##{"id":65860,"date":"2015-10-26T10:00:25","date_gmt":"2015-10-25T23:00:25","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2015\/10\/26\/asx200-watching-5420\/"},"modified":"2015-10-26T10:00:25","modified_gmt":"2015-10-25T23:00:25","slug":"asx200-watching-5420","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2015\/10\/26\/asx200-watching-5420\/","title":{"rendered":"ASX200: Watching 5420"},"content":{"rendered":"

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

Levels to watch are 5420 and 5250<\/strong><\/p>\n

Breaking above 5400\/5450 for a week implies a 6000 target over the next few months. If the ASX200 (XJO) remains below 5450 and trades under 5250 for a few days we expect a move south towards 4600-4800.<\/p>\n

Bottoming view<\/strong><\/p>\n

\n
the decline from 6000 to 4800 is a major 4th wave within the 3 years' rally<\/li>\n
correction is complete given the 4th breaks down into three minor waves (abc)<\/li>\n
trading above the bottom of wave “a” creates wave overlap and adds weight to the bottoming view<\/li>\n
the 6000 target is derived from the height of trend channel added to the expected break point at 5450<\/li>\n<\/ul>\n
Bearish view<\/strong><\/p>\n
\n
the XJO is currently trading within the 4th wave in the decent from 6000, which implies a 5th wave lower is just around the corner<\/li>\n
if the market rolls away from 5400\/50 and trades back under 5250 that would indicate that 5th is underway<\/li>\n
the 5400\/50 level is significant given that is where wave “c” equals “a” and it is the bottom of the previous wave “a” (yellow)<\/li>\n
trading below 5150\/5250 creates a bearish zig-zag and implies a move to 4600 (height of pattern less break point)
\n\t <\/li>\n<\/ul>\n
$\"\"$ <\/p>\n
\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 breaking above 5420 implies a move back to 6000 for the ASX200.<\/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\/65860"}],"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=65860"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/65860\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=65860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=65860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=65860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}