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XAO Technical Analysis

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Re: XAO Analysis

Well Kennas if you look at your chart every time it hits the outter range it has fallen heavily so with my Slim TA knowledge wouldnt this mean we would be expecting another major fall soon or is it just my different point of view of the same facts..

Maybe on Wednesday the trap door will open and the share market will plummet like it has the last few times could be 2500 this time
 
Re: XAO Analysis

Sorry Kennas but I stole your chart and added in two other lines which i think may help with analysis of XAO
 

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Re: XAO Analysis

Putting the line were i did or were you would at 4850 all depends on what your trying to prove... TA is only ever right If it fits your opinion..

The lines I placed were only supporting my view of a breakdown.. however I would most likely normally placed a few more lines in one just above 5500 the 6000 one i would of shifted down a little added one at 4900 one at 4000 and one at 3500 and one at 3100

however all of those line are all based on your chart time scale with a different time scale for each candle stick the lines could easily and I know they would be different.
This one shows that we are still quiet Bearish doesnt it.
 

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Re: XAO Analysis

enigmatic said:
Putting the line were i did or were you would at 4850 all depends on what your trying to prove... TA is only ever right If it fits your opinion..
Click to expand...
I thought it was generally accepted that most resistance on the way back up is where previous lows were, that's all. I'm probably wrong.
 
Re: XAO Analysis

Are the small red (March bottom) candles on enigmatic's chart relevant
to anything? :dunno: can that low volume mean anything?

It is a volume candle chart right?
 
Re: XAO Analysis

I'm Sure your more likely to be correct then myself kennas,
I think my point was more that you can In theory places the lines any were depending on time scale and what your intended outcome.

with however your statement about them being at the previous low, could there not be some sort of overshoot resistance my be at 4900 however if something occurs to shortly break through resistance for the day on a day by day candlestick or week by week candlestick trend are we actually going to see the support line at 4900 or is it going to be seen at 4850.

And my chart is a Monthly chart so the small red candlesticks in March may or may not be relevent
 
Re: XAO Analysis

Most of this analysis is on the Elliott Thread
but this seems to be playing out perfectly so far
 

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Re: XAO Analysis

kennas said:
Could we be in a W2 at the moment Tech, about to start W3?
Click to expand...

I really doubt it.

The weekly is in a wave 4 corrective move so I see this as a wave "A" on the daily.5 waves up and 3 down.
But if price action negates the current count as you know there will be another.

But for the time being will remain bullish.Thats really all I need to know.
 
Re: XAO Analysis

This is actually a chart of the XJO which I find has been fairly predictable.

Assuming that it will continue to bounce between Decision Points then something will have to give when it gets to around the 3900 area.
A break up through that area would be a significant move in the right direction.

tech/a or anyone using AGET I suspect that you may have a MOB around the 3900 area also on the XJO ?

(click to expand)
 

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Re: XAO Analysis

saiter said:
This is how I'm seeing it as well. Also, the Dow also seems to be in/wrapping up a W2 at the moment.
Click to expand...

I don't do waves, but the trend is down so I'll put in a bid for a major crash on the DOW within a week, 2 at most. This is based on reading a number of US souces, but especially this one: zero hedge.

"Anyone who is doing anything sensible right now is either losing money or is out of the market entirely." These are the words of a quant trader, who is seeing something scary in the capital markets. Scary enough to merit a warning that we could be on the verge of another October 87, August 2007, or January 2008.
Click to expand...

Lots of charts, lots of reading. And where the DOW goes, the ASX shall surely follow before too long.:eek:
 
Re: XAO Analysis

davo8 said:
I don't do waves, but the trend is down so I'll put in a bid for a major crash on the DOW within a week, 2 at most. This is based on reading a number of US souces, but especially this one: zero hedge.



Lots of charts, lots of reading. And where the DOW goes, the ASX shall surely follow before too long.:eek:
Click to expand...

The only convincing projection that I can do on the xao is included.

Testing 3000 has found support.

It may breach this but should hold just below.

If it falls below 2800 then it is women and children last!

It will take until late 2010 on the trendline for this "correction" to work itself out.

gg
 

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Re: XAO Analysis

davo8 said:
I don't do waves, but the trend is down so I'll put in a bid for a major crash on the DOW within a week, 2 at most. This is based on reading a number of US souces, but especially this one: zero hedge.
Lots of charts, lots of reading. And where the DOW goes, the ASX shall surely follow before too long.:eek:
Click to expand...

Zero Hedges' argument is based on volume stats, and Goldman Sachs & their capital raising smoke & mirrors show to pump the sp. Where this ends up will have an effect on the XAO, eventually. This is a weekly chart, notice the decreasing volume......ascending wedge.....hitting downtrend line???
 

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Re: XAO Analysis

Looking specifically at the upcoming Anzac Day Holiday and it's relationship to the XAO, historically the index has performed reasonably well 2 weeks before the 25th of April.

I wouldn't be surprised to see the index continue upwards considering the recent 'bumps' have failed to correct the index down to lower levels since the start of the recent rally.

I certainly won't be discounting a larger downwards correction considering the divergence on a number of momentum indicators - however, such indicators can be divergent for some time before a larger correction or change in trend eventuates.

Historically, after Anzac Day the immediate trend was down 8 out of 11 years.
 

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Re: XAO Analysis

Been a pretty good run since the potential bottom. So far. Haven't made the most of it unfortunately, but glad not to have completely hibernated. Has been an awesome opportunity really. Just checking a few resourse stocks and we have 100% plus gains, and more.

3700-3750 looks important here. There should be some decent consolidation soon you'd expect, and about here for mine. If not here, then :confused:
 

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