##{"id":50492,"date":"2016-09-12T10:33:26","date_gmt":"2016-09-12T00:33:26","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2016\/09\/12\/asx200-looking-for-the-bottom\/"},"modified":"2016-09-12T10:33:26","modified_gmt":"2016-09-12T00:33:26","slug":"asx200-looking-for-the-bottom","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2016\/09\/12\/asx200-looking-for-the-bottom\/","title":{"rendered":"ASX200: Looking For The Bottom"},"content":{"rendered":"

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

Levels to watch<\/strong><\/p>\n

We suspect the ASX200 (XJO) will find temporary support between 5200 and 5250 after tracing out five waves lower from 5600 and hitting the bottom end of the 7 month uptrend channel.<\/p>\n

If the market does find it feet we will be looking for 1-2 weeks trading between 5200 and 5450 to form wave (B) before another leg lower. Given we are assuming that the channel support will eventually crack we are penciling in the following downside targets –<\/p>\n

\n
the bottom of wave 4 around 5050<\/li>\n
channel break target =4900 (i.e height of channel subtracted from line break point)<\/li>\n
where (C) = (A) at 4950<\/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 5200-5250 offers support for the ASX200.<\/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\/50492"}],"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=50492"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/50492\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=50492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=50492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=50492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}