So jai, is this some sort of Gann analysis here?:ald:
So jai, is this some sort of Gann analysis here?
I wonder where we'll go today?
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.
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
My No-Gann & Billy Elliot systems are signalling a rise............
From the early morning lows...... Now which one and what time....
HA!!
Who said Voodoo doesn't work!!
Now if the RBA only goes 25 bps today and waffles on about inflation we could get another sell-off in the arvo.
We've bounced and run off about the area we should have IMO Dhukey.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?
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?
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%
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).
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...
I agree - put your shorts on boys, and we can all go for a surf tomozzo.
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
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...
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