{"id":64208,"date":"2014-09-22T11:27:38","date_gmt":"2014-09-22T01:27:38","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2014\/09\/22\/more-weakness-in-store-for-woodside\/"},"modified":"2014-09-22T11:27:38","modified_gmt":"2014-09-22T01:27:38","slug":"more-weakness-in-store-for-woodside","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2014\/09\/22\/more-weakness-in-store-for-woodside\/","title":{"rendered":"More Weakness In Store For Woodside"},"content":{"rendered":"

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

We suspect Woodside Petroleum ((WPL)) is trading within a five wave decline towards 40.50 over the next 3-4 weeks.<\/p>\n

Our view is based on the break below the pivot level and the trend line at 42.40 which has confirmed a lower high at 43.80 and created a third wave structure. We suspect a 4th wave is now forming which should be followed by another leg lower to 40.50.<\/p>\n

Two to three days trading above the bottom of wave 1 (42.40) negates our view.<\/p>\n

Trading tactics<\/strong><\/p>\n

Open shorts using a 42.00 limit placing stops at 42.80 looking for a move to 40.50.<\/p>\n

\"\"<\/p>\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 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 a short-term trading idea in Woodside shares.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[24],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/64208"}],"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\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=64208"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/64208\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=64208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=64208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=64208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}