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XAO Technical Analysis

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Re: XAO Analysis

ooops hang on . i may have to confer with skyquake and ask him to do me a favour for the next cupla days so i dont lose too much face on an internet forum again with my outlandish calls
 
Re: XAO Analysis

nunthewiser said:
ooops hang on . i may have to confer with skyquake and ask him to do me a favour for the next cupla days so i dont lose too much face on an internet forum again with my outlandish calls
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Psst! I have heard from a very reliable source of mine that Old man Rockefeller and Mr JP Morgan himself are buying some uh... PHW. All the stock they can lay their hands on! You'll do very well if you jump in before them and pay the spread, and be doubly sure you take out that line for 3.3 Million shares at 2.4c for your own benefit. Post hate nun before everyone else dives into this mad rush!
 
Re: XAO Analysis

skyQuake said:
Psst! I have heard from a very reliable source of mine that Old man Rockefeller and Mr JP Morgan himself are buying some uh... PHW. All the stock they can lay their hands on! You'll do very well if you jump in before them and pay the spread, and be doubly sure you take out that line for 3.3 Million shares at 2.4c for your own benefit. Post hate nun before everyone else dives into this mad rush!
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lol cheers for the heads up !

with the amount of contacts you got , are you sure your not marilyn monroe ?
 
Re: XAO Analysis

Thank you for all the ramblings regarding Elliot theory and $500. i'm sure
most of us though are interested in the title of the thread, the XAO and
a discussion regarding what it is doing/where it is going.

accumulation, consolidation, distribution is what we should be looking
to identify using different time frames to form the basis of our trading.
EW an all is fine but it is very SUBJECTIVE and relies on a persons opinion,
all though all trading does, as gamblers we must try and eliminate as
much subjectiveness as possible. i think many of these theories simply
are a barrier for us to simply see what the chart is telling us, not what
we want it to say. it may work for some like the tech man but i think
many would have missed out on this magnificent rally because they thought
the turning point back down to a new wave 3 or 4 or what ever would occur
at 4000, but it didn't so they changed their mind and said it would occur
at 4200. it turns out they were wrong and if they only listened to what
the market was really telling them through a rising wave they would have
made money. unfortunately sins of omission are present far more then
sins of commission in our markets.


WEEKLY

xaoweeklyaug1.png

DAILY

xaodailyaug3.png

short term the market looks over extended, sideways action could occur like
we've seen previously, when this has occurred the market has dropped then
rebounded. no reason why this couldn't happen again. the market is very
bullish though and as looking at the weekly chart there is still plenty of room
to push higher. a move to 4600 within the next two months is very possible
if the news continues to be seen by the public as good.

of course this could be wrong and bears could come in and push the market
down, it doesn't look like it but it is obviously a possibility so protect using
stops as usual.

i do think we will see 4600 but a decline within the wave is possible and
probable to shake out the weak.

gotta fly :2twocents wonder.
 
Re: XAO Analysis

So let me get this right. One method is of no use because its to "subjective" but the "better" method thats put forward is followed with the lines,

short term the market looks over extended
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sideways action could occur
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no reason why this couldn't happen again
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a move to 4600 within the next two months is very possible
if the news continues to be seen by the public as good.
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of course this could be wrong
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it doesn't look like it but it is obviously a possibility
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so protect using stops as usual.
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why because you need to protect against a subjective opinion being wrong?
I do think we will see 4600 but a decline within the wave is possible
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LOL
 
Re: XAO Analysis

It`s an ingrained part of Australian culture to knock someone if they`re wrong or make a mistake.
 
Re: XAO Analysis

You beat me to it TH. I couldn't help but laugh as I was reading wondermans post.

You could play spot the contradiction with that post. Also...finding an apparent trend line in no way eliminates subjectiveness and it also doesn't really help tell you what the market is going to do. Furthermore not sure about the call about the XAO being overextended, one only needs to look at the last rally to see that the market can remain in what is a perceived state of over extendedness for quite some time.
 
Re: XAO Analysis

cool :D we have one definate "mkt going up " . and one it will go up if it doesent go down ...and another call that mr jp morgan and marilyn monroe may have been an item


looks like my call of today being the top for a few days WILL be correct :cool:
 
Re: XAO Analysis

Kennas.

Ive tried to give you a running chart commentary hope it helps.
By the way the waves are labelled by the software and are algorithms.
Purists may not agree with the labelling. It serves its purpose for me.
 

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Re: XAO Analysis

nunthewiser said:
cool :D we have one definate "mkt going up " . and one it will go up if it doesent go down ...and another call that mr jp morgan and marilyn monroe may have been an item


looks like my call of today being the top for a few days WILL be correct :cool:
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Sheeek, I better not upset the math. :)
 
Re: XAO Analysis

What! The yanks didn't get the memo? Bugger, just have to send it again! :(

ooooh 1000 on the S&P!
 
Re: XAO Analysis

tech/a said:
Kennas.

Ive tried to give you a running chart commentary hope it helps.
By the way the waves are labelled by the software and are algorithms.
Purists may not agree with the labelling. It serves its purpose for me.
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Thanks Tech. Do you personally favour this count now, or prefer that we're still in a W4 waiting for the next leg down?
 
Re: XAO Analysis

oo-er missus, I reckon those shorts must be feeling a little tight :eek:

Opening gap & run at this stage of the rally - either we're bolting into the great beyond or we're close to exhausting. I'm leaning toward the latter
 
Re: XAO Analysis

Edwood said:
Opening gap & run at this stage of the rally - either we're bolting into the great beyond or we're close to exhausting. I'm leaning toward the latter
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As per my pulling and pushing on the string we will get the next important move at 11:43. Stay tuned for direction. ;)
 
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