XAO Technical Analysis

[Gringotts Bank]

forgive my ignorance, but what does a diamond imply or point to? I can see it in your image, but the interpretation is beyond me. (I don't have time at the moment to watch the video, and from the title, do not think the answer is there.)

http://thepatternsite.com/diamondb.html

The video will give you clues about how certain beliefs/attitudes will make you trade a pattern like a diamond correctly/incorrectly. Hope that makes sense.

 

[Logique]

Good video?
Every time you trade, your beliefs are trading you. A good system, sizing and set-up will fail without the crucial mind management.

Well certainly it's a long video GB. But spot on about self discipline and mind control, can only admire those who can manage this consistently in their trading.

 

[Gringotts Bank]

Market waiting for nuclear threat to abate before any bullishness emerges. How long will that take?

 

[Quant]

Nice sharp tweezer tops indicating plenty supply all the way down , APRA **** hanging over banks , still headwinds . 2 open bearish breakaway gaps to overcome . I'm still a seller of pops in medium term , intra well anything goes .. we have had no typical fast sharp price isolated V low in june or july to hang a bullish hat on yet . I still wait on a exhaustive capitulation myself .

 

[Quant]

First close below 5650 brings waterfall potential

 

[Quant]

XFJ lowest close for July , next leg down on the cards

 

[Quant]

Given this chart the fact XJO got anywhere near 6000 is bordering on a miracle

Not a lot of news/data is very positive for markets recently but the market cares not thus far , we got Trump pump thing going on as well , I look as it as a gift

The market is mean reverting and unless earnings growth gets a rocket under it the reversion in ' price ' looks bleak for bulls , I'm happy to see pops for extreme entry . Gravity cannot be defied indefinitely

 

[Quant]

XJO the gifts keep coming , lower highs , that 5650 wont hold forever imo ...

Yet another bearish gap coming today

 

[Logique]

Very indecisive market, and I can't see any strong indication of what will happen next. Odds probably favour the next leg being down, but no guarantee.

My understanding of the ASF threads is:
XAO Tech Analysis - is for charts
XAO Banter - is for banter - a lot of good charts going to waste on the banter thread at present

 

[Quant]

XJO once again on the edge , loving it , 5650 close area super important once again

 

[Gringotts Bank]

Breakdown looming on my particular chart of the Ords. With a target of the previous low pivot - 5672.

 

[SuperGlue]

Will the reporting season starting from next week onward change things around?

 

[Logique]

Nice work Quant and GB.

Quant, that lower dashed line, circled at 5,500 - is it safe to assume that's a long term trendline?

 

[Trembling Hand]

The last time there was anything approaching momentum in this market it was late 2016. It has been stuck since. If you look at the underlying breadth there seems to be no standout pattern. It doesn't look like distribution or accumulation, more like disinterest!!



My preferred pattern here is..... same. Slight moves to the edges then a rescue day back into the same old Meh! area.

 

[tech/a]

As I mentioned somewhere else.
More of the same.
Currently there is no stand out Bull
or Bearish condition that will influence
a long term change in trend either way.

BORING and very difficult for those with
longer time horizons to turn a quid.

 

[Quant]

Plenty of scope to make a quid if you ask me with near to 1% ATR . It might look boring but it is totally exploitable



I personally think the best trading is boring , boring is easy . Want excitement take up freestyle MX

 

[Trembling Hand]

Plenty of scope to make a quid if you ask me with near to 1% ATR . It might look boring but it is totally exploitable

Yeah, there are moves, particularly intraday to a few days, I just don't think there will be resolution of a clear direction.

 

[kid hustlr]

That ATR chart just says to me buy volatility

 

[Trembling Hand]

That ATR chart just says to me buy volatility

Which ATR chart are you talking about?

 

[kid hustlr]

Which ATR chart are you talking about?

The one is quants post.

The ATR peaks are the lows