##{"id":65892,"date":"2015-11-02T10:29:10","date_gmt":"2015-11-01T23:29:10","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2015\/11\/02\/asx200-needs-to-see-5400\/"},"modified":"2015-11-02T10:29:10","modified_gmt":"2015-11-01T23:29:10","slug":"asx200-needs-to-see-5400","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2015\/11\/02\/asx200-needs-to-see-5400\/","title":{"rendered":"ASX200 Needs To See 5400"},"content":{"rendered":"

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

Downside risk remains unless the market can push above 5400<\/strong><\/p>\n

Last week’s price action confirmed that the 5400 level is a major pivot point for the ASX200 (XJO). A move above that level should lead to a trend change and imply a move to 6000.<\/p>\n

However if the XJO remains below 5400 and spends a week or so trading between 5200 and 5100 we think the implication would be for a fifth wave lower to 4600.<\/p>\n

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

\n
XJO is trading in a series of five waves lower from 6000 to 4600<\/li>\n
the 4th wave (zig-zag) is now complete after achieving the target 5400 where wave “c” = “a”<\/li>\n
trading for 5-10 days between 5100 and 5200 adds weight to this view<\/li>\n
a break below the zig-zag pattern line at 5100 implies a 4600 target (height of pattern less break point)<\/li>\n
4700 would also provide support where wave 5 = 1<\/li>\n<\/ul>\n
Bottoming view<\/strong><\/p>\n
\n
the decline from 6000 to 4800 is the major 4th wave which has corrected the 3 year up trend<\/li>\n
a bottom has formed given the higher low at 4900 and a higher high at 5400<\/li>\n
the market is now trading within the 3rd wave of a series of five waves higher to 6000<\/li>\n
trading above 5400 triggers a buy and implies a move to 6000 (height of channel added to break point)
\n\t <\/li>\n<\/ul>\n
$\"\"$
\n <\/p>\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 believes that if the index cannot push above 5400 shortly the risk for a fall back through 5000.<\/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\/65892"}],"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=65892"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/65892\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=65892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=65892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=65892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}