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XAO Technical Analysis
- Thread starter Sean K
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Re: XAO Analysis
All 3 options are still in play but option 1(refer chart from quoted post) is becoming a very real possibility now.
Divergence looks to have unwound as well. The fact we've held above 3500 for the moment is quite bullish, obviously need a break & hold above 3800 to confirm this.
Has anyone else had trouble finding any good short set ups lately? I have been looking but all I keep finding are potential longs.
All 3 options are still in play but option 1(refer chart from quoted post) is becoming a very real possibility now.
Divergence looks to have unwound as well. The fact we've held above 3500 for the moment is quite bullish, obviously need a break & hold above 3800 to confirm this.
Has anyone else had trouble finding any good short set ups lately? I have been looking but all I keep finding are potential longs.
Trembling Hand
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Re: XAO Analysis
LOL. The Bears should be thanking me. my call was spot on - Start of a cascading sell off in the futs!!
LOL. The Bears should be thanking me. my call was spot on - Start of a cascading sell off in the futs!!
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Re: XAO Analysis
They have been slim pickings IMO. All continuations patterns to the long side, or base building for a breakout. A few shorts available for band trading but that is about all I have seen.
Sort of forces your hand into being bullish.
Sammy
They have been slim pickings IMO. All continuations patterns to the long side, or base building for a breakout. A few shorts available for band trading but that is about all I have seen.
Sort of forces your hand into being bullish.
Sammy
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Re: XAO Analysis
Sorry Guys but in MY VIEW ........... BHP one bewt of a short setup currently ..... MY opinion only , u guys read YOUR charts how YOU see them .
i am currently short BHP and looking to add to position along the way
unhappy to be wrong
but will get over it and move on ifso
Sorry Guys but in MY VIEW ........... BHP one bewt of a short setup currently ..... MY opinion only , u guys read YOUR charts how YOU see them .
i am currently short BHP and looking to add to position along the way
unhappy to be wrong
but will get over it and move on ifsoRe: XAO Analysis
Aren't you always short BHP though Nun?
Sorry Guys but in MY VIEW ........... BHP one bewt of a short setup currently ..... MY opinion only , u guys read YOUR charts how YOU see them .
i am currently short BHP and looking to add to position along the way
unhappy to be wrong
Aren't you always short BHP though Nun?
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Re: XAO Analysis
Hell no , i trade this overpriced stock both ways actually , long , short who cares , great stock to trade
Hell no , i trade this overpriced stock both ways actually , long , short who cares , great stock to trade
Sean K
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Re: XAO Analysis
Looks close to a decision point, although I think that support at 3625 will be the clincher. Will be the first lower low since the Mar 8 bottom. MACD looks ominous.
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Re: XAO Analysis
i have to agree, the momentum indicator is pointing downwards, me says, the further we go up in this bear market rally the harder we gonna come crashing down!
i have to agree, the momentum indicator is pointing downwards, me says, the further we go up in this bear market rally the harder we gonna come crashing down!
Trembling Hand
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Re: XAO Analysis
Yes yes we are overbought.
The problem with overbought/oversold is that to get back to "normal" two things can happen,
We reverse and go in the other direction.
Or
We Churn like we have for the last 3 weeks. dropping off the buying days from indicators that the sheeple use.
I may be wrong but most are looking for overbought to correct itself by dropping. IMHO it has actually done that by going nowhere.
Yes yes we are overbought.
The problem with overbought/oversold is that to get back to "normal" two things can happen,
We reverse and go in the other direction.
Or
We Churn like we have for the last 3 weeks. dropping off the buying days from indicators that the sheeple use.
I may be wrong but most are looking for overbought to correct itself by dropping. IMHO it has actually done that by going nowhere.
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Re: XAO Analysis
i'm waiting for it to establish itself over 3800 before i will enter any long positions, then 4200 looks like the next resistance.
i'm waiting for it to establish itself over 3800 before i will enter any long positions, then 4200 looks like the next resistance.
