XJO Bullish

[Porper]

And i posted this here yesterday, so we have a confluence of analysis?

https://www.aussiestockforums.com/forums/attachment.php?attachmentid=23206&d=1218940426

Cheers,


CanOz

Just to put a spanner in the works, here is my preffered count.If this pans out we will get a good bounce from here (maybe above 6000) but ultimately we have far, far lower to go.

The last impulse down is difficult to put a count on just because it is basically straight down.However I have labelled it as a wave 5 .

As usual, yes there are alternate counts, Techs been one of the more likely.

 

[tech/a]

So your take is about the same as mine:

'It could go up... or down'

Can be said of every chart.
However my analysis is pointing me toward a drop in price for BHP.
Wether that is immediate from this point is not currently definative.

Thats what analysis does.
Gives us a starting point or an end for trades.

 

[Boggo]

Another potential leg down perhaps ?

Nearly went short today, didn't quite hit the target.

(click to enlarge)

 

[Dutchy3]

Sold out this morning. Now netural

Now waiting for a Big White to take out 5150 (Close (say) 5170) to indicate that a better bullish run is on offer.

Will not happen today ....

Might not happen within the next week either which would confirm a greater period of range trading and therefore a netural bias.

 

[druss]

Pulled back right on Resistance.... Watching for Support..... Inverted Head and Shoulders Pattern Potentially forming....

 

[skyQuake]

Sailed right thru on heavy vol, failed retest of 12500 support turned resist. Only gonna trade this from the short side, RR better that way.

 

[greggles]

The XJO closed at 10 year highs today at 6,172.60. There were two previous attempts this year at breaking through 6,150 in January and May, but today it got there.