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XAO Technical Analysis

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Re: XAO Analysis

Crossroads here and with NFP in US tonight its no real surprise . Daily looks tired up against resistance zone . Channel still holds , upper line hasnt been in play for weeks . Shaky atm with tonights results the obvious catalyst which ever way it goes .
 

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Re: XAO Analysis

Closer up on 2hr we still see impulsive type move with swing highs becoming support swing lows . Havent tested 5 day highs this week which gives a little weight to some bearish bias going forwards , this weeks lows key with last weeks high key upside . channel support another obvious level to watch . Close under that at on 2hr will be an alarm for me . Not hard to see a test of 5day lows in the short term . looking to be a pivotal time junction .
 

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Re: XAO Analysis

Interesting day on the XJO.

I would have been short if it closed below 4539. Managed to close just above.
 
Re: XAO Analysis

Traders Trick Entry. Yesterdays bar was a new high, so a break of it's low is a low risk entry. Just my
 
Re: XAO Analysis

skyQuake said:
Would have been ok for yesterday, but what about the staggered open in general for the XJO?
Click to expand...

I would look to do it on close. Or if there was a significant intraday drop. To confirm; I am not concerned with the previous days bar. I am concerned with the most recent high and the subsequent low of that high bar.

That make sense?
 
Re: XAO Analysis

After a little struggle for couple days it seems weve got the trendline break done and have put a lower swing low under 5day lows , resistance on futures was at 5day50 last night . im calling it an end to the trend as weve got the bend . 5day50 trending down so its ticking the boxes .... will do a chart later when im on other machine
 
Re: XAO Analysis


no commentary required for this really
 

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Re: XAO Analysis

Hey everyone,

Just look at the XJO, is looks really weak where we are right now.

We found a nice support at the 4200 level which alos formed a double bottom and then we had a nice run up but we have struggled on a number time to break through a 4600 level.

When I was looking at the weekly chart (below) you can see that we have two major resistance lines.

Because we failed to break above these lines ..I think we are in for a major down turn coming in the next 12 months or so.

Anyway.. this is what i see happening in the charts.

Hope this helps.
 

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Re: XAO Analysis

Emjai said:
Because we failed to break above these lines ..I think we are in for a major down turn coming in the next 12 months or so.
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I'm not sure about 12 months, might be 36 months. Might be 3.

Hard to call a time line on any non breakage of that resistance you've rightly pointed out really.

5000 on the way up is bigger fence to hurdle imo.
 
Re: XAO Analysis

kennas said:
I'm not sure about 12 months, might be 36 months. Might be 3.

Hard to call a time line on any non breakage of that resistance you've rightly pointed out really.

5000 on the way up is bigger fence to hurdle imo.
Click to expand...

Could go sideways for a long time !!!
 
Re: XAO Analysis

Yes, you are right.

The 5000 level was a really strong resistance we all can see that.

When we are looking to trade the market we only can use what we have right now..so that's why I'm pointing out where we are right now.

I also agree with you.. we never now how long it will take to get to a price.

Thanks for interacting.. its good to toss up ideas and other peoples opinions.
 
Re: XAO Analysis

kennas said:
I'm not sure about 12 months, might be 36 months. Might be 3.

Hard to call a time line on any non breakage of that resistance you've rightly pointed out really.

5000 on the way up is bigger fence to hurdle imo.
Click to expand...



I try and have no bias too far into the future as im more interested in profits rather than prophets . I trade the price action in front of me via 2 hourly charts , i use my anchor chart (daily) for reference levels and i generally never look beyond those reference points until they are broken . I am a trader not an analyst although i obviously use analysis to trade . I really have little interest in where the market will be in 6 months , more like 6 days , possibly only 6 hours and maximum about 6 weeks . Too much can occur to scuttle any analysis any further out . Its all about making money , im not interested in being proficient at guru analysis .


........... May profits be yours
 
Re: XAO Analysis

I totally agree with you.

I'm a day trader of the emini and 1-5 day trader in the Aussie market.

you are right.

Its all about making money.
 
Re: XAO Analysis

Hung parliament likely outcome. XAO/XJO going to be a bit spooked with no clear direction for a result?
 
Re: XAO Analysis

We are coming to a great opportunity soon. We have a resistant point at 4200. This means a great chance to buy. Even though we are still feeling the effect of GFC, We have not have massive worldwide news on companies collapsing. Based on this i cannot see 3100 being reached. Unless we have any savage new we should been seeing a bottom, then a start back to 5000 again by years end. All imho with fingers crossed.
 
Re: XAO Analysis

I think 4200 ish is support kash. Might be a buying op if you really think that will hold, but if it doesn't then we're in trouble. Next longer term support 4000..
 

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