{"id":64712,"date":"2015-02-02T11:09:39","date_gmt":"2015-02-02T00:09:39","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2015\/02\/02\/asx200-at-pivot-point\/"},"modified":"2015-02-02T11:09:39","modified_gmt":"2015-02-02T00:09:39","slug":"asx200-at-pivot-point","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2015\/02\/02\/asx200-at-pivot-point\/","title":{"rendered":"ASX200 At Pivot Point"},"content":{"rendered":"

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

Pivot Levels for the ASX200<\/strong><\/p>\n

Alternative wave counts \u2013<\/p>\n

Bearish count<\/strong> ( slightly preffered )- if the XJO remains below last weeks high and trades under\u00a05500 or spends more than 4 days trading below 5600 the odds turn in favour of a\u00a0dip towards\u00a05100. The rationale here is that the rally from 5110 to 5600 has completed an (abc) or three legged corrective rally\u00a0where the length and timing of wave (c) approximates wave (a).<\/p>\n

If this count assumption implies that the rally from 5100 is now complete and a 5-10% pullback is on the cards. A move below 5500 triggers a “sell the rallies” approach.<\/p>\n

Bullish count<\/strong> ( our best guess from last week) \u2013 the market has broken\u00a0above\u00a0the 6 month pattern\u00a0which implies a target around 5900. Under this scenario the current third wave continues to extend above 5600 and is contingent on the 5500 pivot level holding. The rationale here is that if 5500 support breaks\u00a0it would indicate a failed break of the pattern as well as a break back under the top of wave (1) which creates wave overlap and implies the rally has been corrective.
\n\u00a0<\/p>\n

\"\"<\/p>\n

\nAnother trading idea from<\/strong><\/p>\n

Fifth Wave |<\/strong> fwtc.com.au<\/strong><\/a>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/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

\u00a0AFSL 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 notes the charts suggest the ASX200 could fall to 5100 or rally to 5900, depending on near term movement.<\/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\/64712"}],"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=64712"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/64712\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=64712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=64712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=64712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}