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Re: XAO Analysis
I'm agreeing with that underlined part particularly. None of my shorts this week worked and I seriously doubt it has anything to do with being too early. None of them wanted to go down despite my fervent invective! :swear:
I'm thinking this rally is just getting second wind. There's green everywhere today.
I'm agreeing with that underlined part particularly. None of my shorts this week worked and I seriously doubt it has anything to do with being too early. None of them wanted to go down despite my fervent invective! :swear:
I'm thinking this rally is just getting second wind. There's green everywhere today.
Re: XAO Analysis
I agree, hence in my last post saying the divergence has mostly unwound and option 1 on my chart looking more and more like a possiblity now. But of course it could still break either way from here.
The most of the time markets tend to do what the majority least expects.
I agree, hence in my last post saying the divergence has mostly unwound and option 1 on my chart looking more and more like a possiblity now. But of course it could still break either way from here.
The most of the time markets tend to do what the majority least expects.
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Re: XAO Analysis
So which one it’s gonna be, me personally expecting a decline (wishful thinking perhaps). That rebound off 3800 on the ASX200 looked pretty decisive with unusual heavy volume on all the stocks I’m watching, (mainly top 20) at the close.
How do you guys interpret that closing volume?
So which one it’s gonna be, me personally expecting a decline (wishful thinking perhaps). That rebound off 3800 on the ASX200 looked pretty decisive with unusual heavy volume on all the stocks I’m watching, (mainly top 20) at the close.
How do you guys interpret that closing volume?
Trembling Hand
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Re: XAO Analysis
Yes I did see that nomores.
Been thinking this for a while but since I will soon be bring out a Astro-analysis tip sheet all my calls will be in hindsite:
Yes I did see that nomores.
Been thinking this for a while but since I will soon be bring out a Astro-analysis tip sheet all my calls will be in hindsite
:
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Re: XAO Analysis
I'm only a couple points from stopping out my shorts too.
I would have thought to resolve the overbought position by "Staying still" would require a couple months, not just two weeks though?
I'm only a couple points from stopping out my shorts too.
I would have thought to resolve the overbought position by "Staying still" would require a couple months, not just two weeks though?
Trembling Hand
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Re: XAO Analysis
On the 27th of March we made a SPI high of 2720 something and a low of 3660 something. the same as yesterday. 1 month of going nowhere.
On the 27th of March we made a SPI high of 2720 something and a low of 3660 something. the same as yesterday. 1 month of going nowhere.
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Re: XAO Analysis
keep your guesses boys............
the XAO has got 1 maybe 2 tops,sideways spikes, then its all over red rover , new lows all round give or take a darling or 3
just my nunnerised opinion
pay no heed
keep your guesses boys............
the XAO has got 1 maybe 2 tops,sideways spikes, then its all over red rover , new lows all round give or take a darling or 3
just my nunnerised opinion
pay no heed
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Re: XAO Analysis
Futures up even as late as last trade this morning... Getting ready to close out my shorts...
Bam, Market goes down, bounces off 3800 again. Some trillionaire with endless stock is selling it all off every time it gets to like 3780 or something.
Is this a travel sideways, or is this just waiting for another leg down? It's killing me to find out...
Futures up even as late as last trade this morning... Getting ready to close out my shorts...
Bam, Market goes down, bounces off 3800 again. Some trillionaire with endless stock is selling it all off every time it gets to like 3780 or something.
Is this a travel sideways, or is this just waiting for another leg down? It's killing me to find out...
Re: XAO Analysis
nun, I sold off 25% of my holdings yesterday on my gut feeling. I am back to 50% cash now (of the bit that I allocate to equities). The other 50% is nearly all coal seam gas shares (+a few other energy stocks) so I'm happy to hold as I hate to miss out on any corporate action there. Fingers crossed for a down leg. It has been a nice bounce though....
nun, I sold off 25% of my holdings yesterday on my gut feeling. I am back to 50% cash now (of the bit that I allocate to equities). The other 50% is nearly all coal seam gas shares (+a few other energy stocks) so I'm happy to hold as I hate to miss out on any corporate action there.
Fingers crossed for a down leg. It has been a nice bounce though....