Australian (ASX) Stock Market Forum

Recent content by OzWaveGuy

  1. OzWaveGuy

    Elliott Wave and the XAO

    With wave (iii) complete and it appears that a wave (iv) expanding triangle also looks complete. A push up to complete wave (v) is now needed with a target area of around 6550.
  2. OzWaveGuy

    Elliott Wave and the XAO

    Small minute wave (iii) looks almost complete so expect some sideways movements to build out wave (iv). 6700 is still a target for this small impulse wave up.
  3. OzWaveGuy

    Elliott Wave and the XAO

    The push upwards out of the ending diagonal from this post is underway and completes wave 'b'. The expectation is a 5 wave advance upwards and onto a new short term high. A target area of around 6700 is feasible.
  4. OzWaveGuy

    Elliott Wave and the XAO

    The DJI could be at a critical point with a potential to be beneficial for the bulls. If you recall in this post, the DJI was estimated to complete a five wave advance with a new high and reaching 29850 or higher. The index completed it's 5 wave advance, but only made close to 29200 before...
  5. OzWaveGuy

    Elliott Wave and the XAO

    The XAO has continued downwards to complete an ending diagonal pattern for wave (c). For this wave count to be valid, wave (c) is required to be a five wave structure - an impulse wave or a 5 wave ending diagonal to complete the larger flat correction wave 'b', which in this case is the latter...
  6. OzWaveGuy

    Elliott Wave and the XAO

    The recent declines have provided some additional clarity on the XAO, namely the hard to follow sideways action on the hourly chart looks to be a large corrective (a)-(b)-(c) wave as a flat correction (3-3-5). The (c) wave being an ending diagonal with overlapping waves. The (c) wave looks...
  7. OzWaveGuy

    Elliott Wave and the XAO

    Thanks kitdoctor for your post. The above triangle is a possibility to consider.
  8. OzWaveGuy

    Elliott Wave and the XAO

    The recent declines on the XAO look like a small a-b-c (3-3-5) correction with further upside potential to take the index to around the 6700 levels (78.6% retracement) to complete wave 2 up. From here, dropping below 6000 would be significant and places the current count in danger and the wave...
  9. OzWaveGuy

    Elliott Wave and the XAO

    The DJI continues to climb past the 28500 levels, and the wave structure does support the count below with wave (iv) complete (also MACD is at an extreme for wave (iii)). Under this count, the last push up is now underway to complete wave (v) and the bigger wave 5. Breaking below the trend line...
  10. OzWaveGuy

    Elliott Wave and the XAO

    XAO is continuing upwards and is now supported by the 61.8% retracement level, but.... The index appears to be moving up in a small 5 wave impulse move that almost looks complete, which is expected for the remaining wave 'c' of the 2nd a-b-c corrective wave upwards. If true, what is the...
  11. OzWaveGuy

    Elliott Wave and the XAO

    The last push up by the DJI is estimated as a 5 wave impulse pattern, and based on Fibonacci relationships: Wave (iii) ends at 28500, which is 161% of wave (i) Wave (iv) is a triangle (assumed) Wave (v) ends at 30036 (or slightly higher), which is 138% of wave (i), but cannot be more than 100%...
  12. OzWaveGuy

    Elliott Wave and the XAO

    The XAO appears to be confirming a position previously held: The DJI should see new highs, but the XAO will not and is correcting upwards. The XAO so far has confirmed this position by exhibiting qualities that indicate a lack of strength to drive to new highs (time & wave structure) and helps...
  13. OzWaveGuy

    Elliott Wave and the XAO

    The DJI continues upwards with waves (i) and (ii) complete of wave 5. An observation on the construction of this larger wave that started in March 2020 to be aware of: Wave 1 is the subdividing wave (usually there's one subdividing wave in a 5 wave structure and it is often wave 3) It is not...
  14. OzWaveGuy

    Elliott Wave and the XAO

    The DJI looks to have completed a fourth wave triangle in the continuing 5 wave advance. Here it becomes interesting as to where the index will terminate. This wave count positions the final wave 5 to be no more than 30,274 (since wave 3 cannot be the shortest). The previous DJI top is at...
  15. OzWaveGuy

    Elliott Wave and the XAO

    The DJI is moving up in waves of 5 as previously discussed, and with Wave 2 assumed complete, there should be a strong wave 3 advance. If the advance doesn't materialize at this point in time, then there may be a remote possibility of an 'expanded flat' correction forming, where Wave 2 is not...
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