Australian (ASX) Stock Market Forum

XAO Technical Analysis

Jump to new
Re: XAO Analysis

BNECBD_DayTrader said:
The market will go where it wants to. Every time frame on the chart will look great in hindsight.
Click to expand...

True.
But if you look back through the thread you'll see we have it pretty right most of the time.

If you really believe you cant skew price action in your favor to profit from aparent random price action---you---or anyone who truely believes in a totally random market--- must gamble--not trade.
 
Re: XAO Analysis

ginar said:
comments like that are one of the reasons im reluctant to ever post on any australian forum . im not going to try and prove you wrong , im just going back into the cupboard and continue on with my trading in peace

good luck to all
Click to expand...

Have to agree, if you have nothing constructive to contribute then dont say anything. This thread is for analysis and all charts are welcomed. Pathetic comments from mindless douchebags are not.
 
Re: XAO Analysis

ginar said:
comments like that are one of the reasons im reluctant to ever post on any australian forum . im not going to try and prove you wrong , im just going back into the cupboard and continue on with my trading in peace

good luck to all
Click to expand...

What is the relevance of the word Australian in your above comment?
 
Re: XAO Analysis

Hey ginar, just ignore BNECBD, I reckon your chart looks spot on and gives some key points to look for over the next two days that could net a nice move (down IMO).
 
Re: XAO Analysis

BNECBD_DayTrader said:
Jersey10 there is no relevance.

I feel its amateur hour currently on this forum.
Click to expand...

There is now a possibility that there will be an alternate wave count toward 4600.

However like all analysis to be confirmed.
For those un interested in comments from the amateur's here just tick ignore poster.

BNECBD_DayTrader---Im still happy to read your posts though.
 
Re: XAO Analysis

nomore4s said:
I also agree with you Prof, without doing a proper analysis there appears to be quite a bit of strength behind this move and I currently don't think the low from the 21st of May will be breached in the near term but in saying that I also don't think we are going to zoom to new highs either. And I'm also expecting some mild weakness over the next few days.

Again without doing a proper analysis I think we won't see new lows or a serious attempt to push through 4200 until around Sept/Oct, but the market will do what the market wants.
Click to expand...

This analysis still stands and I think we will just travel sideways for a while probably between 4200-4700.
 
Re: XAO Analysis

iownasx said:
well these recent developments are unexpected...
Click to expand...

Unexpected for some , no surprise to me .

bit closer and we live above the 5day 50 so far today with it providing support , i dont like to see price above this level after i get crossover , can indicate a weaker trend especially since we did challenge 5 day lows . the 5 day 50 is again trending up which generally doesnt bode well for trend change sticking . key levels marked on charts . still looks a coin toss
Click to expand...

trend change didnt stick and price action told the story , the 5day50 needs to become resistance once a xover occurs . the channel held , we didnt see new 5 day lows and since weve gone onto new 5 day highs , the headfake sucked in a few no doubt
 

Attachments

  • ScreenShot292.png
    ScreenShot292.png
    118.3 KB · Views: 11
Re: XAO Analysis

only thing of note on daily is a break of TLR , june highs key forward from here with the trendline support from 6july lows the key level to look at on downside .... structure tells the story ... reading structure is the key
 

Attachments

  • ScreenShot293.png
    ScreenShot293.png
    75.9 KB · Views: 18
Re: XAO Analysis

professor_frink said:
What do you mean by "50 day50" ginar?
Click to expand...

5day50 is low / high / close divided by 3 over a 5day period . i calculate it on a 2 hour adjusted to reflect 5 days , its a little more dynamic that way . its all variations on some of deelites work
 
Re: XAO Analysis

ginar said:
5day50 is low / high / close divided by 3 over a 5day period . i calculate it on a 2 hour adjusted to reflect 5 days , its a little more dynamic that way . its all variations on some of deelites work
Click to expand...

ok gotcha.

Thanks for that:)
 
Re: XAO Analysis

looking impulsive with previous resist becoming support . another headfake to excite bears with channel test but no close below on 2 hour , almost a xover with 5day lows proving to be support , back above the 5day50 again today with 5 day highs key resistance and this mornings gap key dside key level in the short term .
 

Attachments

  • ScreenShot294.png
    ScreenShot294.png
    104.8 KB · Views: 17
Re: XAO Analysis

This thread has gone quiet with the market drifting up. I notice the reduced volume on many issues that are at resistance. If I was playing the short side of the market I would be getting set at these levels, however I don't, so I will be in cash for the next little while. There is a chance that this is the top for a month or 2.

Tomorrows test of ~4650 on the XAO will tell the story, same as the test of resistance for both the SPX and FTSE.

brty
 
Re: XAO Analysis

brty said:
This thread has gone quiet with the market drifting up. I notice the reduced volume on many issues that are at resistance. If I was playing the short side of the market I would be getting set at these levels, however I don't, so I will be in cash for the next little while. There is a chance that this is the top for a month or 2.

Tomorrows test of ~4650 on the XAO will tell the story, same as the test of resistance for both the SPX and FTSE.

brty
Click to expand...

Nice call brty:)
 
Re: XAO Analysis

It's a bit early to declare it a "nice call" prof.

Let's just wait a week or so, of course by then I could have changed my mind depending on the market action.

brty
 
Re: XAO Analysis

brty said:
It's a bit early to declare it a "nice call" prof.

Let's just wait a week or so, of course by then I could have changed my mind depending on the market action.

brty
Click to expand...

Sorry brty, I sometimes forget that not everyone else is a swing trader:eek:
 
Top