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XAO Technical Analysis

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Re: XAO Analysis

I'm not sure if it's completely broken yet. Yesterdays recovery was pretty good. However, if 4800 is tested and fails, probably yes. Could be setting up for a decent inverse head and shoulders too. Keep an eye on that.
 
Re: XAO Analysis

kennas said:
I'm not sure if it's completely broken yet. Yesterdays recovery was pretty good. However, if 4800 is tested and fails, probably yes. Could be setting up for a decent inverse head and shoulders too. Keep an eye on that.
Click to expand...

reckon the probability of holding fridays close is remote and head and shoulders is a shampoo
 
Re: XAO Analysis

Very symmetrical 5 waves down on the XAO.

I'm certainly a novice waver... but it looks like being close to being finished if things play out to give a neat 5 waves. The down waves are parallel currently, we'd need to continue falling quickly to maintain that. Also interesting that the volume is much lower compared to the March low.

Possibly of little concern but the XSO is sitting right on support.
 

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Re: XAO Analysis

Down another 60 today and I can't see anything joyful going on in the world of finance that would encourage me to believe there is a prospect of a bounce before 4650. Hope i'm wrong.

If the xao can't hold 4650 then it's a case of strap on a life preserver and take to the life boats. The ship is sinking.
 

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Re: XAO Analysis

Certainly moving on down and price is king but not a lot of volume seems lack of buying rather than fund managers rushing for the door not to say things wont pick up

.
 

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Re: XAO Analysis

daily and 60m . bounce on 60m would not surprise at all with range repetition albeit taking a lot longer (less momentum) . 4687 reference level upside short term with yest low key dside . on daily it looks a little shakey with march swing low the key from here . with lower low and higher high the bias is in the balance
 

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Re: XAO Analysis

The xao bounced from just above the lower trend line. Driven by strong gains in the financial sector plus the major miners, the xao added 72 points helping reverse earlier falls.

Little has changed on the international markets regarding sovereign debt. The perspective of an impending Australian housing bubble set to burst, still hangs over our mortgage market which relies on overseas markets for about 40% of funding.

It is still possible the shorters will try and push the market down until we have the housing market collapse they are prediciting but I suspect they don't have a lot of room to move from here. Bargain hunters obviously jumped in over the last few days to buy up anything being pushed into the market.
 

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Re: XAO Analysis

tech/a said:
Latest Advanced GET for those interested.

View attachment 42857
Click to expand...
'Advanced GET - EW' called an ABC correction to W4 with a bounce to 5100 W5 by mid May back here.

Updated EW count to see where we have been?

(Disregarding any chart movements that do not fit the curve of course)
 
Re: XAO Analysis

Moving down in a channel of sorts no volume to indicate shorts being squeezed yet also not the sort of move down that I would think to many shorts would get set

Interesting the current market mood all the same

.
 

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Re: XAO Analysis

kennas said:
'Advanced GET - EW' called an ABC correction to W4 with a bounce to 5100 W5 by mid May back here.
Click to expand...

you may have missed this bit kenas... (enclosed in red, and it was taken out)
 

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Re: XAO Analysis

lol

i must thank some here for the excellent commentary they provide.

pity one cant trade commentary

as you were
 
Re: XAO Analysis

nunthewiser said:
lol

i must thank some here for the excellent commentary they provide.

pity one cant trade commentary

as you were
Click to expand...
One wonders what one can trade then? Maybe a chart (at least one LOL) of something remotely resembling XAO technical analysis.
 
Re: XAO Analysis

Boggo said:
you may have missed this bit kenas... (enclosed in red, and it was taken out)
Click to expand...
Yep, I missed 'expecting some positive price action from here' also.
 
Re: XAO Analysis

looking at key levels about now . this move up equals the best retrace since begining april . bias on 60 m got the swing high/low for reference now .
 

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Re: XAO Analysis

daily not a lot changed since last chart . GDP tommorow , its what weve been waiting for , looks priced so maybe no dside left from here on daily
 

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Re: XAO Analysis

ginar said:
looking at key levels about now . this move up equals the best retrace since begining april . bias on 60 m got the swing high/low for reference now .
Click to expand...

testing lows on daily and looking to channel support , march lows seem so close they need to be tested . NFP in US is a pivotal release and may well set the trend for weeks to come . many cycle gurus use NFP as turn dates
 

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Re: XAO Analysis

Long term chart. 1987 to present day. Thinking the yellow line might be about right. Sits at 4200.

 
Re: XAO Analysis

Type C bullish divergence, we're at support, good close of the lows today on increased volume. What's more June is typically a good month when considering seasonality.


Have to trade what I see so I have put a pending long order on one stock. Nevertheless, I have that sinking feeling like I imagine many have others have as well so I have halved my risk.

Will pull my order is Dow Jones breaks 12093 overnight.
 
Re: XAO Analysis

Feelings are hundreds of times more reliable, accurate and immediate than logic. The 'sinking feeling' should be what drives your decisions, sammy.

So long as a trader has a positive mindset regarding his trading, a sentiment approach to decision making is far, far superior to both TA and FA. However, if he lacks this core attitude of positivity, well nothing will work anyway, not sentiment, not TA nor FA. Nuthin' will work, no matter how sophisticated.

edit: if a trader has a poor mindset, then what feels right will be wrong and vice versa. See?
 
Re: XAO Analysis

Well at least the Dow, NASDAQ, FTSE and NIKKEI are green at the moment
 
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