XAO Technical Analysis

[sammy84]

Re: XAO Analysis

Too many people watching this potential H&S. Another possibility that will happen is that there will be a false break of the neck line...that line of support is on a lot of peoples watch list. The fundies might then step in, market could continue past the right shoulder and provide a bullish set-up.

 

[Garpal Gumnut]

Re: XAO Analysis

Too many people watching this potential H&S. Another possibility that will happen is that there will be a false break of the neck line...that line of support is on a lot of peoples watch list. The fundies might then step in, market could continue past the right shoulder and provide a bullish set-up.

Its an a ascending triangle mate, and you could be on the money.

They are a powerful TA setup.

Still its a h and s

I'll wait and see before I put my hard earned on to it.

gg

 

[sammy84]

Re: XAO Analysis

Its an a ascending triangle mate, and you could be on the money.

They are a powerful TA setup.

Still its a h and s

I'll wait and see before I put my hard earned on to it.

gg

Curtis Arnold in his PPS system identified H&S patterns that could be traded to the long side. When an index/stock is an uptrend and then starts to consolidate, if a H&S is formed, a break of the right shoulder creates a long set-up. In many cases this sort of set-up will also form an ascending triangle, but they are still nevertheless two different patterns.

Same as you however, not trading either set-up, this market will give us a direction soon enough. I'm finding it hard to find short set-ups at the moment however....

 

[Garpal Gumnut]

Re: XAO Analysis

Curtis Arnold in his PPS system identified H&S patterns that could be traded to the long side. When an index/stock is an uptrend and then starts to consolidate, if a H&S is formed, a break of the right shoulder creates a long set-up. In many cases this sort of set-up will also form an ascending triangle, but they are still nevertheless two different patterns.

Same as you however, not trading either set-up, this market will give us a direction soon enough. I'm finding it hard to find short set-ups at the moment however....

Agree mate, if in doubt, stay out.

gg

 

[Private Trader]

Re: XAO Analysis

I see a fake break to the downside (between 3722 - 3757) before the bulls take charge & push the index to between 4101 - 4116.

Note the divergence between the On Balance Volume & the Chart.

Either way it should make an interesting ride.

Good Trading!!!

 

[Garpal Gumnut]

Re: XAO Analysis

I see a fake break to the downside (between 3722 - 3757) before the bulls take charge & push the index to between 4101 - 4116.

Note the divergence between the On Balance Volume & the Chart.

Either way it should make an interesting ride.

Good Trading!!!

Good point PT.

Its exciting.

Either increase ones kopeks or go broke.

The volume is crazy, then the markets are crazy atm.

gg

 

[tech/a]

Re: XAO Analysis

I see a fake break to the downside (between 3722 - 3757) before the bulls take charge & push the index to between 4101 - 4116.

Note the divergence between the On Balance Volume & the Chart.

Either way it should make an interesting ride.

Good Trading!!!

Interesting.
You equate rising volume to rising markets?

A number of markets are showing similar patterns.
All bearish.
Strange to have a contrarian view.

 

[Garpal Gumnut]

Re: XAO Analysis

Point taken tech

g

 

[Sean K]

Re: XAO Analysis

Interesting.
You equate rising volume to rising markets?

I wouldn't be too happy with rising volume in a downward move, if that was the case.

eeeeek

 

[Garpal Gumnut]

Re: XAO Analysis

I wouldn't be too happy with rising volume in a downward move, if that was the case.

eeeeek

agree Kennas, though it depends where the close ends on the bar.

gg

 

[Private Trader]

Re: XAO Analysis

Interesting.
You equate rising volume to rising markets?

A number of markets are showing similar patterns.
All bearish.
Strange to have a contrarian view.

Just want to clarify my view.
1) OBV - Is a measure of supply & demand. Demand has increased whilst prices have decreased, signalling an upturn will likely occur in the near future.
2) Dow Theory - 3rd time frame signals a change in trend, after a bounce at 50% retraction of the march bull run.
3) Gann Swing Charts - Daily charts indicate a turn in trend, validating the long term trend.

Good Trading!!!

 

[Garpal Gumnut]

Re: XAO Analysis

Just want to clarify my view.
1) OBV - Is a measure of supply & demand. Demand has increased whilst prices have decreased, signalling an upturn will likely occur in the near future.
2) Dow Theory - 3rd time frame signals a change in trend, after a bounce at 50% retraction of the march bull run.
3) Gann Swing Charts - Daily charts indicate a turn in trend, validating the long term trend.

Good Trading!!!

Sometimes!!!!!!!!!!!!!
I always interpret an increase in volume with 3 bars down closing towards the lows as selling ++
I see it on weeklies which take the noise out of the strum of daily trading.
The rest of yer points are best addressed by the techies,

gg

 

[Garpal Gumnut]

Re: XAO Analysis

I see nothing to indicate on the charts of the xao that we are not at the beginning of a wave 5, and hopefully the last downward movement in this bear market.

The chart is moving as I suggested a week or so ago.

Enclosed is a weekly of the xao.


gg

 

[Sean K]

Re: XAO Analysis

Just polishing up the crystal ball and I see a another potential H&S forming up.

Breaking 3800 might be the catalyst, but there's plenty of support around 3700-50 ish. Interesting juncture.

 

[jonojpsg]

Re: XAO Analysis

Breaking 3800 might be the catalyst, but there's plenty of support around 3700-50 ish. Interesting juncture.

Mmmm yep, I'd say that if 3700 breaks then the @#%! will hit the fan

 

[naughtynickers]

Re: XAO Analysis

Mmmm yep, I'd say that if 3700 breaks then the @#%! will hit the fan

well we will find out today as 3700 will surely be breached by 10:08AM

 

[tech/a]

Re: XAO Analysis

Just want to clarify my view.
1) OBV - Is a measure of supply & demand. Demand has increased whilst prices have decreased, signalling an upturn will likely occur in the near future.
2) Dow Theory - 3rd time frame signals a change in trend, after a bounce at 50% retraction of the march bull run.
3) Gann Swing Charts - Daily charts indicate a turn in trend, validating the long term trend.

Good Trading!!!

Oh Yogi.

Hmm volume has increased NOT demand.
Volume has increased due to selling into muffins.

Rest is rubbish.

Nothing has changed from my original analysis.
Post #6590

 

[Sunder]

Re: XAO Analysis

well we will find out today as 3700 will surely be breached by 10:08AM

Damn, I thought it would as well, but unless we lose another 20 odd points in the next 2 hours, I don't think it will.

I'm thinking of extending my shorts of the XJO if we break 3700 and confirm.

 

[gfresh]

Re: XAO Analysis

2pm programmed buying across the board.. some good volume, this ship is turning around for a little bit (maybe!)

 

[skyQuake]

Re: XAO Analysis

2pm programmed buying across the board.. some good volume, this ship is turning around for a little bit (maybe!)

And dragged the SPI along. Citi started buying bhp at 1:30 and lots others.
Dragggged the SPI up

..and the XJO closes UP 1 point today lol..