##{"id":49443,"date":"2016-02-29T10:58:31","date_gmt":"2016-02-28T23:58:31","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2016\/02\/29\/asx200-5400-still-the-target\/"},"modified":"2016-02-29T10:58:31","modified_gmt":"2016-02-28T23:58:31","slug":"asx200-5400-still-the-target","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2016\/02\/29\/asx200-5400-still-the-target\/","title":{"rendered":"ASX200: 5400 Still The Target"},"content":{"rendered":"

By Nick Linton-Ffrost<\/p>\n

Pivot levels at 4830 and 4925<\/strong><\/p>\n

Our medium term view is that the ASX200 (XJO) has completed it’s descent from 6000 to 4700 which implies a corrective bounce towards 5400 over the next 4-6 weeks. In the near term we suspect a higher low has formed at 4830 (i.e completion of wave ‘2’) which should be followed by the next leg higher towards 5400.<\/p>\n

Completion of move from 6000 to 4700 assumptions (chart 1)<\/p>\n

\n
five wave count improves odds for rally to 5400<\/li>\n
5400 target based on “return to top of 4th after five have completed" rule<\/li>\n
break of 6 weeks trend line implies a 5400 target which is the height of pattern added to 4880 break point<\/li>\n<\/ul>\n
Our wave ‘2’ completion assumptions (chart 2)<\/p>\n
\n
achievement of downside target derived from the break at 4980<\/li>\n
pull back to 6 week down trend line (5350 to 4700)<\/li>\n<\/ul>\n
Our view is contingent on the market holding above 4830 and pushing back above 4925 within the next 2-3 days. Trading below 4830 turns the odds in favour of a move lower towards 4700.<\/p>\n
\n $\"\"$ <\/p>\n
\n $\"\"$ <\/p>\n
\nAnother trading idea from<\/strong><\/p>\n
Fifth Wave |<\/strong> fwtc.com.au<\/strong><\/a> <\/p>\n
FW generates over 150 Trading Alerts on the ASX100 each year. We are a subscription service specialising in short term technical strategies based on 27 years experience<\/strong>.<\/strong><\/p>\n
AFSL 319830 |<\/strong> Disclaimer<\/strong><\/a><\/p>\n
Reprinted with permission of the publisher.<\/em> Content included in this article is not by association the view of FNArena (see our disclaimer<\/a>).<\/em><\/p>\n
Technical limitations <\/strong><\/em><\/p>\n
If you are reading this story through a third party distribution channel and you cannot see charts included, we apologise, but technical limitations are to blame.<\/strong><\/em><\/p>\n
Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Nick Linton-Ffrost of Fifth Wave suggests the ASX200 will have to hold above its previous low but the upside is still favoured.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/49443"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=49443"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/49443\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=49443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=49443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=49443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}