{"id":64768,"date":"2015-02-16T10:21:35","date_gmt":"2015-02-15T23:21:35","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2015\/02\/16\/resistance-ahead-for-asx200\/"},"modified":"2015-02-16T10:21:35","modified_gmt":"2015-02-15T23:21:35","slug":"resistance-ahead-for-asx200","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2015\/02\/16\/resistance-ahead-for-asx200\/","title":{"rendered":"Resistance Ahead For ASX200"},"content":{"rendered":"

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

Target range between 5950 and 6100 before pullback<\/strong><\/p>\n

We suspect the ASX200 (XJO) is trading within\u00a0the fifth wave of a rally from 5100 which should terminate between 5950 and 6100\u00a0over the\u00a0next 5-10 days before pulling back towards 5700.<\/p>\n

Our view is based on the assumption that our break and wave count\u00a0target levels will\u00a0provide strong resistance and create reversal levels.<\/p>\n

The 5950 triangle target is dreived from the break out of the four month pattern at 5500 while the near term wave count target at 6100 is where the fifth wave approximates the length of wave\u00a0one.<\/p>\n

We do not recommend shorting the market until a lower high forms between 5950 and 6100, however reducing long positions is suggested.
\n\u00a0<\/p>\n

\"\"<\/p>\n

Another 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 discusses the technical picture for the ASX200 from here.<\/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\/64768"}],"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=64768"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/64768\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=64768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=64768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=64768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}