##{"id":65553,"date":"2015-08-17T11:00:02","date_gmt":"2015-08-17T01:00:02","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2015\/08\/17\/bounce-expected-for-asx200\/"},"modified":"2015-08-17T11:00:02","modified_gmt":"2015-08-17T01:00:02","slug":"bounce-expected-for-asx200","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2015\/08\/17\/bounce-expected-for-asx200\/","title":{"rendered":"Bounce Expected For ASX200"},"content":{"rendered":"

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

Bounce to 5500 expected. Near correction or medium term low?<\/strong><\/p>\n

The ASX200 (XJO) has achieved our near term downside target around 5350 which improves the odds of a bounce towards 5500 over the next 3-10 days. We have outlined two alternative strategies to trade the bounce.<\/p>\n

Near term correction before\u00a0a decline\u00a0to 5050<\/strong><\/p>\n

\n
rally\u00a0from 5100 in December to 6000 in April completed\u00a0the 3 year\u00a0rally and implies decline\u00a0to 5050 (bottom of major 4th rule)<\/li>\n
A wave = fall from 6000 to 5380 July low\u00a0and\u00a0the rally from 5380 to 5725 is wave\u00a0B which implies the C wave to 5050 is in progress<\/li>\n
therefore the drop from 5725 to 5325 is\u00a0the\u00a0first wave within C which with a target derived from\u00a0C =\u00a0A<\/li>\n
the implication is for a 2nd wave bounce over the next 3-7\u00a0days towards 5500 before heading<\/li>\n
contingent on the formation of a lower high below 5600 which should occur within 3-7\u00a0days
\n\t\u00a0<\/li>\n<\/ul>\n
$\"\"$ <\/p>\n
\nMedium term low implying a rally to 5725<\/strong><\/p>\n
\n
decline from 6000 to last week’s lows at 5325 is and A wave which breaks down into five waves where 5=1<\/li>\n
the fifth has also achieved the target at 5350 which is derived from the break at 5600<\/li>\n
these two indicators suggest the move lower from 6000 is complete and a bounce to the top of the 4th at 5725 is on the cards<\/li>\n
5725 target based on our rule of thumb which assumes a bounce to the top of 4th after the 5th wave has completed<\/li>\n
the expected bounce should trace out three wave (abc) and take around 4-5 weeks to complete wave\u00a0B<\/li>\n
the implication is for a C wave lower once the B wave is complete down to 5050<\/li>\n
view contingent on a higher low forming above 5300-5350
\n\t\u00a0<\/li>\n<\/ul>\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 the ASX200 should bounce from here, but is it sustainable?<\/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\/65553"}],"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=65553"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/65553\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=65553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=65553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=65553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}