##{"id":65459,"date":"2015-07-27T10:30:18","date_gmt":"2015-07-27T00:30:18","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2015\/07\/27\/asx200-at-pivotal-level\/"},"modified":"2015-07-27T10:30:18","modified_gmt":"2015-07-27T00:30:18","slug":"asx200-at-pivotal-level","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2015\/07\/27\/asx200-at-pivotal-level\/","title":{"rendered":"ASX200 At Pivotal Level"},"content":{"rendered":"

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

Trading below 5600 has our technical indicators evenly balanced<\/strong><\/p>\n

We suggest watching how the ASX200 (XJO) reacts to the 5550-5650 pivot level over the next few days as this should determine the market's direction for the next month.<\/p>\n

Upside case (chart 1)<\/strong> – assumes that the market is simply pulling back to the down trend line before another leg higher.<\/p>\n

\n
five wave move lower from 6000 to 5400 implies the corrective A wave is complete<\/li>\n
Break above 5600 pivot level implies 5850 target (channel height added to break point at 5600)<\/li>\n
view contingent on XJO not<\/u> trading below 5550 for more than 2 days
\n\t <\/li>\n<\/ul>\n
$\"\"$
\n <\/p>\n
Downside case (chart 2)<\/strong> – corrective bounce from 5380 is now complete and a move toward 5380 and 5100 is underway.<\/p>\n
\n
five wave move lower from 6000 to 5400 implies the corrective A wave is complete<\/li>\n
three waves higher from 5380 to 5720 improves odds that wave B has completed its move<\/li>\n
trading below 5600 pivot level (top of wave i and trend line break level) adds weight to this completion view<\/li>\n
targets at 5380 previous low and 5100 where wave C=A. Timing on 5380 is 2-3 weeks. Timing on 5100 is 2-3 months.<\/li>\n
view contingent on XJO forming a lower high under 5720 and trading below 5550 for more than 3 days
\n\t <\/li>\n<\/ul>\n
$\"\"$ <\/p>\n
\nAnother 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 the direction of the ASX200 will be determined by which side of the 5550-5650 range is breached.<\/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\/65459"}],"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=65459"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/65459\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=65459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=65459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=65459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}