XAO Technical Analysis
- Thread starter Sean K
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Re: XAO Analysis
Up.
Up.
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Re: XAO Analysis
well m y guess has cash behind it , refer to post before by me
well m y guess has cash behind it , refer to post before by me
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Re: XAO Analysis
was long on the open
closed half already
trailing atm
was long on the open
closed half already
trailing atm
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Re: XAO Analysis
The XAO approached the 3850 mark today (3858) but the wave structure still looks incomplete. A further decline may occur tomorrow, but the closing wave structure today also supports the start of the next leg up in the wave 4 triangle into the 4100-4200 target area.
If a further decline occurs on the XAO in the coming days then 3750 could be the approximate target area.
The XAO approached the 3850 mark today (3858) but the wave structure still looks incomplete. A further decline may occur tomorrow, but the closing wave structure today also supports the start of the next leg up in the wave 4 triangle into the 4100-4200 target area.
If a further decline occurs on the XAO in the coming days then 3750 could be the approximate target area.
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Re: XAO Analysis
Agreed Ozwaveguy, 3750 looks better for this triangle to be in proportion here, if it does not get down that far, then the triangle scenario might be in question.
ATM wave d might looks to be a touch shallow, and the index looks like it might rally if it breaks above 4200. Either way, we should know by early next week. Today marked a minor cycle low. The next minor cycle high is not till 18/19th Nov.
So really at present it's a matter of triangulating the triangle!!
Agreed Ozwaveguy, 3750 looks better for this triangle to be in proportion here, if it does not get down that far, then the triangle scenario might be in question.
ATM wave d might looks to be a touch shallow, and the index looks like it might rally if it breaks above 4200. Either way, we should know by early next week. Today marked a minor cycle low. The next minor cycle high is not till 18/19th Nov.
So really at present it's a matter of triangulating the triangle!!
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Re: XAO Analysis
This has little to do with the XAO and relates to the DJIA, but thought I would post it here anyway:-
A quick comparison between crash lows in 1929 and now. I wouldn't put my money on it. It seems too circumstantial, but it does oddly enough though support the bullish stance.
What is the conclusion for the chart below? Well, IF you believe it has any merit (and that can arguably be a big IF), then we are about to embark on another leg up.
Maybe tonight will give more clarity on this issue.
This has little to do with the XAO and relates to the DJIA, but thought I would post it here anyway:-
A quick comparison between crash lows in 1929 and now. I wouldn't put my money on it. It seems too circumstantial, but it does oddly enough though support the bullish stance.
What is the conclusion for the chart below? Well, IF you believe it has any merit (and that can arguably be a big IF), then we are about to embark on another leg up.
Maybe tonight will give more clarity on this issue.
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Re: XAO Analysis
Luv ya work!
Take profit, let the rest ride...
Was thinking about doing similar myself!
Luv ya work!
Take profit, let the rest ride...
Was thinking about doing similar myself!
Re: XAO Analysis
As I frequently point out, that trend was broken forever by high inflation in the 1970s and 1980s. See here, showing how the trend has shifted.
You either need to correct for CPI, or (better) look at the ratio of All Ords to GDP. See here.
We have clearly been above trend (although not as far as 1987), but anything below 4000 is already approaching historical lows.
As I frequently point out, that trend was broken forever by high inflation in the 1970s and 1980s. See here, showing how the trend has shifted.
You either need to correct for CPI, or (better) look at the ratio of All Ords to GDP. See here.
We have clearly been above trend (although not as far as 1987), but anything below 4000 is already approaching historical lows.
tech/a
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Re: XAO Analysis
That ridiculous figure of 1500 seems more likely every day.
The next interest drop likely to be another 1% is unprecedented in my time,such huge drops in such a short time.
It appears to me that world financial experts are struggling to control the downward spiral.
There is another summit days away,as they struggle to keep ahead of this.
Not all are going to be "saved" the US and the Aussie car markets are under threat.
Highly likely that the "bottom" isn't in and wont be for sometime.
A market best avoided as we can only be on the long side.
Those accumulating "Bargains" maybe bitterly disappointed as time is likely to re value many.
That ridiculous figure of 1500 seems more likely every day.
The next interest drop likely to be another 1% is unprecedented in my time,such huge drops in such a short time.
It appears to me that world financial experts are struggling to control the downward spiral.
There is another summit days away,as they struggle to keep ahead of this.
Not all are going to be "saved" the US and the Aussie car markets are under threat.
Highly likely that the "bottom" isn't in and wont be for sometime.
A market best avoided as we can only be on the long side.
Those accumulating "Bargains" maybe bitterly disappointed as time is likely to re value many.
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Re: XAO Analysis
"ASIC today said it would extend the ban on covered short selling for non-financial securities for a further 28 days until 18 November 2008, when it expected the ban would be lifted."
Source: http://www.asic.gov.au/asic/asic.ns...nds+ban+on+covered+short+selling?openDocument
I agree but not for much longer.
"ASIC today said it would extend the ban on covered short selling for non-financial securities for a further 28 days until 18 November 2008, when it expected the ban would be lifted."
Source: http://www.asic.gov.au/asic/asic.ns...nds+ban+on+covered+short+selling?openDocument
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tech/a
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Re: XAO Analysis
Nun, You may have been 1 day early in your call for a bounce. Let's see where the XAO goes today after this mornings declines.
Nun, You may have been 1 day early in your call for a bounce. Let's see where the XAO goes today after this mornings declines.
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Re: XAO Analysis
yeah m8 , cheers
will see if stops are hit , no intention of acting on the usual market open auction panic
yeah m8 , cheers
will see if stops are hit , no intention of acting on the usual market open auction panic
chops_a_must
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Re: XAO Analysis
I've been trading long the Australian market, and only going short in the US. It's worked thus far. Only have 1 long to get out of here.
91, 92?
You have IB don't you Tech?
I've been trading long the Australian market, and only going short in the US. It's worked thus far. Only have 1 long to get out of here.
Yes, that's it. Allow your losers to run in a highly volatile market in the hope that your analysis is right.
chops_a_must
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Re: XAO Analysis
And be careful with the afternoon forced selling. That's likely to start up again on this move down I would assume.
And be careful with the afternoon forced selling. That's likely to start up again on this move down I would assume.
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Re: XAO Analysis
no my stops are my planned stops from trade entry , no intention of following anything down regardless of direction after percieved , also not in the habit of joining the other panicers on auction / early open either
this trade is like any other trade and dealt with accordingly . i stop out , so be it , i re-enter so be it , doesent hit my stops so be it.
no my stops are my planned stops from trade entry , no intention of following anything down regardless of direction after percieved , also not in the habit of joining the other panicers on auction / early open either
this trade is like any other trade and dealt with accordingly . i stop out , so be it , i re-enter so be it , doesent hit my stops so be it.
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Re: XAO Analysis
yes always a factor when supports are broken , margin call times in the arvo aint it ? dunno .. just what i hear from round the traps , never had one
oh and cheers for thoughts
yes always a factor when supports are broken , margin call times in the arvo aint it ? dunno .. just what i hear from round the traps , never had one
oh and cheers for thoughts
chops_a_must
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