##{"id":49552,"date":"2016-03-21T10:04:13","date_gmt":"2016-03-20T23:04:13","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2016\/03\/21\/asx200-must-hold-5050\/"},"modified":"2016-03-21T10:04:13","modified_gmt":"2016-03-20T23:04:13","slug":"asx200-must-hold-5050","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2016\/03\/21\/asx200-must-hold-5050\/","title":{"rendered":"ASX200 Must Hold 5050"},"content":{"rendered":"

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

Our 5400 target remains in play while support at 5050 holds<\/strong><\/p>\n

We suspect the market is trading within a corrective rally which should carry to 5400 over the next 5-10 days. From there we will be looking for a pull back to 5200 before another leg higher towards 5700. Our view is based on the following assumption and is contingent of the XJO holding above 5050.<\/p>\n

\n
the break above the head and shoulders pattern at 5050 implies a 5400 target<\/li>\n
the five wave completion down from 6000 implies a bounce to 5400 which is the top of wave’4′<\/li>\n
5440 is where wave ‘3’ equals 1.618 the length of wave ‘1’<\/li>\n
the 50% retracement of the descent from 6000 to 4700 is 5380<\/li>\n<\/ul>\n
A confirmed break above the 12 month trend line down indicates a target around 5700 (i.e height of the channel added to the 5200 break point).<\/p>\n
Trading below 5050 for more than two days negates our view and should set up a drop to 4800.<\/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 technical still suggest a run to 5400 for the ASX200 provided 5050 support holds.<\/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\/49552"}],"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=49552"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/49552\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=49552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=49552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=49552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}