XAO Analysis

nunthewiser said:
my call chops regardless if u want it or not ..........

this aint the bottom , we have not seen the low as yet BUT this SHOULD be a nice lil sucka rally , very tradeable very suckable ...

not gunna call a base number as in my book its currently unforseeable BUT will stick neck and nuts out saying we havent seen it yet

cheers

a non bottom found nun
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I agree. But this 'should' be about the zone of a short term bottom. Long term trend lines point towards 3800-4000, but I have been playing to this area for nearly a year now...

Need to see how it reacts and what plays out from here, to know the next move...
 
Re: XAO Analysis

chops_a_must said:
I agree. But this 'should' be about the zone of a short term bottom. Long term trend lines point towards 3800-4000, but I have been playing to this area for nearly a year now...

Need to see how it reacts and what plays out from here, to know the next move...
Click to expand...

yep , make hay while the sun shines some mortgaged to the hilt farmer once told me :)
 
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