{"id":65269,"date":"2015-06-15T10:28:02","date_gmt":"2015-06-15T00:28:02","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2015\/06\/15\/5580-pivot-point-for-asx200\/"},"modified":"2015-06-15T10:28:02","modified_gmt":"2015-06-15T00:28:02","slug":"5580-pivot-point-for-asx200","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2015\/06\/15\/5580-pivot-point-for-asx200\/","title":{"rendered":"5580 Pivot Point For ASX200"},"content":{"rendered":"

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

Pivot point around 5580<\/strong><\/p>\n

After falling 10% from this years high the question is whether or not the move is a correction or a\u00a0medium term trend change. Either way while the ASX200 (XJO) remains below 5580 the downside risk remains in place.<\/p>\n

Under the corrective view we would expect support to\u00a0kick in between 5450 (pattern break target) and 5350 (where wave 3 approximates wave 1). \u00a0If these supports hold we will assume the 10% drop is corrective and will be expecting a bounce from 5350 or above back towards 5900. The view is contingent on the market finding a foot hold above those levels over the next 5 days and then pushing back above 5580.<\/p>\n

The reversal view assumes that the XJO\u00a0is trading within the third wave of a southerly move\u00a0towards 5100 over the next month. The target is derived where wave 3 =\u00a01.618 times the length of wave 1. This is also near the\u00a0bottom of the major (4) wave. We would expect strong support around 5100 and a\u00a0bounce back to 5400\/5500.
\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 suggests if the ASX200 cannot recover 5580 , downside risk remains in place.<\/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\/65269"}],"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=65269"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/65269\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=65269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=65269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=65269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}