##{"id":50457,"date":"2016-09-05T10:31:17","date_gmt":"2016-09-05T00:31:17","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2016\/09\/05\/asx200-downside-still-in-play\/"},"modified":"2016-09-05T10:31:17","modified_gmt":"2016-09-05T00:31:17","slug":"asx200-downside-still-in-play","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2016\/09\/05\/asx200-downside-still-in-play\/","title":{"rendered":"ASX200: Downside Still In Play"},"content":{"rendered":"

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

Bounce to 5435\/50 expected before heading south towards 5300<\/strong><\/p>\n

We are assuming that last week's sell-off in the ASX200 (XJO) completed the third wave within a move down from 5600. The implication is for a fourth wave bounce to 5425\/50 before heading towards 5300. This view is contingent on the XJO remaining below 5455\/75 (bottom of wave ‘i’).<\/p>\n

Our 5300 target\/support level is derived from July break point (green arrow), the bottom end of the 7 month uptrend channel and where wave ‘v’ would approximate wave ‘i’. If the market fails to find a foot hold around 5300 we will be looking for a dip to 5050 (bottom of the wave ‘4’).
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Another 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":"