##{"id":49723,"date":"2016-04-18T10:25:22","date_gmt":"2016-04-18T00:25:22","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2016\/04\/18\/asx200-5000-has-to-hold\/"},"modified":"2016-04-18T10:25:22","modified_gmt":"2016-04-18T00:25:22","slug":"asx200-5000-has-to-hold","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2016\/04\/18\/asx200-5000-has-to-hold\/","title":{"rendered":"ASX200: 5000 Has To Hold"},"content":{"rendered":"

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

Our 5400 target remains in play while 5000 holds<\/strong><\/p>\n

We suspect the ASX200 has completed a (B) wave lower after forming a higher low at 4900. The implication is for a (C) wave rally towards 5400 over the next 4-6 weeks. View based on the following –<\/p>\n

\n
completion of five major waves down from 6000 implies a bounce to the top of wave (4) around 5400<\/li>\n
the corrective rally should trace out a three legged structure (A.B.C)<\/li>\n
rally from 4700 to 5225 is wave (A) after tracing out five minor waves<\/li>\n
descent from 5225 to 4900 is wave (B) after tracing out three minor waves<\/li>\n
(C) carries to 5350 – 5400 over 3-4 weeks where (C) approximates (A) in time and length<\/li>\n<\/ul>\n
Trading below 5000 for 2-3 days negates.<\/p>\n
Two ways to trade our view –<\/p>\n
\n
Aggressive – buy using a 5100 limit placing stops below 5000 using a 5400 target<\/li>\n
Conservative – wait for a higher low to form above 5000 before opening longs placing stops below that new higher low or below 5000<\/li>\n<\/ul>\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 remains on track for 5400 as long as support at 5000 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\/49723"}],"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=49723"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/49723\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=49723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=49723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=49723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}