Open shorts once a lower high forms below 55.00.<\/p>\n
Rationale<\/strong><\/p>\n Our wave count assumptions indicate MQG is in the process of forming a topping pattern between 53.00 and 55.00. The implication is for a pullback towards 47.00.<\/p>\n Trading below 53.00 should start the ball rolling given the break of a confirmed trend line, however we still require a lower high to form before opening shorts.<\/p>\n For those keen to short the line break we suggest placing stops at 55.30<\/p>\n \n 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![\"\"](\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/ffmqg.jpg\")
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