Trading tactics<\/strong><\/p>\n Short a move below 34.00 using a 34.50 stop and a 32.80 target.<\/p>\n Otherwise buy a break above 34.50 looking for a move to 36.00 placing stops at 34.00.<\/p>\n Rationale<\/strong><\/p>\n Our bearish view is based on a simple five count assumption. The last few days trading around between 33.80 and 34.50 appears to have formed a fourth wave just under the trend line implying a move lower 32.80.<\/p>\n Our view is negated and turns into a buy with a break above 34.50. 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 27years 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
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